Solana Rallies as Analyst Predicts Potential to Mirror Ethereum’s Big Gains
Solana (SOL) has stood out in the crypto market, trading around $211 on Monday—up 33% from early August lows. Over the past month, SOL has climbed 34% against bitcoin and 14% versus ether (ETH), reflecting a broader market rotation into altcoins.
“The ongoing redistribution of profits among crypto holders continues,” said Sergei Gorev, head of risk at YouHodler. He noted capital moving out of BTC into second-tier tokens, with SOL and XRP emerging as key beneficiaries of these flows.
Jeff Dorman, chief investment officer at Arca, sees SOL positioned to follow Ethereum’s near 200% rally earlier this year, which was fueled by stablecoin adoption, strong ETF inflows, and persistent demand from digital asset treasuries (DATs).
“SOL appears poised to execute the same playbook ETH just completed,” Dorman said. He highlighted that Solana-focused DATs are raising up to $2.65 billion, which could flow into SOL over the next month—a significant boost given that SOL’s market capitalization is roughly one-fifth of ETH’s.
While the first U.S.-listed Solana ETF, launched in July, is futures-based, asset managers including VanEck and Fidelity have filed for spot ETFs, with approvals expected later this year.
Recent network developments add to the positive outlook. Galaxy Digital tokenized its shares on Solana, and the Alpenglow upgrade aims to improve transaction speed and finality, reinforcing market confidence.
Dorman summarized the opportunity:
“SOL might be the most obvious long right now. If ETH rose nearly 200% on about $20 billion of new demand, imagine the impact $2.5 billion or more could have on SOL.”
