Solana continues to see inflows from the Ethereum chain, SOL price sustains above $72


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  • Ethereum alternative Solana has noted consistent inflows from the ETH chain. 
  • Solana recently flipped Ethereum for NFT sales according to Cryptoslam data. 
  • Solana price sustained above the $72 mark, yielding nearly 14% weekly gains for holders.

Solana has captivated market participants' attention and attracted capital inflows from the Ethereum chain. SOL is making headlines for airdrops in the Solana ecosystem and the token has yielded double-digit gains for holders in the past week. 

Also read: Ethereum derivatives data points at bullish start for ETH in 2024

Solana competes with Ethereum

The Total Value of assets Locked (TVL) of the Solana chain is nearly 3% of Ethereum, based on DeFiLlama data. Solana’s TVL is $912.62 million, at the time of writing. The rise in Solana’s TVL in the past six months can be attributed to new DeFi projects on the chain and the airdrops by projects in the SOL ecosystem. 

Solana analyst and researcher behind the X handle @0xGumshoe notes that the SOL chain is more capital efficient than Ethereum. The analyst believes that despite Ethereum’s TVL being relatively high when compared to other chains, Solana is doing 70% of Ethereum's Decentralized Exchange (DEX) volume. 

Crypto expert Jacob Canfield identified inflows from Ethereum to Solana and threw his weight behind the Ethereum alternative.

According to data from Cryptoslam.io, Solana’s NFT sales exceeded those of Ethereum on December 9. 

At the time of writing, Solana price is $72.41 and the altcoin has yielded nearly 14% weekly gains and nearly 60% gains in the past month. SOL price has sustained above $72 for the past three days.


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