Solana: Why SOL’s price levels might not reflect its true value
The post Solana: Why SOL’s price levels might not reflect its true value appeared on BitcoinEthereumNews.com.
Key Takeaways Why is Solana looking poised despite recent price underperformance? Solana’s on-chain activity remains robust, signaling strong network demand and investor interest. Could BNB’s rally impact SOL? BNB’s 30-day run and overheated RSI may trigger a rotation back into SOL, reinforced by on-chain activity and Bitwise’s staking ETF update. This week’s data shows a clear rotation out of Solana [SOL]. Notably, SOL’s market share has dropped to 2.96%, while Binance Coin [BNB] has climbed to a two-year high of 4.43%, suggesting FOMO is chasing BNB for upside potential. But is this a sign of Solana’s weakening fundamentals driving capital elsewhere, or is it simply Binance Coin’s growth story attracting attention, making this shift more pro-BNB than anti-SOL? Weekly on-chain trends highlight a multi-polar market BNB’s been ripping, clocking a 50% jump over the last 30 days. By contrast, SOL has only managed a 1.5% uptick, making BNB’s rally nearly 33× larger. The result? The SOL/BNB ratio is down to 0.20, as of writing, marking its lowest level since Q4 2023 after four consecutive weekly losses. However, on-chain data tells a slightly different story. Solana recorded 503.6 million economic (non-vote) transactions this week, more than 4.4x BSC’s throughput, fueling chatter that SOL might be relatively undervalued. Source: CryptoQuant Backing this thesis, Solana’s weekly data looked bullish. For starters, Solana Exchange Traded Products (ETPs) hauled in $706 million this week, marking a 127% above the prior all-time high, showing serious capital chasing SOL even if the price hasn’t caught up yet. In short, Solana’s price underperformance reflects a pro-BNB momentum on the macro side, while on-chain and network fundamentals stay rock solid, reinforcing a healthy multi-polar market structure. What happens to Solana if the market tilts? As the market went risk-off, SOL slipped below $230 support. That said, SOL is now…
Filed under: News - @ October 9, 2025 11:26 pm