Solana Gaining Ground on Ethereum: Top VC Predicts Major Shift in 2025

Solana (SOL) is rapidly closing the gap with Ethereum (ETH) in terms of developer interest and startup activity, according to recent insights from Qiao Wang — a respected crypto analyst and co-founder of Messari, currently with Alliance DAO.

**Founder Momentum Shifting Towards Solana**

Between 2022 and 2025, Solana has seen consistent growth in the number of projects applying for funding. As of early 2025, applications built on Solana are now **neck and neck with Ethereum**, marking a potential turning point in the battle of blockchain dominance.

Qiao Wang highlights that **"momentum favors Solana"**, as shown in internal charts from Alliance DAO. Notably, in the first half of 2025, **Ethereum's share of builder applications dropped below 50%** — the first time in its history.

**Solana Rising Post-FTX Collapse**

Despite the past FTX association, Solana has successfully rebranded and rebuilt its reputation. Since late 2022, it has steadily gained traction, pulling in a growing community of developers and early-stage startups looking for fast, scalable solutions.

**Surprise Players in the Top 10**

Interestingly, **Polkadot (DOT)** remains in the top 10 despite facing heavy criticism. Other ecosystems that continue to attract new projects include **Filecoin (FIL), Cosmos (ATOM), BNB Smart Chain (BSC), Bitcoin (BTC), Avalanche (AVAX), Sui (SUI), and Aptos (APT).**

**Ethereum Still Leads in DeFi TVL — For Now**

While Solana is gaining momentum, Ethereum still holds the lead in **Total Value Locked (TVL)** across DeFi protocols. According to **DefiLlama**, Ethereum secures over **51.2% of global DeFi TVL**, accounting for more than **\$52 billion out of \$102 billion** in smart contract assets.

Solana, on the other hand, holds a **7.77% share**, but the growing interest from founders suggests a possible shift in the coming months.$SOL