Solana has surpassed Ethereum in decentralized application (dApp) revenue, achieving over $146 million in June 2025 alone. This milestone underscores Solana’s established dominance in dApp revenues and key performance metrics, positioning it ahead of major competitors including Ethereum and BNB.
Since mid-2024, competition between the two leading smart contract platforms, Solana and Ethereum, has intensified. The primary metrics contested by both ecosystems include decentralized exchange (DEX) transaction volume, revenue from dApp fees, total value locked (TVL), and decentralized finance (DeFi) market dominance.
Throughout this competitive span, data indicates Solana maintained a significant advantage. Notably, since October 2024, decentralized exchanges running on Solana have consistently surpassed Ethereum-based DEXes in trading volumes. In July 2025, for instance, preliminary figures show Solana-based DEXes processed approximately $5.78 billion in total volume, compared to Ethereum’s $4.7 billion.
Similarly, fee generation from on-chain transactions has followed a comparable pattern, with Solana surpassing Ethereum on transaction fees beginning in November 2024 and continuing through June 2025.
For June, Solana’s dApp-related revenue surpassed $146 million, representing approximately 41% of its blockchain’s total revenues during the period—consistently higher than its competitors, Ethereum and BNB. These robust earnings suggest a rapidly expanding ecosystem anchored by strong user activity and a diverse array of applications.
From a technical analysis perspective, Solana (SOL) recently demonstrated strength by maintaining key support above the $140 level. Analyst reviews indicate that a healthy consolidation pattern is currently underway, and chart studies suggest a potential rally towards the $170 resistance zone if bullish momentum remains sustained. Additionally, further upside, should it occur, would test major resistance barriers located near psychological levels at $200 and subsequently at $218.40, where previous historical resistance points have capped price movements for nearly sixteen months. In the shorter term, technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both strongly favor potential gains, reinforcing a bullish trend moving into the third quarter of 2025.
Recent developments within the Solana ecosystem have further reinforced this bullish sentiment. Bitcoin trading volumes on Solana’s infrastructure reached new record highs during the second quarter of 2025, marking increased significance for BTC traders and adding credibility to the blockchain. Additionally, Solana recently concluded its major global event, the Colosseum Breakout Hackathon, which saw over 10,000 participants from 140 different countries submit more than 1,400 unique projects, highlighting the growing developer interest in the blockchain.
Solana’s approach to transaction cost optimization also gained attention. The network’s team proposed a compelling scenario in which global payment giants Visa and Mastercard could potentially lower transaction costs drastically—reportedly achieving 99% cost reductions—by operating transactions through Solana’s blockchain infrastructure rather than conventional systems, according to the projections presented.
Ryan Lee, Chief Analyst at Bitget Research, provided an optimistic outlook for Solana when assessing its prospects for the remainder of the year. Lee emphasized the expanding DeFi and NFT ecosystems, alongside the possibility of future staking ETF inclusion, as monolithic drivers capable of potentially pushing Solana’s price into the $400-$500 range in a bullish market scenario. However, he tempered expectations by cautioning investors against volatility and market risk, forecasting a more realistic intermediate range from $300 to $350 for significant price appreciation moving forward.
Overall, expert opinions, robust ecosystem metrics, and technical data collectively indicate Solana continues positioned for strong growth and potential price breakthroughs moving into the year’s later phases.
