Is it time to switch from ETH to SOL as Solana surpasses Ethereum?

  • Exciting News: Solana and Ethereum Activity Comparison!
  • Ethereum Holds TVL Crown, While Solana Surpasses in Daily Activity

The latest data reveals a fascinating shift in activity levels between Solana [SOL] and Ethereum [ETH]. Solana’s surge in activity has surpassed Ethereum, leading to higher trading volume for the former.

Check out the data showing Solana’s remarkable performance over the past 24 hours, with active addresses surpassing the combined total of Ethereum and Bitcoin.

In a closer look at both platforms, we see a significant divergence in their recent active address trends.

Delving into Solana and Ethereum

Solana’s active addresses maintain an impressive trend according to data from their analytics platform. The network has consistently maintained over 800,000 active addresses, with recent numbers now exceeding 1 million.

On the flip side, Ethereum’s active addresses have seen a decline, remaining below 500,000 in the past month and dropping even further. Current data shows approximately 141,000 active addresses for Ethereum.

Solana active wallets

Source: Solscanner

Moving on to volume trends, Ethereum has dominated Solana on DefiLlama’s data recently. Though Ethereum’s volume surpasses Solana’s overall, Solana experienced a surge at one point.

At present, Solana’s network volume sits at approximately $1.1 billion, with Ethereum slightly higher at around $1.5 billion. Despite this, ETH’s TVL outshines SOL’s, standing at over $65 billion compared to SOL’s $4.8 billion, as reported by DefiLlama.

Tracking Bull Trends for ETH and SOL

An analysis of Ethereum’s daily chart reveals a solid bull trend, with the RSI indicating strength above 60. Despite minimal movement in price recently, Ethereum trades at around $1,877 as of now, showing a slight increase.

Ethereum price trendEthereum price trend

Source: TradingView

On the Solana front, the RSI shows a neutral position, indicating a weaker bull trend compared to Ethereum. As of now, Solana is trading at approximately $165, with minimal price movement in recent days.

Solana price trendSolana price trend

Source: TradingView

 Curious about Solana (SOL) Price Predictions for 2024-25?

As we wrap up, it’s clear that both Solana and Ethereum are experiencing intriguing shifts in activity and volume trends. Keep an eye on these networks for further developments in the near future.

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