Alliance DAO's Qiao Wang, seasoned cryptocurrency analyst and co-founder of Messari, shared the statistics of founders applying for funding to his fund in 2022-2025. Ethereum ETHUSD is losing its dominance for 30 months in a row — and the community is surprised by the names of some other top popular blockchains. "Momentum favors Solana": Crucial metric highlighted by Qiao Wang When it comes to the number of projects asking for funding in Alliance DAO, Solana-based and Ethereum-based protocols are competing nose-to-nose in 2025.
At the same time, Solana's SOLUSD metric is getting traction and Ethereum ETHUSD might soon lose its supremacy. qw @QwQiao latest data of startups applying to alliance solana and ethereum r now neck n neck. but momentum favors solana and it looks like soon solana will become the largest ecosystem of founders for the first time pic.twitter.com/2ina3oJz9J Momentum favors Solana SOLUSD, Qiao Wang says, and the network might very soon become the largest chain for new founders.
As per the chart shared by the analyst, in H1, 2025, Ethereum's ETHUSD share in the metric dropped below 50% for the first time in history. Solana SOLUSD has been increasing its share since late 2022. Post-FTX collapse, Solana SOLUSD managed to get rid of the associations with SBF-related products.
Targeted by massive criticism, Polkadot DOTUSD surprisingly remains in the top 10 by the number of projects applying for funding. Filecoin FILUSD, Cosmos (ATOM), BNB Smart Chain (BSC), Bitcoin BTCUSD, Avalanche AVAXUSD, Sui (SUI) and Aptos (APT) are also in the elite club. Ethereum ETHUSD still controls over half of DeFi TVL, Solana SOLUSD sits at 7.77% At the same time, for some metrics, Ethereum ETHUSD remains the dominant blockchain amid all programmable networks.
For instance, as per the DefiLlama tracker, Ethereum's ETHUSD protocols are responsible for over 51.2% of global DeFi TVL. Out of $102 billion in equivalent, the oldest smart contracts network still covers over $52 billion. Solana's TVL is sitting at mediocre 7.77%.
Meanwhile, by the number of active addresses, Ethereum ETHUSD is lagging behind Solana SOLUSD, Tron TRXUSD, and is ready to slip below BNB Smart Chain (BSC).
