Solana (SOL) Price: Tops Ethereum in DEX Volume for 10th Straight Month, $270 in Sight

TLDR

• Solana beats Ethereum in DEX trading volume for the 10th consecutive month, recording $124 billion in July with a 42% increase
• Developer interest jumps to over 40% of founders choosing Solana in 2025, up from 25% in 2024
• Price is testing the $210-$220 resistance zone with analysts predicting potential breakout to $270 target
• Solana ranks as third-largest crypto by trading volume at $33.3 billion daily, behind only Bitcoin and Ethereum
• Google search interest for Solana reaches all-time highs while Bitcoin and Ethereum searches remain below peaks

Solana continues to challenge Ethereum’s dominance in decentralized finance, beating it in DEX trading volume for the tenth month in a row. The blockchain recorded $124 billion in DEX volume during July.

This marks a 42% increase compared to Ethereum during the same period. The data comes from SolanaFloor and shows Solana’s growing market share in DeFi trading.

Developer adoption has accelerated in 2025. Alliance DAO data shows over 40% of blockchain founders now choose Solana for their projects.

This represents a major shift from 2024 when only 25% of developers picked Solana. The increase reflects the blockchain’s appeal to builders seeking speed and low costs.

Solana’s scalability advantages continue driving this migration. The network handles high-speed transactions at low fees, making it attractive compared to congested alternatives.

Performance-oriented projects find Solana suitable for handling large transaction volumes without slowdowns. This technical edge supports its growing developer ecosystem.

Solana Price Prediction

SOL price is currently challenging the $210 to $220 resistance band that has capped rallies since spring. Analyst Ted notes this level could launch the next major move higher.

The price structure shows an ascending triangle formation. This pattern suggests a breakout phase may be approaching.

Technical indicators support the bullish case. The 20-day Simple Moving Average provides support around $191.

MACD indicators show green momentum bars, pointing to potential continued upward movement. Price remains stable above the $205 zone following last week’s breakout.

Analyst Kamran Asghar predicts SOL could reach $300 based on positive market trends. He sees the cryptocurrency positioned for further gains after emerging from recent challenges.

If Solana breaks above $220, the next targets sit at $250 to $270 according to multiple analysts. Some see an initial move to $215, then potentially to $228 and $240.

Trading Volume Reinforces Market Position

Solana has secured its position as the third-largest cryptocurrency by trading volume. Daily activity reached $33.3 billion, outpacing all other major altcoins.

Analyst MartyParty highlights this volume achievement as evidence of strong market depth. The trading activity sits behind only Bitcoin and Ethereum.

Funding rates remain balanced despite building open interest. This suggests the market isn’t leaning into excessive leverage positions.

Google Trends data shows Solana search interest hitting new all-time highs. This contrasts with Bitcoin and Ethereum searches, which remain below their historical peaks.

Analyst Zach points to this search divergence as evidence of growing retail attention. Rising search activity typically correlates with increased participation and liquidity.

On-chain metrics support the price momentum. Strong DEX performance often acts as a catalyst for breakout attempts.

The combination of technical setup and fundamental strength positions SOL for its next move. Volume continues at elevated levels while price battles the resistance zone.

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