Solana memecoin scams and rug pulls are driving capital outflows to Ethereum and Arbitrum as user activity declines, but analysts say it may benefit Solana long-term.
Rug pulls and insider schemes involving Solana-based memecoins are driving investor outflows and a decline in capital inflows, as confidence in the sector deteriorates.
The rate of monthly capital inflow into Solana (SOL) and Solana’s MEME index turned to a monthly negative of -5.9%, according to a Glassnode chart shared with Cointelegraph.
Market: top asset realized cap percent change, 30-days. Source: Glassnode
