- Solana flipped Ethereum in staking market cap, pushed by greater participation and rising retail confidence
- Rising USDC exercise on Solana hinted at rising real-world adoption
Solana [SOL] isn’t simply rushing previous Ethereum in staking market cap, it’s additionally staking a declare to real-world relevance. From powering a surge in Circle’s stablecoin flows to redefining what utility seems like on-chain, Solana’s newest strikes counsel it’s not only a high-performance chain.
It’s slowly changing into the market’s momentum play.
Solana flipped Ethereum in staking market cap
Solana now leads the staking race with a market cap of $53.96 billion, narrowly edging previous Ethereum’s $53.77 billion. This flip is an indication of Solana’s rising consumer base, rising validator confidence, and superior staking participation charge of 64.86%, This, in comparison with Ethereum’s 28.16%.
Supply: X
The mixture of upper reward charges and quicker throughput is clearly resonating with stakers.
Whereas Ethereum nonetheless dominates in developer exercise and institutional presence, Solana’s uptick signifies that retail and DeFi ecosystems are voting with their tokens. And, they’re staking them on Solana.
Solana as Circle’s new progress engine
Solana’s lead in staking isn’t only a numbers recreation. It’s displaying up in real-world utilization too.
Its rising position in Circle’s USDC ecosystem highlights that each worth and consumer exercise are more and more shifting to the Solana community.
Supply: X
Solana is rapidly changing into Circle’s second-largest minting hub after Ethereum, reflecting a broader shift in consumer exercise and asset allocation. Solana’s stablecoin provide surged in late January and it has since stabilized at over $10 billion – Far forward of rival chains like Base, Arbitrum, and Avalanche.
Customers are shifting the place velocity, price, and liquidity align. And the place customers go, stablecoin issuance follows.
Solana’s worth outlook
Solana was buying and selling at $139.80 at press time, up 1.41% on the day as bullish momentum held agency.
The MACD remained in optimistic territory, although the hole between the MACD and Sign line has been narrowing – A possible signal of cooling momentum. In the meantime, the RSI sat at 58.45 and hinted at room for additional upside.
Supply: TradingView
Value motion highlighted constant greater lows since early April, indicating a powerful short-term pattern.
If bulls can push previous $145, SOL may retest the March highs close to $150. Nonetheless, if the momentum fades, a pullback in direction of $130 assist zone could be probably.