Following the incredible recovery of the Solana price from less than $10 in 2022 to almost $300 by 2025, it has been pitched as a possible replacement for Ethereum, the second-largest cryptocurrency by market cap. This was further fueled by the fact that it seemed the majority of the decentralized finance (DeFi) volume had moved from Ethereum to Solana due to the advent of the SOL meme coin season.
This flippening has yet to happen, though, with the Solana price crashing below $100 again, and Ethereum retaining its position as the second-largest cryptocurrency. Taking a possible flippening into account, this report explores how high the Solana price would go if it were to actually achieve the all-time high market cap of Ethereum.
Presently, after hitting new all-time highs back in 2025, the Ethereum all-time high market cap sits at $581 billion, compared to Solana’s $160 billion. Taking this into account, SOL would have to cross the $581 billion market cap mark to completely flip Ethereum.
Using data from the MarketCapOf website, it tells how high the Solana price would need to be to reach Ethereum’s all-time high market cap. It puts it at a price of $1,022, a 1,178% increase from the current price. This means that SOL is currently trading 0.8x less than the ETH price.
The dominance of Solana over Ethereum also extends outside of its DeFi activity, though. When it comes to Real-World Assets (RWA), SOL quickly became a powerhouse, and recently, it successfully surpassed Ethereum in its RWA users. It moved above 155,000 users, compared to ETH’s 153,000.
However, when it comes to RWA volume, ETH remains the dominant chain. According to RWA.xyz, there is over $15.5 billion in Real-World Assets domiciled on Ethereum, compared to the $1.7 billion that is lying on the Solana blockchain.
Coming to the present, SOL is still well behind ETH. Even with the market decline, ETH is still sitting at a massive $246 billion market cap, compared to SOL’s $49 billion. While ETH is the second-largest cryptocurrency by market cap, SOL is the seventh.
Featured image from Dall.E, chart from TradingView.com
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