Scaramucci backs Solana to surpass Ethereum in market cap – Here’s why

• Anthony Scaramucci expects Solana to flip Ethereum, a view that is opposed by analysts from Standard Chartered
• The SOL/ETH ratio showed that Solana might rebound and outperform Ethereum in the coming weeks

SkyBridge Capital Founder Anthony Scaramucci claimed that Solana [SOL] will flip Ethereum [ETH] in terms of market cap. Speaking to an audience at the DigiAssets 2025 conference, he affirmed,

“I think SOL will turn ETH around.”

He clarified his view soon thereafter, saying,

“Not that I have a negative opinion, I just understand the Solana story a little bit better.”

The founder and managing partner of the global investment firm also explained that he didn’t really get on board with Ethereum.

“We have probably 40% of our clients’ money across digital assets. We have about $300 million in what we call a coin fund, and that’s probably things like Solana, Avalanche is in there, Polkadot, lots of Bitcoin.”

At the time of writing, Ethereum had a market cap of $303.8 billion, while Solana was at $77.4 billion. Even if ETH remains stationary, Solana would have to do a 3.92x, or reach a price of $572.3, to flip the former.

Banking group Standard Chartered predicted a price of $500 for Solana by 2029. At that time, its analysts expect ETH to trade at $7,500.

Solana as the ‘Ethereum Killer’

To confirm whether Solana could actually ‘kill’ Ethereum and become a new force in the crypto sphere, AMBCrypto took a look at the altcoin’s on-chain metrics.

Source: Glassnode

Daily active addresses measure the unique addresses active in the network. On the 18th of June, Solana recorded 5,290,543 unique addresses for the day. It topped at 10,308,559 on the 20th of January.

Source: Glassnode

In comparison, Ethereum saw an active address count of 370,238 on the 18th of June, topping out at 588,817 in 2025 on the 25th of January.

Source: DeFiLlama

Solana had much higher traffic, but Ethereum continued to dominate the DeFi landscape. Data showed that its network had 55.8% of the total value locked (TVL) in the crypto ecosystem. This TVL measured $62.54 billion.

Source: SOL/ETH on TradingView

The SOL/ETH chart has traded within a range since early 2025. Over the past two months, Solana has dramatically underperformed ETH, losing 32% in this window.

It was approaching the range low, which suggested a SOL/ETH reversal.

Traders can look for opportunities to trade Solana and Solana-based tokens once the SOL/ETH range low retest occurs. Till then, expect Solana to continue to underperform relative to the leading altcoin.