Emre Yumlu 
Solana saw over $485 million in capital outflows in February as investors moved towards safer digital assets.
Solana Sees $485 Million Outflows as Investors Seek Safer Digital Assets
Solana experienced over $485 million in outflows last month, with investor capital predominantly flowing into Ethereum, Arbitrum, and BNB Chain. This shift reflects a growing search for safe-haven assets in the crypto market.
“The search for safe havens in the crypto markets has increased, with Bitcoin dominance rising 1% to 59.6%,” the report noted. Additionally, “Some of the capital flowed into BNB Chain memecoins, influenced by CZ’s tweets about his dog, Broccoli,” it added.
Beyond Solana, the total market capitalization dropped by 20% in February, reflecting increasing negative sentiment.
Memecoins and Bybit Hack Impact Investor Sentiment
Macroeconomic concerns and the $1.4 billion Bybit hack on February 21st have further dampened crypto investor sentiment. Disappointment in Solana-based memecoin launches also curtailed investor appetite, particularly following the launch of the Libra token endorsed by Argentine President Javier Milei.
The insider theft of over $107 million in liquidity led to a rug pull, causing a 94% price drop and wiping out $4 billion in investor capital.
Anastasija Plotnikova, CEO of blockchain regulatory firm Fideum, commented, “Memecoins have transformed from community-driven social experiments into a chaotic landscape where retail investors are exploited for value.” “Insider schemes, pump-and-dump plans, and sniper groups have altered the organic, collectible nature of original memecoins, creating an unhealthy playing field,” she added.
Stablecoins and RWAs Reach Record Highs Amid Market Uncertainty
Stablecoins and real-world assets (RWAs) have reached all-time highs as investor capital continues to flow into more predictable assets. Stablecoins surpassed $224 billion, while on-chain RWAs reached a cumulative high of $17.1 billion across 82,000 asset holders.
This capital rotation is attributed to macroeconomic factors, including increasing trade tensions and diminished expectations of interest rate cuts, which impacted the crypto market’s performance in February. In such an environment, investors may choose to hold stablecoins as an alternative.
P2P.org’s Chief Revenue Officer, Alexander Loktev, suggested that continued uncertainty in global risk assets like Bitcoin and cryptocurrencies could drive RWAs to $50 billion by 2025.
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