Solana, long considered Ethereum’s fiercest rival, has taken a commanding lead in decentralized application (dApp) revenue — and it’s fueling speculation of a major price rally.
In June alone, Solana-based dApps generated more than $146 million in revenue, once again outperforming both Ethereum and BNB. As this trend continues into July, investors and analysts are now eyeing a potential breakout toward $200 per SOL token.
Solana vs. Ethereum: Who’s Winning in Web3?
Solana has steadily gained ground across key decentralized finance (DeFi) metrics like:
DEX trading volume
Protocol revenue
Transaction fees
Total Value Locked (TVL)
According to data from TheBlock, Solana led DEX volume in June 2025 with $5.78 billion, outshining Ethereum’s $4.7 billion.
Notably, Solana has also topped Ethereum in transaction fee revenue for several consecutive months, reinforcing its growing dominance. dApp activity alone made up 41% of Solana’s chain revenue, a massive figure compared to competitors.
Will SOL Rally to $200?
Solana (SOL) is currently trading above a strong $140 support level. Technical indicators show a bullish setup on the daily chart:
A 15% rally could push SOL to test the $170 resistance.
The next major target? The psychological barrier at $200.
A further breakout could challenge the long-standing $218 resistance, in play since early 2024.
Momentum indicators like RSI and MACD both reflect bullish sentiment, and a daily close above $150 could confirm a strong upward trend. However, weekend volatility may still lead to a brief liquidity sweep below the $148 zone before continuing higher.
Ecosystem Updates: Solana Keeps Building
Beyond just price action, Solana’s fundamentals continue to strengthen:
Bitcoin trading volume on Solana reached a quarterly high, making it a serious contender for BTC holders.
Solana’s hackathon, Colosseum, recently crowned its winners, highlighting the ecosystem’s developer engagement.
In a viral tweet, Solana claimed that Visa and Mastercard could cut transaction costs by 99% if they processed payments on its blockchain — showcasing a real-world use case that continues to attract attention.
Expert Take: Can Solana Go Even Higher?
According to Ryan Lee, Chief Analyst at Bitget Research:
“Solana’s expanding DeFi and NFT infrastructure, plus the potential for a staking ETF, could push SOL toward $400–$500 in a strong bull market. However, short-term gains may be capped around $300–$350 if broader market risks remain.”
Final Thoughts
With Solana leading the charge in dApp revenue and ecosystem growth, its fundamentals are stronger than ever. If current momentum holds, a breakout toward $200 in July looks increasingly likely — but as always in crypto, volatility remains part of the game.
Will SOL hit $200 before July ends? Let us know your predictions in the comments.
