Solana appears relatively undervalued versus BNB despite price lag: strong on-chain throughput, record ETP inflows and rising network volume indicate persistent demand for SOL, while BNB’s short-term momentum has driven a temporary rotation into Binance Coin.
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Solana shows far higher on-chain activity than BSC, suggesting potential undervaluation
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BNB’s 30‑day rally (≈50%) outpaced SOL, driving a SOL/BNB ratio decline to 0.20
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Solana ETP inflows reached $706M this week, a 127% beat over the prior peak
Meta description: Is Solana undervalued? Strong on-chain activity and record ETP inflows point to a bullish Solana outlook—read the latest data and trade implications.
What is driving the view that Solana is undervalued?
Solana is viewed as undervalued because on-chain metrics and institutional flows show persistent demand even as price lags. Economic transactions, ETP inflows and elevated network volume together point to a disconnect between fundamentals and market pricing.
How has the SOL/BNB dynamic shifted recently?
BNB has logged a ~50% jump over 30 days while SOL rose just ~1.5%, pushing the SOL/BNB ratio to 0.20 — the lowest since Q4 2023. This indicates a short-term capital rotation into BNB rather than a structural weakness in Solana.
Weekly on-chain trends highlight a multi-polar market
BNB’s price momentum has dominated headlines, but on-chain figures paint a different picture for network activity.
Solana recorded 503.6 million economic (non-vote) transactions this week, outpacing BSC by more than 4.4×, which supports the thesis of sustained user demand.
Source: CryptoQuant (mentioned as plain text)
Solana Exchange Traded Products collected $706 million this week, a 127% increase above the previous all-time high. That level of capital inflow is a concrete institutional signal that demand is real and potentially ahead of price discovery.
What happens to Solana if market leadership rotates?
SOL dipped under $230 support during the market risk-off phase and now consolidates between $220–$230. Daily network volume is above $7 billion, roughly 24% higher than BNB’s, which underlines bid support for Solana at current levels.
Source: TradingView (SOL/BNB) — plain text reference
BNB’s short‑term RSI looks extended and a modest intraday pullback of 2.2% could preface a rotation back into SOL. A combination of BNB technical exhaustion and Solana’s robust flow/volume picture creates a plausible setup for a “buy the dip” scenario.
Frequently Asked Questions
Is Solana’s on-chain activity enough to justify price upside?
Strong on-chain metrics—including >500M weekly economic transactions and higher daily volume—support the case that Solana’s fundamentals can lead to price appreciation once capital rotation resumes.
How do ETP inflows affect Solana’s price?
Large ETP inflows (this week’s $706M) increase buy-side pressure by channeling capital into SOL exposure, often preceding broader market recognition and price gains.
Key Takeaways
- On-chain demand: Solana’s transaction throughput and daily volume remain materially higher than BSC, signaling persistent user activity.
- Capital flows: Record ETP inflows ($706M) indicate fresh institutional interest, not a fading fundamental story.
- Rotation risk: BNB’s rapid rally can trigger cyclical rotations; watch RSI and SOL/BNB ratio for near-term trade signals.
Conclusion
Solana currently shows the hallmarks of a fundamentally healthy network while temporarily lagging in price versus BNB. Front-loaded data — transaction counts, volume and ETP inflows — point to a scenario where SOL could reclaim leadership as momentum normalizes. Monitor on-chain metrics, relative momentum and institutional flows for the next actionable signals.
Author: COINOTAG — Published: 2025-10-09 — Updated: 2025-10-09
