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BTC$82,889-1.25%ETH$1,787.72-1.05%USDT$1.000.01%XRP$2.13-0.17%BNB$593.08-0.46%SOL$118.26-3.76%USDC$1.000.00%DOGE$0.17-1.91%ADA$0.65-1.20%TRX$0.24-1.77%STETH$1,785.66-1.44%WBTC$82,674-1.56%LEO$9.07-4.58%TON$3.29-3.36%LINK$12.67-1.59%USDS$1.00-0.00%XLM$0.25-3.89%WSTETH$2,139.92-0.81%AVAX$17.92-0.62%SUI$2.22-2.38%SHIB$0.00001216-1.50%HBAR$0.16-2.83%LTC$82.20-2.22%OM$6.28-0.60%DOT$3.92-3.27%BCH$298.45-0.26%BGB$4.44-2.66%USDE$1.00-0.03%BSC-USD$1.00-0.35%WETH$1,788.04-0.83%BTC$82,889-1.25%ETH$1,787.72-1.05%USDT$1.000.01%XRP$2.13-0.17%BNB$593.08-0.46%SOL$118.26-3.76%USDC$1.000.00%DOGE$0.17-1.91%ADA$0.65-1.20%TRX$0.24-1.77%STETH$1,785.66-1.44%WBTC$82,674-1.56%LEO$9.07-4.58%TON$3.29-3.36%LINK$12.67-1.59%USDS$1.00-0.00%XLM$0.25-3.89%WSTETH$2,139.92-0.81%AVAX$17.92-0.62%SUI$2.22-2.38%SHIB$0.00001216-1.50%HBAR$0.16-2.83%LTC$82.20-2.22%OM$6.28-0.60%DOT$3.92-3.27%BCH$298.45-0.26%BGB$4.44-2.66%USDE$1.00-0.03%BSC-USD$1.00-0.35%WETH$1,788.04-0.83%

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SOL/ETH Ratio Hits New All-time High

Solana continues to outperform as memecoin mania shows no signs of slowing down.
By: Squiffs • October 22, 2024
solana logo

The SOL/ETH ratio has been climbing throughout 2024 and has hit a new all-time high as Solana continues to outperform.

On Oct. 22, the SOL/ETH ratio hit 0.064, a 5% increase from its previous all-time high of 0.061 on Aug. 8, and is up 340% over the last year.

SOL/ETH chart
SOL/ETH - TradingView

The price action is indicative of Solana’s increase in mindshare, driven largely by the success of memecoins on the chain. The SOL token has soared 550% over the last year, rallying from $25.75 to $168, while Ether has struggled, up just 52% in the same period.

Solana’s DEX growth continues to outperform all other blockchains, and Solana-based DEXs are on track to process more monthly volume than Ethereum’s for only the second time.

As a result, Solana’s DeFi scene has also been picking up, and the chain's total value locked (TVL) is up to $6.4 billion, making it the 3rd largest chain in DeFi, compared to $350 million in October 2023. However, despite growing almost twenty-fold, Solana’s TVL is still 36% off its all-time high of $10 billion in November 2021.

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