Solana Pulls Ahead in dApp Revenue—But Can It Last?
Solana’s been on a tear lately, at least when it comes to money flowing through its decentralized apps. In June, the blockchain reportedly raked in over $146 million from dApps—putting it well ahead of Ethereum and BNB Chain. That’s not a one-off, either. For more than a year now, Solana’s consistently topped the charts in this category.
But here’s the thing: revenue isn’t everything. Ethereum still has a stronger hold on things like developer activity and institutional trust. So while Solana’s numbers look impressive, the race isn’t exactly over.
How Solana Stacks Up Against Ethereum
If you look at DEX trading volume, Solana’s been leading since late 2024. Data from TheBlock shows Solana-based exchanges hit $5.78 billion in July 2025, compared to Ethereum’s $4.7 billion. That’s a solid gap, though it’s worth noting Ethereum’s numbers include layer-2 solutions, which complicate direct comparisons.
Fees tell a similar story. Since November 2024, Solana’s consistently pulled in more transaction fees than Ethereum. Some of that comes from its lower costs—transactions are just cheaper on Solana, which attracts users. But whether that’s sustainable long-term is another question.
Where Solana’s Price Could Be Heading
Right now, SOL is hovering around $140, with some analysts eyeing a push toward $170 if bullish momentum holds. The RSI and MACD indicators suggest there’s room for growth, but crypto being crypto, nothing’s guaranteed.
A drop below $140 could signal trouble, with the next major support level much lower. On the flip side, breaking past $150 might confirm a stronger uptrend. Traders seem cautiously optimistic, but the market’s mood can shift fast.
What’s New in the Solana Ecosystem
Bitcoin trading on Solana hit a record last quarter, which is interesting—it suggests the chain’s becoming a real alternative for BTC traders. Then there’s the recent hackathon, Colosseum, which drew over 10,000 participants. Not bad for a chain that was written off after the FTX collapse.
And here’s a wild stat: Solana claims Visa and Mastercard could save 99% on transaction costs by switching to its blockchain. Whether that’s realistic is debatable, but it’s the kind of headline that gets people talking.
What the Experts Are Saying
Ryan Lee from Bitget Research thinks SOL could hit $400–$500 in a best-case scenario, though he admits broader market risks might keep it closer to $300. His take? Solana’s DeFi and NFT growth helps, but crypto’s volatility means nothing’s set in stone.
For now, Solana’s riding high. But in crypto, today’s leader can be tomorrow’s afterthought. We’ll see if the momentum holds.
