Solana (SOL) has seen its spot value drop below its Realized Price for the first time in three years, indicating that the average investor is underwater. The Realized Price is an indicator that shows the cost basis of investors on a given network. When the spot price is above the Realized Price, it suggests net unrealized profits, but being below the indicator means investors are in a loss. The last time SOL experienced this crossover was in 2022, which marked the start of a bear market. This could be a bearish sign for the coin this time as well. Similar trends have been seen in the Realized Price of Bitcoin's short-term holders, indicating a potential drawdown in the near future. Solana is currently trading at around $124, down nearly 9% in the past week.



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