Following Solana’s incredible price rally from under $10 in 2022 to nearly $300 by 2025, it has been touted as a possible replacement for Ethereum, the second largest cryptocurrency by market capitalization. This was further fueled by the fact that it appeared that the majority of decentralized finance (DeFi) volume had been moved from Ethereum to Solana due to the advent of the SOL meme coin season.
However, this reversal has yet to occur, with Solana’s price once again falling below $100 and Ethereum retaining its position as the second largest cryptocurrency. Factoring in a possible reversal, this report explores how high Solana’s price would go if it were to actually reach Ethereum’s all-time highest market cap.
Solana price with Atheneum’s ATH market cap of $583 billion
Currently, after hitting new all-time highs in 2025, Ethereum’s record market cap stands at $581 billion, compared to Solana’s $160 billion. Taking this into account, SOL would need to cross the $581 billion market cap mark to completely topple Ethereum.
Using data from the MarketCapOf website, it shows how high Solana’s price would need to reach to achieve Ethereum’s all-time highest market cap. He prices it at $1,022, an increase of 1,178% from the current price. This means that SOL is currently trading 0.8 times lower than the price of ETH.
However, Solana’s dominance over Ethereum also extends outside of its DeFi business. When it comes to real-world assets (RWA), SOL has quickly become a powerhouse and recently successfully overtook Ethereum in terms of RWA users. It exceeded 155,000 users, compared to 153,000 for ETH.
However, when it comes to RWA volume, ETH remains the dominant chain. According to RWA.xyz, there are over $15.5 billion in real-world assets domiciled on Ethereum, compared to $1.7 billion that reside on the Solana blockchain.
Currently, SOL is still far behind ETH. Even with the market decline, ETH still reaches a massive market cap of $246 billion, compared to SOL’s $49 billion. While ETH is the second largest cryptocurrency by market capitalization, SOL is the seventh.
Featured image of Dall.E, chart by TradingView.com
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