Standard Chartered: Solana is expected to rise to $500 by 2029, but may underperform Ethereum in the short term

ChainCatcher news, according to The Block, Standard Chartered has initiated coverage on Solana, predicting that the coin will underperform Ethereum in the next 2-3 years due to its high reliance on memecoin trading. Digital asset research head Geoffrey Kendrick stated that although the current trading price of SOL is around $175, it is expected to rise to $275 by the end of 2025 and reach $500 by 2029.

He pointed out that Solana has performed well in memecoin trading, but this sector's growth has peaked, and on-chain activity (i.e., "blockchain GDP") may decline in the short term. Future financial applications, social platforms, and new tracks like DePIN may take several years to scale, and Solana's market performance may continue to be sluggish.