Solana, a prominent blockchain platform, has garnered considerable attention for its high throughput and low transaction costs. As the cryptocurrency market evolves, analysts are closely scrutinizing its potential trajectory. A recent assessment from Standard Chartered, a global banking giant, offers a detailed outlook on Solana’s future value, alongside an insightful analysis of its current market dynamics and long-term prospects.
Standard Chartered’s Price Forecasts
According to Jeffrey Kendrick, head of digital assets research at Standard Chartered, Solana’s price could see significant appreciation in the coming years. Experts at the bank project that Solana may reach $275 by the end of the current year. Looking further ahead, the forecast suggests a potential climb to $500 by 2029.
Short-Term Challenges and Long-Term Potential
Despite these optimistic long-term projections, Standard Chartered identifies a key challenge for Solana in the immediate future: its heavy reliance on memecoin trading. While Solana’s capacity for processing a high volume of transactions with minimal fees makes it ideal for memecoin activity, this segment does not inherently support the platform’s sustained development.
Kendrick noted that although memecoins currently drive a significant portion of Solana’s trading volume, this focus may hinder its short-term performance compared to Ethereum, which boasts a more diverse ecosystem. However, Standard Chartered’s analysis indicates that Solana is currently undervalued when compared to its “blockchain GDP”—a metric reflecting the total revenue generated by applications and protocols on its network.
In the long run, Solana’s underlying technological strengths position it for broader adoption. Its capabilities for fast and cost-effective transactions are expected to find increasing utility across various sectors, including financial applications, social media platforms, and decentralized infrastructure, fostering a more robust and diversified ecosystem beyond speculative trading.
Broader Market Outlook
This positive long-term view for Solana aligns with other optimistic forecasts from Standard Chartered. Previously, the bank’s experts predicted that Bitcoin would achieve a new historical peak, reaching $120,000 by the second quarter of 2025, underscoring their belief in the continued growth of the broader digital asset market.
Blockchain developer and writer, Daniel combines hands-on coding experience with accessible storytelling. He holds multiple blockchain certifications and authors technical explainers, protocol deep-dives, and developer tutorials to help readers navigate the intersection of code and finance.