Solana Surges as Analyst Sees Potential for Ethereum-Style Rally
Solana (SOL) has emerged as one of the top-performing cryptocurrencies recently, trading around $211 on Monday—up 33% from early August lows. Over the past month, SOL has gained 34% against bitcoin and 14% versus ether (ETH), reflecting a broader rotation into altcoins, analysts say.
“The redistribution of profits across crypto holders continues,” said Sergei Gorev, head of risk at YouHodler. He highlighted capital moving out of BTC into second-tier tokens, with SOL and XRP standing out as attractive opportunities.
Jeff Dorman, chief investment officer at Arca, believes SOL could follow Ethereum’s nearly 200% rally earlier this year, which was driven by stablecoin adoption, strong ETF inflows, and sustained demand from digital asset treasuries (DATs).
“SOL appears poised to replicate ETH’s playbook,” Dorman wrote. He noted that Solana-focused DATs are raising up to $2.65 billion, potentially channeling significant capital into SOL in the coming month. With SOL’s market cap roughly one-fifth of ETH’s, the token could see amplified price moves if these flows materialize.
The first U.S.-listed Solana ETF, launched in July, is futures-based, but several asset managers—including VanEck and Fidelity—have filed for spot ETFs, with decisions expected later this year.
Additional momentum drivers include Galaxy Digital tokenizing its shares on Solana and the upcoming Alpenglow upgrade, which is set to improve transaction speeds and finality.
Dorman summarized the opportunity:
“SOL might be the most obvious long right now. If ETH rose nearly 200% on roughly $20 billion of new demand, imagine what SOL could do with $2.5 billion or more of fresh flows.”
