Macroeconomic factors, memecoin scams and the industry’s largest-ever hack drove investor capital to safer assets, including stablecoins and RWAs.
Solana saw nearly half a billion dollars in outflows last month as investors shifted to what were perceived to be safer digital assets, reflecting growing uncertainty in the cryptocurrency market.
Solana (SOL) was hit by over $485 million worth of outflows over the past 30 days, with investor capital mainly flowing to Ethereum, Arbitrum and the BNB Chain.
The capital exodus came amid a wider flight to “safety” among crypto market participants, according to a Binance Research report shared with Cointelegraph.
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