Solana Rises to 4th Place in Trading Volumes – Is It Targeting the Top Positions of ETH & Bitcoin?

Solana has ascended to become the fourth most actively traded cryptocurrency, following the rejuvenated Ethereum and rising Bitcoin. The USDT stablecoin leads as the most frequently traded crypto asset.

Solana is reinforcing its status within the top 10 by climbing the charts, overtaking XRP and BNB, while also creating substantial trading volume. Recent statistics from Coingecko reveal that SOL is now the fourth most traded crypto asset, surpassed only by USDT, Bitcoin, and ETH.

Solana: The 4th Most Actively Traded Crypto asset

Per crypto market analytics, over $25.5 billion worth of SOL ▲5.14% was traded in the past 24 hours, far outpacing Dogecoin and USDC trading levels.

At this rate, SOL has established its place among the top cryptos to invest in.

USDT holds the title of the most traded asset, generating over $167 billion in trading volume due to its dominance as the leading USD-pegged stablecoin. With a market capitalization surpassing $161 billion, USDT stands as the technically third-largest crypto asset, surpassing Solana and notable cryptocurrencies such as Cardano and Polkadot.

ETH takes the second spot, accumulating over $54 billion in trading volume across various exchanges. This surge in trading activity aligns with the increases in ETH prices, particularly in light of favorable regulatory developments in the United States.

(Source: Coingecko)

In the last few trading days, ETH trading volumes have surged as both investors and institutions flock to the second most valuable coin. Should Ethereum surpass $3,000, additional traders may acquire it, resulting in increased trading volume and positively impacting other assets, including Solana, in the layer-1 smart contracts sector.

Despite nearing all-time highs, Bitcoin is lagging, with more than $53.2 billion of Bitcoin traded over the past 24 hours. Currently, upward momentum appears to be diminishing. However, if BTC surpasses $123,000 and hits new all-time records, trading volume, chiefly from centralized exchanges, could rise, potentially overtaking ETH for the second position.

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What’s Fueling SOL Crypto Trading Volume?

The rise in trading volume for Solana corresponds with its robust price performance in the recent trading days.

At the current pace, SOL has surpassed the psychological barrier of $200, attracting buyers.

In July 2025, SOL has increased by 46%, with traders feeling bullish, anticipating that the coin may revisit its all-time high of $295. From a technical standpoint, buyers appear to dominate, positioning SOL as potentially the next cryptocurrency to surge.

As long as prices stay above $195 or the Q2 2025 highs, trading volumes and prices are likely to rise. This could subsequently elevate SOL to the highs seen in January 2025.

This increase aligns with the revival of Solana meme coins. In the past 24 hours, the total market cap of Solana meme coins has experienced a nearly 7% rise, exceeding $15.8 billion.

BONK holds the title of the most valuable within this category, rising 24% over the past week. Despite millions of tokens being unlocked, TRUMP remains stable, gaining almost 20% in the past week and staying above the critical base level level of $10.

As momentum builds within the Solana meme token realm, SOL prices and trading volumes are also expected to continue their upward trajectory. During the previous optimistic phase in H2 2024 and early Q1 2025, SOL prices surged, and trading volume skyrocketed as the meme crypto token frenzy attracted traders to the platform.

Interest in Solana is also fueled by increased institutional adoption. As investors and institutions build Ethereum reserves, there is optimism that the eventual approval of a spot Solana ETF might prompt public companies to embrace Solana. On Polymarket, bettors assign a 99% probability of the SEC sanctioning a spot Solana ETF by the close of 2025.

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The piece Solana Becomes 4th Most Traded Crypto – Is It Aiming for Ethereum & BTC’s Top Spots? first appeared on 99Bitcoins.