Ethereum

Solana

Hope

Once again the crypto market is buoyant with the question can Solana flip Ethereum (<a href="https://yellow.com/asset/eth">ETH</a>) as the <a href="https://yellow.com/asset/sol">SOL</a> <a href="https://crypto.news/can-solana-flip-ethereum-find-out-whats-at-stake-for-your-crypto-holdings/">looms</a> closer to its all-time high (ATH). The digital asset has seen phenomenal growth and has taken some share of the Ethereum market recently. Solana has registered a 70% growth compared to ETH, making it a top contender in the blockchain ecosystem. 
Metrics like decentralized exchange (DEX) volume and protocol fees vindicate Solana flipping Ethereum predictions. The Solana blockchain has fared better than ETH in DEX volume and protocol fees this year. While the SOL registered $77.51 billion DEX volume in November, Ethereum stood at $38.81 billion, nearly half of the Solana blockchain. 
This shows that crypto traders are choosing the Solana blockchain over Ethereum due to its Raydium and Pump.fun projects. In terms of protocol fees also Solana has flipped Ethereum as the former collected $343.96 million in protocol fees compared to $178.65 million of ETH. This has put the SOL blockchain in a strategic advantage over the Ethereum network. 
However, when it comes to stablecoin supply Ethereum has taken a lead over Solana. But SOL is slowly beginning to challenge that dominance by launching stablecoins like sUSD and USDS. In terms of total value locked (TVL), Ethereum is dominating Solana due to its first movers advantage but the latter is gradually catching up as the network finds more acceptance in the crypto market. 
Solana’s meme coin ecosystem is an important avenue in its race to overcome Ethereum’s dominance as SOL-based meme coins stand at $22 billion market capitalization due to the recent bullish run in the crypto market. Of the top 10 meme coin tokens, 70% are Solana-based digital assets. All of these cryptocurrencies have seen a double-digit growth in the last one week. 
The technical indicators of SOL also suggest a positive outlook as it shows that the SOL/ETH pair has hit the 0.07977 mark recently and targeting the 0.09 level. Solana was trading at $238.56 earlier today. The coin is about a 10% surge away from hitting its ATH as the upward trend continues. 
The digital asset also has a high correlation with Bitcoin (0.98) which indicates that a possible price correction could affect its ongoing rally but the bullish trend remains and technical indicators are further supporting it. 
At press time, Solana was down 3.25% trading at $233.84 with a 1.42% surge in trading volume which was now at $6.80 billion while the market cap declined to $110.96 billion. On the other hand, Ethereum was down 0.98% to trade at $3071 with a 6.14% decline in its trading volume which was now at $30.32 billion and a market cap of $370.04 billion.

SOL Looming 10% Near Its ATH Triggers Solana Flipping Ethereum Hope

Yellow News

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