Experts from Standard Chartered Bank have expressed the opinion that the price of the cryptocurrency Solana could rise to $275 by the end of this year and reach $500 by 2029. However, in the near term, Solana may lag behind Ethereum due to its reliance on meme coin trading.
This is reported by Finway
According to a report, this information was disclosed by the head of the digital asset research department at Standard Chartered, Jeffrey Kendrick. He noted that “the current use cases for Solana are largely focused on trading. And it is in trading that Solana dominates the meme coin segment. This is due to the network’s ability to process a large number of transactions simultaneously with low fees for users.”
Kendrick also added that the dependence on meme coins does not ensure the long-term development of the platform. Consequently, activity in this segment may decline. According to Standard Chartered’s estimates, Solana is trading “cheaply” compared to its “blockchain GDP,” which includes the total revenue of applications and protocols on the network.
In the long term, Solana has the potential for use in fast and inexpensive transactions, particularly in financial applications, social networks, and decentralized infrastructure.
It is worth noting that earlier, experts from Standard Chartered stated that Bitcoin would update its all-time high at $120,000 in the second quarter of 2025.