What is Eclipse (ES) Crypto Coin? The SVM-Based Ethereum Layer 2 Explained

Eclipse (ES) is not another altcoin chasing hype. It’s a Layer 2 blockchain built to solve Ethereum’s biggest problem: slow, expensive transactions - but it doesn’t use the same tools everyone else does. Instead of copying the Ethereum Virtual Machine (EVM), Eclipse uses the Solana Virtual Machine (SVM). That’s unusual. And it’s intentional.

What Makes Eclipse Different?

But speed alone doesn’t make a blockchain. Security does. That’s where Eclipse’s design gets clever. While it executes transactions using SVM, it settles them on Ethereum. That means every transaction is backed by Ethereum’s $450 billion market cap and its battle-tested security. It doesn’t try to replace Ethereum. It enhances it.

And it doesn’t stop there. Eclipse posts transaction data to Celestia, a dedicated data availability layer. This keeps costs low and ensures data can’t be hidden or altered. The result? A system that combines Solana’s performance, Ethereum’s security, and Celestia’s data reliability. The team calls it a "Giga Scale Virtual Machine." It’s not marketing fluff - it’s architecture.

How Does ES, the Token, Work?

There are 1 billion ES tokens in total. As of July 2025, about 132.64 million are in circulation. The rest are locked in private sales, team allocations, and ecosystem development funds. The token’s price hovered around $0.09 in mid-2025, with a market cap of just over $11 million. That’s small compared to top L2 tokens like ARB or OP, which trade in the billions. But Eclipse is new. And it’s growing.

Trading volume is healthy - over $16 million in 24 hours - which suggests real usage. There are over 1.3 million active wallets, according to SwissBorg. And the token has 1,370 holders. That’s not mass adoption yet, but it’s more than just speculation.

Who Built Eclipse?

The project raised $65 million across funding rounds, including NFT sales and venture capital. That’s serious money for a Layer 2 launched in early 2025. Most L2s take years to raise that much. Eclipse did it in months. That tells you investors see potential - even if the market isn’t fully convinced yet.

Who Is Eclipse For?

But if you’re a Solana developer? Or if you’re building high-frequency DeFi apps, gaming platforms, or trading bots that need fast, cheap transactions? Eclipse is a dream. Users on Reddit report doing 50 swaps in under two seconds with near-zero fees. That’s the kind of experience Ethereum mainnet can’t deliver.

It’s also ideal for users who want to move between SOL and ETH ecosystems without switching chains. Eclipse lets you hold both, trade between them, and earn yield on both - all in one place. That’s why they call it the "Home of SOL-ETH DeFi." It’s not just a Layer 2. It’s a bridge.

What Are the Downsides?

First, developer adoption. EVM tooling is mature. You’ve got Hardhat, Foundry, Remix, dozens of tutorials, and a million Stack Overflow answers. SVM tooling? Still young. Eclipse’s documentation scores 3.8/5 on ReadTheDocs - decent, but not great. And there’s no easy way to convert Solidity code to Rust. You need to learn a new language.

Second, wallet support. MetaMask doesn’t natively support Eclipse. You have to manually add the network, configure custom RPCs, and import ES tokens. That’s a barrier for non-technical users. Wallets like Phantom and Solflare work better, but they’re not as common on Ethereum.

Third, competition. Arbitrum, Optimism, and Polygon aren’t standing still. They’re all building faster L2s. Eclipse’s 9,000 TPS is impressive, but if Arbitrum hits 8,000 TPS next year with full EVM compatibility, Eclipse’s edge shrinks fast. And with over $35 billion locked in L2s overall, Eclipse’s $11 million market cap is tiny.

What’s Next for Eclipse?

By Q4 2025, they aim to integrate with Ledger and Trezor hardware wallets. That’s critical for security-conscious users.

In Q1 2026, they plan to upgrade ES to a governance token. That means holders could vote on protocol changes - a sign of decentralization. If that happens, and if adoption grows, ES could become more than just a gas token. It could become a stake in the network’s future.

Analysts are split. Delphi Digital gives Eclipse a 3.5/5 rating - praising the tech but warning about slow ecosystem growth. Bernstein thinks the price might hit $0.10-$0.12 by year-end. Delphi sees $0.15-$0.25. The difference? Adoption. If 100 new DeFi apps launch on Eclipse by November, the price could jump. If not, it might stall.

Should You Care About Eclipse?

If you’re a developer, trader, or DeFi power user tired of paying $20 in gas to swap tokens? Then yes. Eclipse offers something no other Ethereum L2 does: Solana-level speed on Ethereum’s security. It’s not the only solution. But it’s the only one that bridges two worlds.

It’s risky. It’s early. It’s unproven at scale. But it’s also one of the few Layer 2s that isn’t just iterating - it’s reinventing. If it works, it could redefine what’s possible on Ethereum. If it fails, it’ll be a footnote in crypto history.

Right now, it’s a bet on speed. On innovation. On the idea that Ethereum doesn’t need to be fixed - it needs a better engine. And Eclipse is trying to build it.