Solana suffers a leak of 485 million dollars in February

Last February, the Solana blockchain recorded capital outflows reaching 485 million dollars. These funds primarily migrated to Ethereum, Arbitrum, and the BNB chain

In a context of increasing uncertainty in the crypto market, Solana experienced a capital hemorrhage in February 2025. Investors, burned by scandals related to memecoins and the recent record hack of Bybit, are massively turning towards digital assets deemed safer.

Solana suffers a leak of 485 million dollars in February

Last February, the Solana blockchain recorded capital outflows reaching 485 million dollars. These funds primarily migrated to Ethereum, Arbitrum, and the BNB chain, according to a report by Binance Research. This massive outflow is part of a broader movement of distrust towards digital assets considered risky.

The historic hack of Bybit on February 21, with 1.4 billion dollars stolen, significantly worsened the negative sentiment among investors. This hack, the largest in the history of cryptocurrencies, heightened the already present risk aversion in the markets.

The scandals related to memecoins on Solana also played a decisive role in this exodus. The case of the Libra token, associated with Argentine President Javier Milei, particularly left a mark.

Insiders from the project allegedly siphoned off more than 107 million dollars during a massive withdrawal, causing a 94% crash in price and wiping out 4 billion dollars in investments within hours.

Investors seek refuge in more stable values

In light of this situation, a clear trend is emerging: investors now prioritize security. The dominance of Bitcoin in the market increased by 1% to reach 59.6%, confirming its status as a safe haven in the crypto ecosystem.

Stablecoins also benefited from this movement, with their market capitalization exceeding the historical record of 224 billion dollars. Meanwhile, real-world assets (RWAs) surpassed 17.1 billion dollars, distributed among 82,000 holders.

This capital rotation is also explained by macroeconomic factors such as the escalation of trade tensions and diminishing expectations for interest rate cuts. In this unstable environment, investors prefer to “take their tokens off the table” and hold stable coins as an alternative.

The negative sentiment towards Solana is also reflected in a surge in short positions in the futures markets. The ratio of long to short positions abruptly dropped from 4 to 2.5, signaling a radical change in traders’ expectations. On Binance, investors are now betting four times more on the downside than on the upside.

The Solana ecosystem, despite its technical performance, is now paying the price for the transformation of memecoins from “community-driven social experiments” into “a chaotic landscape dominated by value extraction”. Without a resurgence of confidence, this trend could intensify and permanently undermine this promising blockchain.

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