Solana Could Hit $500 by 2029, Says Standard Chartered
Date: 2025-05-28 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Standard Chartered analyst Jeffrey Kendrick says Solana (SOL) has the potential to reach $500 by 2029. While he believes it will underperform Ethereum in the next few years, the long-term outlook remains positive.
Kendrick predicts that the ratio between Ethereum and Solana will increase from the current 15 to 17 by 2027, and then begin to decline. This metric reflects the relative value and market expectations of the two major blockchains.
Solana is currently heavily used for trading, especially in the memecoin segment, where it is demonstrating leadership. According to Kendrick, this is due to the high network throughput and low transaction costs, making it especially attractive to traders.
However, he emphasizes that dominance in the memecoin space is unlikely to be a sustainable basis for growth. While activity in this category has strained Solana’s infrastructure and tested its strength, it does not guarantee stable long-term development.
In addition, Standard Chartered compared Solana’s market cap to what it calls “blockchain GDP,” the total income generated by applications and protocols on the platform. According to Kendrick, Solana is currently trading “cheaply” on this indicator, while BNB, a competing layer-one blockchain, looks “overvalued” due to its close ties to the centralized exchange Binance.
Kendrick also noted that Solana is especially effective in areas where speed and minimal fees are critical. However, it will take at least another two to three years for these areas to gain large-scale development. He explains this by the fact that many projects that began development in 2021 as part of the DeFi boom are only now reaching maturity.
Thus, despite temporary difficulties and the need for further infrastructure development, Standard Chartered analysts believe that Solana has significant potential and can show significant growth over the next four years.
