Solana In Spotlight As Q3 Comes Into View, Can SOL Price Break ATH Again?

Solana crypto, the sixth-ranked cryptocurrency asset by market capitalization, has demonstrated significant dominance over other assets in terms of daily transaction count.

Solana’s daily transaction volume has flipped that of Ethereum, which is ranked higher in the crypto space.

Solana Crypto Tops Ethereum, Others in Daily Transactions

As the second quarter of the financial market draws to a close, Solana’s performance has been striking, with the potential to translate into price gains.

According to data from Artemis shared by The Solana Post, the combined transaction totals of Ethereum, Avalanche, Sui, Base, Binance Coin, among others, do not match that of Solana.

Notably, Solana crypto is renowned for its high-performance blockchain, which can process over 2,600 transactions per second.

It is understandable, therefore, that the blockchain outperforms Ethereum in terms of daily transactions.

Ethereum manages between 15 and 30 transactions per second. This edge in transaction speed is one crucial reason users prefer Solana crypto in addition to its low fees.

Beyond the speed on Solana, the high transaction volume suggests strong network activity, user engagement, and widespread application usage on the Solana blockchain.

This includes the adoption in decentralized finance (DeFi) apps, NFTs, games, and more.

The development highlights Solana’s leadership position in terms of scalability and adoption within the cryptocurrency ecosystem.

In terms of plain transaction processing, Solana crypto remains unbeatable by many altcoins as it remains a high-throughput blockchain.

Key Catalysts: Solana ETF Buzz, TradFi Signals, and Q3 Momentum

With Solana crypto riding on a high transaction count into the third quarter (Q3), expectations are high for the asset.

In a post on X, a professional trader with the username @barneytheboi remains optimistic that SOL will rebound massively in Q3.

Barneytheboi’s optimism rests on several factors that he believes could trigger a bullish market recovery for Solana.

The user highlights the possible approval of Solana exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC).

Over five different asset managers have their S-1 applications with the U.S. SEC, including Fidelity Investments and 21Shares.

In a recent Polymarket prediction, crypto traders give SOL ETF a 76% chance of approval by the U.S. SEC.

However, Bloomberg predicted a 90% chance of approval in 2025. The increasing odds of approval reflect the growing confidence among investors in the cryptocurrency space.

This could influence their trading pattern and the amount of funding they commit to the Solana crypto going forward.

Other bullish trends on the side of Solana as it heads into Q3, as highlighted by @barneytheboi, are the Pump.fun Token Generation Event (TGE).

Additionally, there is also the increasing volume of stocks in the traditional market.

The post suggests that with stocks nearing an all-time high (ATH), it signals strong investor confidence that could spill over into crypto assets.

Can Solana Price Hit a New ATH In Q3?

Meanwhile, history favors Solana price as the asset has maintained a near all-green performance in the Q3.

Cryptorank data shows the only exception was in 2022, when it closed in the red with a slight decline of 1.20%.

Interestingly, July is also a bullish month for Solana price with an average growth rate of 30.3%.

Since 2020, Solana crypto has maintained a streak of closing in the green, and the asset looks likely to repeat this performance in 2025.

If SOL sees a 30.3% price growth, this could push its market valuation to over $190, but still below the $200 level.

It would not be enough to see Solana price post a new ATH to flip its current record of $294.33 set in January 2025.

To put it another way, the asset needs to grow by over 50% from its current price of $146.48. It remains to be seen if Solana’s price can rally to investors’ expectations.

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