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Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report

Solana Falls Under Realized Price: Here’s What Happened Last Time

Keshav Verma
Keshav Verma
Last Updated: March 12, 2025 12:30 am
2 mins read
Solana

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On-chain data shows Solana (SOL) has seen its spot value drop under the Realized Price for the first time in three years following the recent bearish action.

Solana Has Just Seen A Breakdown Of The Realized Price

According to data from the on-chain analytics firm Glassnode, Solana has slipped around 8% below its Realized Price. The “Realized Price” is an indicator that basically tells us about the cost basis of the average investor or address on a given network.

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When the spot price of the asset is trading above this metric, it means the holders as a whole are carrying a net unrealized profit. On the other hand, it being under the indicator suggests the average investor is underwater.

Now, here is the chart shared by the analytics firm that shows the trend in the Realized Price for Solana over the last few years:

Solana Realized Price
Looks like the price of the coin has dipped under the metric in recent days | Source: Glassnode on X

As is visible in the above graph, SOL broke above its Realized Price back in 2023, putting investors into the green. Throughout 2024 and the first couple of months of this year, the price remained above the line, but recently, it seems another crossover has finally occurred.

“Solana just plunged below its Realized Price for the first time in nearly 3 years,” notes Glassnode. At the current exchange rate, the price is around 8% below this metric, which means the average holder of the asset could be assumed to be 8% in the red.

From the chart, it’s apparent that the last time the cryptocurrency saw this type of crossover was back in 2022. Losing the level then meant the start of a bear market. Thus, it’s possible that the latest breakdown of the line could prove to be a bad sign for the coin this time as well.

Historically, the Realized Price has played the role of a boundary between bear and bull trends for not just SOL, but also other digital assets. In another X post, Glassnode has shared the data for a version of the indicator for Bitcoin, the number one cryptocurrency.

Bitcoin STH Realized Price
The short-term holders now appear to be underwater | Source: Glassnode on X

The metric displayed in the chart is the Realized Price of the short-term holders, which only measures the average cost basis of the investors who purchased their coins within the past 155 days. Unlike the Realized Price of the entire network, this version of the indicator serves more like a boundary line for short-term momentum shifts.

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After the recent bearish price action across the digital asset sector, Bitcoin has seen its short-term holders fall into the red, which could imply the asset may continue to suffer from a drawdown in the near future.

SOL Price

At the time of writing, Solana is trading around $124, down almost 9% in the last week.

Solana Price Chart
The trend in the SOL price over the last five days | Source: SOLUSDT on TradingView
Featured image from Shutterstock.com, Glassnode.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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