Solana Surpasses Ethereum in dApp Revenue — Will SOL Price Hit $200 This Month?
Solana Overtakes Ethereum in dApp Revenue — Will SOL Hit $200 This Month?
Solana has officially outpaced Ethereum in decentralized application (dApp) revenue, fueling bullish speculation that SOL could rally to $200 or more in July.
Solana Dethrones Ethereum in dApp Revenue
In June 2025, Solana generated over $146 million in dApp revenue, surpassing Ethereum and BNB Chain by a wide margin. This marks yet another month of dominance for Solana in terms of DeFi earnings and user activity.
According to The Block, Solana has consistently led in decentralized exchange (DEX) volume since October 2024, maintaining its top spot with $5.78 billion in July, compared to Ethereum’s $4.7 billion.
Solana’s dominance is not just in volume. Since November 2024, it has also outperformed Ethereum in transaction fees collected from dApps and smart contract protocols. In June alone, dApps on Solana accounted for 41% of the chain’s total revenue, highlighting strong ecosystem engagement.
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Will SOL Price Hit $200 in July?
As of now, SOL is consolidating above the $140 support level, and analysts suggest a breakout could be imminent.
A 15% rally could drive the price toward the $170 resistance, with stronger targets at $200 and $218.40 — the latter being a key resistance zone untouched for 16 months.
Key indicators like RSI and MACD show continued bullish momentum. A daily close above $150 would confirm the breakout, while a short-term dip could sweep liquidity below $148 before a rebound.
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Solana Ecosystem Momentum Builds
Solana’s relevance in the broader crypto space continues to grow:
Bitcoin trading volume on Solana hit a quarterly high in Q2 2025, outpacing Ethereum as a preferred chain for BTC activity.
Solana’s recent hackathon “Colosseum” showcased dozens of innovative dApps, further energizing developer activity.
Solana’s cost-efficiency has drawn attention from legacy finance. The Solana Foundation estimates Visa and Mastercard could cut transaction fees by 99% if they migrated to Solana’s network.
These developments are creating real-world use cases that could help drive institutional and retail adoption.
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Analyst: SOL Could Reach $400–$500
> "Solana, buoyed by its expanding DeFi and NFT infrastructure and potential for staking ETF inclusion, could reach $400–$500 under bullish conditions,"
— Ryan Lee, Chief Analyst at Bitget Research
Lee cautions that while long-term prospects remain strong, broader market volatility could cap gains in the $300–$350 range for now.
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Final Thoughts
With leading dApp revenue, surging DeFi activity, and strong technical support, Solana appears primed for a bullish breakout in July. If momentum holds, the $200 target may only be the beginning.