SOL vs ETH: The Exciting Race of 2026 – Has Solana Finally Reached a Turning Point?

2025 has witnessed significant shifts in the balance among leading L1 blockchains. Specifically, the development of infrastructure and applications has created a completely different landscape from initial expectations. As we enter 2026, the competition between Solana [SOL] and Ethereum [ETH] is no longer just theoretical but has become a real struggle, with concrete figures demonstrating each side’s strength.

According to current data (12/01/2026), SOL is trading at $139.75 with a 25.69% decrease over the past year, while ETH remains stable around $3.11K with a 5.30% decline. These numbers reflect an interesting situation: although SOL’s price has dropped more significantly in percentage terms, the Solana platform has achieved notable milestones across many other metrics.

On-chain Revenue: Solana catches up with Ethereum

The biggest turning point appears in the total ecosystem revenue. Data from DeFi Development Corp shows a remarkable reversal: Solana generated $2.5 billion in revenue in 2025, surpassing Ethereum’s $1.4 billion — for the first time in history.

To better understand the extent of this change, just look back at the journey:

• Solana: From $28 million (2021) → $2.5 billion (2025)
• Ethereum: From over $5 billion peak → current $1.4 billion

This is no coincidence. Solana’s rapid growth stems from new sectors like RWA (Tokenized Real Assets), where the industry is experiencing a boom.

RWA: A hot growth driver

The RWA sector added approximately $14 billion in value just in 2025, a 240% increase compared to the previous year. In this context, Solana has demonstrated particular appeal:

• Solana RWA increased by 372%: The volume of RWA capital flowing into Solana is twice that of Ethereum
• Ethereum RWA increased by 198%: Steady growth but at a slower pace

These figures straightforwardly show: Solana not only achieved higher revenue but also attracted larger capital inflows from the most advanced blockchain applications. Solana’s scalability and low transaction costs have become undeniable competitive advantages.

SOL/ETH Ratio: A positive signal amid turbulence

Beyond fundamental data, technical indicators also offer interesting insights. The SOL/ETH ratio in 2025 erased all gains from 2024 (by increasing 27%), but one notable point is:

Despite overall price declines, the SOL/ETH ratio reached a 12-month high of 0.93 in mid-January. On the weekly timeframe, the ratio fluctuates around 0.042, indicating that Solana maintains relative strength in the competition.

From an investor’s perspective, these indicators are meaningful: even in a challenging market, Solana remains sufficiently strong to be a leading candidate in the next rally. Continuous on-chain dominance is not a temporary signal but a long-term trend.

Future: The only question is timing

The fierce competition between SOL and ETH is not just about comparing numbers on the leaderboard. It’s a battle over technology, processing speed, transaction costs, and the ability to attract real-world applications.

The clearest evidence is: Solana’s on-chain revenue has surpassed Ethereum’s, RWA capital inflows into SOL have doubled compared to ETH, and the SOL/ETH price ratio remains higher than at the start of 2025.

Putting all these together, it seems Solana’s resilience in fundamental data will soon be reflected clearly in price action. If this trend continues, 2026 could be a tipping point — when Solana not only surpasses Ethereum in operational metrics but also climbs higher on the market capitalization leaderboard.

Tl;dr:

• Solana has surpassed Ethereum in annual revenue ($2.5 billion vs $1.4 billion), for the first time in history
• RWA capital inflows into Solana are twice those into Ethereum, reflecting industry interest
• The SOL/ETH ratio remains high, indicating Solana’s continued strength in the competition
• With this growth rate, 2026 could be the year Solana moves closer to the top position