Solana Becomes 4th Most Traded Crypto – Is It Aiming for ETH & BTC’s Top Spots?

Solana is now the fourth most traded crypto, trailing the resurgent Ethereum and soaring Bitcoin. USDT stablecoin is the most actively traded crypto asset.

Solana is solidifying its position in the top 10 by rising through the rankings, flipping XRP and BNB, and generating massive trading volume. Latest data from Coingecko shows that SOL is now the fourth most traded crypto, trailing only USDT, Bitcoin, and Ethereum.

Solana: The 4th Most Traded Crypto

According to market trackers, over $25.5 billion of SOL ▲2.20% positions were traded in the last 24 hours, far exceeding Dogecoin and USDC trading activity.

At this pace, SOL has cemented its position among the best cryptos to buy.

USDT remains the most traded asset, generating over $167 billion in trading volume due to its role as the largest USD-tracking stablecoin. With a market cap exceeding $161 billion, USDT is technically the third-largest crypto asset, outpacing Solana and other top cryptocurrencies like Cardano and Polkadot.

Ethereum ranks second, generating over $54 billion in trading volume across multiple exchanges. The surge in trading volume coincides with rising ETH prices, particularly following favorable regulations in the United States.

(Source: Coingecko)

Over recent trading days, ETH trading volumes have spiked as investors and institutions pour into the second most valuable coin. If ETH breaks $3,000, more traders may buy the coin, boosting trading volume and lifting other assets, including Solana, in the smart contracts layer-1 category.

Despite trading near all-time highs, Bitcoin is lagging, with over $53.2 billion of BTC traded in the past 24 hours. Currently, upside momentum is fading. However, if BTC breaches $123,000 and reaches new all-time highs, trading volume, primarily from centralized exchanges, may rise, flipping Ethereum for second place.

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What’s Driving SOL Crypto Trading Volume?

The surge in Solana trading volume is tied to its strong price performance in recent trading days.

At current rates, SOL has broken above the psychological resistance of $200, and buyers are stepping in.

In July 2025, SOL is up 46%, and traders are optimistic, expecting the coin to retest its all-time high of $295. Technically, buyers have the upper hand, qualifying SOL as possibly the next crypto to explode.

Solana

Price

Market Cap

SOL

$107.64B

24h7d30d1yAll time

As long as prices remain above $195 or Q2 2025 highs, trading volume and prices will likely increase. In turn, this could propel SOL to January 2025 highs.

This uptick coincides with the recovery of Solana meme coins. In the last 24 hours, the total market cap of Solana meme coins rose nearly 7% to over $15.8 billion.

BONK is the most valuable in this category, surging 24% in the past week. Despite millions of tokens unlocked, TRUMP remains firm, adding nearly 20% in the past week and holding above the psychological support of $10.

As momentum builds in the Solana meme coin scene, SOL prices and trading volume will also keep rising. In the previous bull run in H2 2024 and early Q1 2025, SOL prices soared, and trading volume exploded as the meme coin boom drew traders to the platform.

Interest in Solana also stems from growing institutional adoption. As investors and institutions create ETH treasuries, there is optimism that the eventual approval of a spot Solana ETF could lead public companies to explore Solana. On Polymarket, punters place a 99% chance of the SEC approving a spot Solana ETF by the end of 2025.

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