Solana May Lag Behind Ethereum, Says Standard Chartered

• Solana’s memecoin boom may have peaked, slowing near-term growth.
• Analyst sees Solana shifting focus to sectors like DePIN and social apps.
• Long-term target for SOL is $500 by 2029.

Standard Chartered has begun official coverage of Solana (SOL), but its outlook isn’t entirely bullish—at least in the short term. According to Geoffrey Kendrick, Head of FX and Digital Assets Research at the bank, Solana’s reliance on memecoin trading has been a major driver of its recent success. The blockchain ’s low fees and lightning-fast transaction speeds made it the go-to network for meme-based tokens. However, Kendrick believes this trend has likely peaked.

While Solana’s infrastructure makes it ideal for speculative trading, the bank expects growth to slow over the next two to three years. With fewer new memecoins gaining traction, user activity could decline before other use cases start to mature.

New Sectors Offer Long-Term Promise

Despite the cautious short-term outlook, Standard Chartered remains optimistic about Solana’s future potential. Kendrick pointed out several emerging areas where Solana could shine, including decentralized physical infrastructure networks (DePIN), finance, and social applications.

These sectors are still in the early stages of development but could become major drivers of activity on the network over time. If these sectors scale as expected, they could replace the fading memecoin hype and lead to renewed growth for the Solana ecosystem.

Price Predictions Reflect Confidence in Long-Term Growth

Even with the short-term slowdown, Kendrick maintains a bullish long-term view. He forecasts that Solana could reach $275 by the end of 2025 and climb to $500 by 2029. These targets reflect a belief that Solana’s ecosystem will successfully transition to more sustainable and utility-focused use cases.

Investors may need to brace for a dip in momentum, but Standard Chartered’s outlook suggests that the best days for Solana might still be ahead—just not driven by memes

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