Analysis of the Market Value to Realized Value (MVRV) ratio suggests that while the market is currently heated, there is still potential for growth before widespread profit-taking occurs.

The MVRV ratio indicates that investor profitability remains within reasonable limits, suggesting further upward potential for Solana.

Since the FTX collapse, Solana's price has skyrocketed by over 2000%, outperforming both Bitcoin and Ethereum across more than 344 of the last 727 trading days.

The cryptocurrency has seen consistent positive net inflows since September 2023, signaling strong and sustained investor interest.

Currently, Solana is attracting approximately $776 million in incoming capital daily, having reached a peak price of $263 in November 2023.

A recent report highlights a balanced profit-taking distribution among various investor groups, showcasing Solana's broad appeal as an investment.

Since January 2023, profit-taking volumes have been significant, with diversified wallets realizing a total of $43.4 billion in profits.

There is a noticeable increase in interest in Solana, particularly from new investors, contributing to its growth as we enter 2024.

Solana is drawing attention from crypto whales due to its efficiency, scalability, low fees, and a rapidly expanding ecosystem, especially in DeFi and NFTs.

Overall, the report presents a positive outlook for Solana, characterized by solid capital inflows and expanding adoption, rather than signaling an imminent bubble.

As of December 24, 2024, SOL is trading at $191.83, reflecting a 4.27% increase in the last 24 hours, with potential resistance levels identified at $249 and $302.

Increased network activity is evident, with Solana surpassing 67.77 million transactions in a single day, marking the highest level in nearly a year.