Solana (SOL) has recently been surpassing EVM chains in trading volume, leading to speculation about it surpassing Ethereum (ETH) as the leading blockchain. However, a DeFi researcher, @jpn_memelord, conducted a study and found that Solana's trading volume is primarily driven by low-liquidity pools and meme coins launched on Pump.Fun. When looking at sustainable liquidity pools with large stable volume, Solana is far from flipping all EVM chains or even Ethereum. Ethereum continues to dominate with the most established and high-volume pools. Solana did achieve a new on-chain trading activity record due to the resurgence of its meme coin launcher Pump.fun. However, the study suggests that Solana still has a long way to go to compete with Ethereum in terms of trading volume and sustainability.



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