In a context of increasing uncertainty on the crypto market, Solana underwent a hemorrhage of capital in February 2025. Investors, scalded by scandals linked to the same and the recent record bybit, turn massively to digital assets deemed more safe.
Solana undergoes a leak of $ 485 million in February
Last February, the Solana blockchain recorded capital outings reaching $ 485 million. These funds mainly migrated to Ethereum, Arbitrum and the BNB chain, according to a report by Binance Research. This massive leak is part of a broader movement of distrust of digital assets considered to be risky.
Bybit's historic hacking on February 21, with $ 1.4 billion stolen, considerably aggravated the negative feeling of investors. This hack, the most important in the history of cryptocurrencies, has accentuated the risk aversion already present on the markets.
The scandals linked to the same in Solana also played a decisive role in this exodus. The case of the Token Libra, associated with the Argentinian president Javier Milei, particularly marked the spirits.
The initiates of the project would have siphoned more than $ 107 million during a massive withdrawal, causing a collapse of 94% of the price and annihilating $ 4 billion in investments in a few hours.
Investors take refuge in more stable values
Faced with this situation, a clear trend is emerging: investors now favor security. The dominance of bitcoin on the market increased by 1% to 59.6%, confirming its status of refuge value in the crypto ecosystem.
The Stablecoins also took advantage of this movement, their capitalization exceeding the historic record of $ 224 billion. At the same time, active active world (RWA) crossed the $ 17.1 billion mark divided between 82,000 holders.
This capital rotation Also explained by macroeconomic factors such as climbing trade tensions and the decrease in expectations of lower interest rates. In this unstable environment, investors prefer to “remove their chips from the table” and have stable parts as an alternative.
The negative feeling towards Solana also manifests itself by a multiplication of short positions in the term markets. The ratio between long and short positions rose suddenly from 4 to 2.5, signaling a radical change in the anticipations of traders. On Binance, investors are now betting four times more downward than upwards.
The Solana ecosystem, despite its technical performance, today pays the price of transformation of the same “of social experiences carried out by the community” into “a chaotic landscape dominated by value extraction”. Without revival of confidence, this trend could increase and weaken this blockchain, which could be, which are, however promising.
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