Standard Chartered has released a detailed forecast on the future price trajectory of Solana (SOL), predicting that the popular blockchain token could reach $500 by 2029. This optimistic long-term outlook comes alongside a more cautious near-term view, as the bank expects Solana to underperform compared to Ethereum over the next two to three years. According to Jeffrey Kendrick, Standard Chartered’s global head of digital asset research, Solana’s price may climb to approximately $275 by the end of 2025, before pushing further towards $500 by 2029. However, he warned that in the short to medium term, Solana will likely lag Ethereum in terms of market momentum and value appreciation. Kendrick highlighted a key reason for this slower near-term growth, Solana’s current dominance in memecoin trading. While this niche has allowed the network to showcase its high throughput and low transaction fees, Kendrick notes that relying heavily on memecoin activity is both a strength and a weakness. “ Memecoin trading has stress-tested Solana’s infrastructure, but it is not a sustainable driver for growth,” he stated. According to the pundit, market participants appear to have discounted Solana’s future earnings potential based on this volatile and possibly waning sector. The analyst further introduced an insightful metric by comparing a blockchain’s market capitalization to its “GDP,” defined as the total revenue generated by applications and protocols operating on the network. Solana is undervalued by this measure, suggesting untapped potential beneath the surface. Looking forward, Kendrick anticipates that Solana’s true growth will be unlocked as it expands into new sectors requiring fast, low-cost transactions. Areas such as decentralized financial services, social networking platforms, and decentralized physical infrastructure networks (DePIN) could become key growth drivers. However, he cautioned that these sectors are still maturing and could take two to three years to develop fully, during which time ecosystem activity and Solana’s price momentum may slow down. Additionally, Standard Chartered projects that the ETH-to-SOL price ratio will increase from around 14 to 17 by the end of 2027, reflecting Ethereum’s expected near-term outperformance before the gap potentially narrows later on. Despite the promising long-term outlook, recent community debates, such as a rejected proposal to adjust Solana’s inflation rate, indicate ongoing challenges in boosting token value. Elsewhere, technical analysts like Ali Martinez have also noted bullish patterns, predicting on Monday a potential breakout for Solana beyond current levels, with some even speculating targets above $3,000 if a key inverse “cup and handle” pattern confirms. At press time, Solana was trading around $156, reflecting a modest 2.08% surge in the past 24 hours.
