Standard Chartered predicts Solana to reach $500 by 2029

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Standard Chartered: Solana may reach $500

Key Takeaways

-Short-Term Underperformance: Solana is expected to lag behind Ethereum through 2027 due to declining memecoin activity and a lack of diversified usage.-Long-Term Target of $500: Standard Chartered projects SOL will reach $275 by the end of 2025 and $500 by 2029.-Memecoin Saturation: Solana’s dominance in memecoin trading is not seen as a sustainable growth engine.-Future Use Cases Developing: Sectors like DePIN, social media, and fintech may drive growth in 2–3 years.

Solana’s Near-Term Challenges

According to Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, Solana’s current growth is too dependent on high-frequency memecoin trading. While this has demonstrated the blockchain’s capacity for low-cost, high-throughput performance, Kendrick warns that “declining usage and trading ‘cheap’ are not a good mix.”

Solana price chart. Source: CoinMarketCap

He argues that the memecoin sector has likely peaked, limiting near-term GDP (application revenue) potential for Solana. The blockchain’s GDP-based valuation model shows SOL trading at a discount compared to its peers, such as BNB, which benefits from its tight integration with Binance.

Waiting for Broader Use Cases

Despite its current limitations, Kendrick acknowledges Solana’s technical strengths and sees future growth opportunities in emerging sectors like decentralized physical infrastructure networks (DePIN), social apps, and decentralized finance. However, he notes these applications will take time — possibly until 2027 — to scale and drive meaningful blockchain revenue.

Until then, SOL may continue to “trade cheap relative to its GDP,” Kendrick said, noting that investors should prepare for a couple of years of subdued network activity and performance.

Price and Ratio Forecasts

Kendrick predicts the ETH-SOL ratio will increase from 15 to 17 by the end of 2027, further reinforcing Ethereum’s expected outperformance in the medium term. However, his price targets for SOL remain bullish in the long term:

-$275 by end-2025-$500 by end-2029

In comparison, he lowered Ethereum’s 2025 target to $4,000, while forecasting Bitcoin at $200,000, BNB at $2,775, and XRP at $12.50 by 2028. Kendrick also expects the stablecoin market to reach $2 trillion by 2028.

Recently we wrote that Bitcoin price movement has illustrated key developments following the sharp pullback from its all-time high at $112,000.

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