Exponential, Distilled

Exponential, Distilled

Thematic Research

Solana’s Breakout

SOL/ETH ratio points to 0.08 target

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Sep 23, 2025
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SOL is breaking out as flows rotate from ETH.

Adoption, fees, and TVL are climbing, while SOL DATCOs trade at >1.3 NAV premiums versus ETH’s discounts.

With $100M flowing into staking ETFs in just three weeks, the setup points to a potential run toward $350.

Source: @BobLoukas

Key Report Insights:

  1. Adoption Lead: SOL outpaces ETH in addresses, fees, and TVL

  2. Premium Signal: SOL DATCOs >1.3 NAV vs ETH <1.0

  3. ETF Flows: $100M+ into SOL staking ETFs in 3 weeks

  4. Breakout Setup: Range cleared, $350 target in play

  5. Risk Overhang: Bot volumes, Pump.fun fees, outage history


1. Crypto Technicals:

A. Relative Strength vs. ETH:

SOL has steadily gained on ETH since 2024.

While ETH’s Pectra upgrade and the Stablecoin Act briefly shifted momentum, the trend is snapping back.

SOL is rebounding toward its long-term trendline, with 0.08 SOL/ETH—or about $350 at ETH’s current ~$4,480—now in play.

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Analyst/Writer at Crypto, Distilled. Delivering crypto market insights through a quantitative lens.
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