Solana’s Realized Cap Surges Again As Ethereum Slows-This Ratio Still Matters

Solana’s realized cap surged on Jan 29, Mar 11, and May 20, consistently outpacing Ethereum’s short-term capital inflows.

The SOL/ETH ratio topped out in April at 0.093 before falling to 0.0586 as capital inflows eased on both sides.

Even with that pullback, Solana kept swinging harder, with fresh spikes keeping it ahead of Ethereum in short-term momentum.

The SOL/ETH price ratio has fallen from its April high of 0.0868 to 0.0586 in early July. Solana and Ethereum still attract investor capital, but Solana holds stronger momentum in the short term.

The recent activity reflects a transition into a consolidation zone rather than clear bullish or bearish dominance. New capital inflows have slowed for both networks, but Solana continues to display higher volatility across shorter windows. Traders now track these metrics closely to gauge where the next breakout may form.

Sharp Surges in Solana’s Realized Cap

Solana’s <1-week realized cap surged three distinct times: January 29, March 11, and May 20. Each spike marked a moment when hot capital flooded Solana, with the purple line shooting above Ethereum’s values. On January 29, Solana’s metric climbed above 0.085 while Ethereum hovered below 0.073.

This pattern repeated in March and May, with Solana outperforming Ethereum during those short-term inflow periods. Realized cap data reveals how aggressively new capital entered Solana versus the steadier pace in Ethereum. These moments created sharp valuation shifts in the SOL/ETH chart.

Tracking price behavior shows repeated rebound patterns during each capital surge in Solana. And yet, Ethereum maintained a flatter, more measured flow throughout the same period. That divergence consistently pushed the SOL/ETH ratio higher until April’s peak.

Ethereum Holds Flat While Solana Swings

Ethereum’s <1-week realized cap remained within a tighter band, rarely exceeding 0.072 since February. In contrast, Solana registered frequent peaks followed by cooldowns. This contrast in investor behavior shaped the evolving SOL/ETH ratio throughout the year.

By mid-April, the SOL/ETH ratio peaked near 0.093 before starting its descent. A standout detail lies in the simultaneous slowdown across both assets in early June. Solana dipped below 0.066, while Ethereum slid under 0.067.

As shared by Sjuul, this move triggered a larger setup, as market attention turned toward the next potential inflow spike. Even with a lower realized cap, Solana’s pattern retained more frequent surges and fades. In turn, this dynamic helped preserve its short-term edge over Ethereum.

The market’s attention is now here, with both networks showing signs of new accumulation. What matters now is how each asset responds once fresh capital begins rotating back into the market.