Solana sinks 27% YTD – How SOL’s RWA push keeps FOMO alive

2025 is shaping as much as be one of many roughest cycles for crypto since 2022.

With This fall about to shut out in a number of days, the TOTAL crypto market cap continues to be bleeding out. As anticipated, that has kicked off the same old “is crypto nonetheless simply hypothesis?” chatter. Notably, Solana [SOL] is correct within the combine.

On the technical entrance, SOL is the worst-performing asset among the many prime 5 high-caps, with a 27% annual loss. To place that into perspective, Binance Coin [BNB] is up 27% over the identical interval.

Supply: TradingView (SOL/USDT)

In actual fact, that is shaping as much as be Solana’s weakest yearly efficiency because the 2022 bear market. And with that backdrop, HODLers are already exhibiting indicators of fading conviction. 

Solana’s Net Realized Profit/Loss has flipped deep purple, which means holders are realizing losses, marking a basic capitulation learn. At this level, many are both ready for a cleaner entry or stepping out of the cycle solely.

Both manner, SOL has arrived at a key inflection level. That mentioned, whereas the chart strongly leans bearish, the broader Solana ecosystem appears to be pushing in the other way, doing simply sufficient to maintain FOMO in play.

Can RWAs pull Solana out of the hypothesis bucket?

Solana’s current roadmap makes its strategic pivot fairly clear. Throughout its latest partnerships, practically 80% are actually RWA-focused.

Bhutan has launched tokenized gold. Keel, an institutional capital allocator, has introduced a $500 million fund. In the meantime, Ondo Finance is getting ready to roll out a tokenized liquidity fund on the Solana community.

For context, RWAs are tokenized real-world belongings. By selecting Solana for these launches, these gamers are clearly exhibiting confidence within the community’s on-chain chops – quick transactions, and excessive throughput.

Supply: X

In brief, Solana is pivoting past pure hypothesis.

The outcome? Lookonchain spotted a brand new pockets transferring 37k SOL from Binance, whereas Glassnode reveals roughly 2 million new addresses becoming a member of the community because the mid-October crash, taking the entire to six.5 million.

Why it issues: Regardless of the technical weak spot, Solana is conserving FOMO alive with its current partnerships. SOL is clearly pivoting from a unstable asset towards a utility-driven narrative, drawing in new demand.

Last Ideas

• Solana is the worst-performing asset among the many prime 5 high-caps, down -27% YTD, triggering basic capitulation.
• Regardless of bearish charts, the broader Solana ecosystem is slowly shedding its speculative popularity, exhibiting indicators of pivoting towards utility-driven adoption.