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Scaramucci Predicts Solana Will Flip Ethereum — Can SOL Really Overtake ETH in Market Cap?

Mary Jane Avatar
Mary Jane
  • SkyBridge Capital’s Anthony Scaramucci predicts Solana could surpass Ethereum in market cap, but current data shows significant challenges remain.
  • While Solana boasts higher active addresses, Ethereum still dominates in DeFi TVL and the SOL/ETH pair continues to underperform.

Anthony Scaramucci, founder and managing partner of SkyBridge Capital, is bullish on Solana’s [SOL] long-term prospects—so much so that he believes it could surpass Ethereum [ETH] in market capitalization. Speaking at the recent DigiAssets 2025 conference, Scaramucci stated, “I think SOL will turn ETH around.”

He later clarified that this was not a knock on Ethereum, but rather a reflection of his deeper understanding of Solana’s growth story. SkyBridge currently manages around $300 million in its coin fund, which includes significant exposure to Solana, along with Avalanche, Polkadot, and Bitcoin.

However, is such a flippening realistic? Currently, Ethereum commands a market cap of $303.8 billion, while Solana trails at $77.4 billion. For SOL to overtake ETH, it would need to rally nearly 4x to around $572.30—assuming ETH’s market cap remains stagnant.

Also read: PEPE Whales Exit With $7M Losses—Is Confidence in the Memecoin Fading?

Notably, Standard Chartered’s latest projections put Solana’s price target at $500 by 2029, while forecasting Ethereum at $7,500—suggesting ETH would retain its lead.

Can Solana Outperform Ethereum?

A dive into on-chain data reveals mixed signals. On the activity front, Solana is thriving. It recently recorded 5.29 million daily active addresses on June 18, peaking at over 10.3 million in January. In contrast, Ethereum logged just 370,238 daily active addresses on the same day.

Yet when it comes to total value locked (TVL) in DeFi—a critical metric for ecosystem strength—Ethereum remains dominant with a 55.8% market share, totaling $62.54 billion. Solana, despite its high traffic, has yet to make a significant dent here.

Technically, the SOL/ETH pair has been range-bound through 2025, with Solana underperforming Ethereum by 32% over the past two months. It is now nearing the lower boundary of this range, suggesting a potential reversal. Traders may watch for entry points on a confirmed bounce.

For now, while Scaramucci’s vision reflects confidence in Solana’s potential, significant hurdles remain before SOL can realistically challenge Ethereum’s market cap dominance.