Ethereum vs. Solana: The $630B altcoin battle – Who will lead Q3?

Key Points

1. Approximately $630 billion has moved into altcoins recently, with Bitcoin dominance rejecting sharply off the 66% resistance level last seen in 2021.

2. Solana (SOL) initially led in Q2 with a 30% rally in April but retraced to 0.056 SOL/ETH by June, while Ethereum (ETH) delivered a stronger 36.48% ROI in Q2.

3. Solana saw $8.3 billion in new inflows over the past week, outpacing Ethereum's $6.2 billion, but ETH's price action has been stronger, rallying nearly 7% weekly compared to SOL's 2.6% gain.

4. The SOL/ETH ratio has broken down, failing to hold the 0.06 level, with Ethereum showing resilience by rebounding to a quarterly high of $2,878 after a shallow 3% pullback.

5. Solana retraced 24% from its Q2 peak at $187, printing three consecutive lower lows, while Ethereum maintained relative strength, suggesting an uphill battle for SOL in Q3.