Solana's comeback against Ethereum? The rise of stablecoins assists in the price surge to 500 dollars by 2025.

On September 25, 2025, Solana (SOL) continued its strong performance, surpassing Ethereum in the past few weeks and pulling back to $211 after nearing its historical high, with a weekly fall of over 10%. Institutions like Pantera Capital have made large purchases of SOL, pushing the price floor higher, with TVL increasing by 0.30% month-over-month to $11 billion, while Ethereum's TVL fell by over 7%. The trading volume of meme coins dropped from 60% at the end of 2024 to 30%, while the proportion of stablecoin trading surged to 58%. The ecological market capitalization reached $12 billion, indicating that Solana is maturing. Analysts predict that SOL will surge to $400–500 in 2025, but it needs to hold the support at $200–210.

###Solana Strong Rebound Institutional Accumulation Ignites Price Expectations

Solana has recently shown a strong upward trend, approaching the 2021 high of 293.31 USD, currently trading at 211 USD, with a 3% drop in the last 24 hours and over a 10% drop for the week. Despite the pullback, institutional enthusiasm remains strong, with Wall Street giants like Pantera Capital purchasing billions of SOL through two major Solana treasury acquisitions, driving up the average price and establishing a new price floor. Data from DeFiLlama shows that Solana's TVL increased by 0.30% to 11 billion USD, while Ethereum's TVL dropped by over 7% during the same period, highlighting Solana's competitive advantage in the DeFi space.

On-chain activity is equally impressive, with Solana's average daily DEX and on-chain trading volume exceeding $5 billion, demonstrating greater vitality compared to Ethereum. Analyst @SolanaInsider from platform X stated: "Institutional funds and on-chain data support Solana's superiority over Ethereum, and the anticipation of ETF approvals further fuels bullish sentiment." The probability of Solana's spot ETF approval in October is high, which may attract more institutional funds.

###The meme coin craze retreats, Pump.fun's influence declines

By the end of 2024 to the beginning of 2025, meme coins accounted for over 60% of the trading volume on Solana DEX, with the Pump.fun platform driving Solana's trading volume nearly double that of Ethereum. However, co-founder Anatoly Yakovenko had previously warned that this model was unsustainable, advocating for long-term builders rather than speculation, which sparked controversy within the community. His judgment proved accurate, as the launch of the Trump and Melania meme coins saw frequent rug pulls, and the subsequent collapse of LIBRA and Trump coins severely impacted retail investor confidence, causing meme coin trading volume to fall to 30%, the lowest since February 2024.

Blockworks data shows that the daily active users of Solana DEX dropped from 4.8 million in January to below 800,000 in September, reflecting a retreat in speculative enthusiasm. Although the PUMP token of Pump.fun rose 2.5% weekly to $0.005885, it fell 26% monthly, indicating a weakening of the short-term momentum driven by meme coins.

###The Rise of Stablecoin Trading: Solana Ecosystem Matures

Stablecoin trading has replaced meme coins as the new momentum for Solana. According to Blockworks data, the exchange of SOL with stablecoins accounts for 58% of DEX trading volume, the highest since November 2023, while stablecoin-to-stablecoin trading has risen to 4%. The market capitalization of the Solana stablecoin ecosystem has increased from $5 billion at the beginning of the year to $12 billion, reflecting the network's maturation from speculation to hedging, payment, and institutional strategy applications.

In post X, @CryptoAnalystX pointed out: "The surge in Solana stablecoin volume indicates an increase in ecosystem health and institutional interest, and ETF approval will further catalyze this." The growth of stablecoins, along with the deepening integration with DeFi protocols like Jito and Raydium, attracts Wall Street's attention and lays a long-term bullish foundation for Solana's price.

###Solana Price Prediction: $400–$500 Target is Achievable

SOL price has recently come under pressure, falling over 10% this week and dropping another 3% today, approaching the critical support zone of 200–210 dollars. Charts show that SOL previously broke through a descending wedge, initiating an upward trend, and is currently trapped in an ascending channel, testing the support line at 213 dollars. If it holds above 200–210 dollars, momentum can be sustained, with the next target at 295 dollars, and a breakthrough could see it reach 400 dollars. If it breaks the support, it may drop to lower levels.

RSI 44 has cooled but is not oversold, MACD shows slight bearish signals, but institutional heavy positions and market rebounds support bullish prospects. Investing Haven predicts an average price of $500 in 2025, with a range of $200–$1000, while Coinpedia sees a high of $600. If the ETF approval goes through in October, it may push SOL to reclaim its $293.31 ATH, with a year-end sprint to $400–$500.

###Conclusion

Solana, driven by institutional accumulation, TVL growth, and the rise of stablecoin trading, has outperformed Ethereum and laid a solid foundation for a sprint to $400–$500 in 2025. The retreat of the meme coin craze and the weakening momentum of Pump.fun underscore Solana's ecosystem's transition from speculation to maturity, with ETF approvals and deeper DeFi developments further catalyzing price discovery. In Q4 2025, investors need to pay attention to the $200–$210 support and regulatory progress to seize pullback buying opportunities.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.