Solana hits an all-time high vs. Ethereum
Solana (SOL) hits a new milestone: SOL price reached a record high against Ethereum (ETH).
Solana (SOL) has reached a new milestone: the price of SOL rose to a record high vs. Ethereum (ETH) this week. At its peak, the ratio stood at 0.082 ETH per SOL, a historic first.
From a broader perspective, Solana has performed notably stronger than Ethereum. Since inception, SOL has outperformed ETH by 105 percent. On a yearly basis that gap is still 76 percent, in the last six months 36 percent, on a monthly basis 16 percent, and in the last week alone 21 percent. Even on a daily basis, Solana still shows a 1 percent lead over the veteran altcoin.
The recent record level is due to Solana rising about 10 percent in value last week, while Ethereum dropped about 10 percent. These opposing moves sparked big chatter on X.
Fede Intern, a developer in the Ethereum ecosystem, was not impressed: “The biggest problem is the lack of users.” Also David Hoffmann, host of the influential Bankless podcast and once a vocal Ethereum booster, voiced doubts. “Companies around Ethereum lose relevance once the ecosystem loses its dominant position,” Hoffmann said.
Ethereum has been facing headwinds for some time. In several metrics it’s now being outpaced by Solana, including NFT trading volumes, activity on decentralized exchanges, and the number of active addresses.
Yet Solana also faces criticism, especially around decentralization and stability. But one thing is hardly in question: Solana processes more transactions daily than almost every other major blockchain combined. It’s a feat that the competition will have to chase for now.
