🚀 Solana's $500 Target by 2029: Standard Chartered

Standard Chartered Bank has begun covering Solana, foreseeing it will underperform Ethereum over the next two to three years due to its heavy focus on memecoin trading. However, it anticipates SOL will rise from approximately $175 to $500 by 2029. Solana's dominance in memecoin trading is attributed to its ability to handle numerous transactions efficiently with low fees, as noted by Geoffrey Kendrick, the bank's head of digital assets research. Despite its infrastructure being tested, this is not seen as a sustainable growth strategy. Solana is currently considered undervalued compared to its potential growth, with its current economy reflected in the applications built on it. Future activity in areas such as financial apps and decentralized infrastructure is likely to take several years to mature, hindering near-term growth. Kendrick predicts an ETH-SOL ratio increase to 17 by 2027, with SOL reaching $275 by end-2025 and $500 by 2029. Other forecasts include Bitcoin reaching $200,000 by 2025 and $500,000 by 2028, and significant growth in stablecoin adoption.