Analysts at Standard Chartered predict that Solana’s market value could reach $500 by 2029. However, they expect the cryptocurrency to "lag behind Ethereum" over the next two to three years, according to The Block.
Jeffrey Kendrick, Head of Digital Asset Research at Standard Chartered, stated that the price of SOL could reach $275 by the end of 2025 and $500 by 2029. He also forecasts the ETH-to-SOL ratio will increase from 14 to 17 by the end of 2027.
"The dominance of memecoins in Solana transactions is both a strength and a weakness. The network has proven its ability to handle high volumes of transactions at low cost, but new use cases are needed for sustainable growth," Kendrick noted.
He compared the blockchain’s market capitalization to its "GDP" — the total revenue generated by applications and protocols on the network. By this metric, Solana is currently undervalued.
Kendrick identified financial services, social media, and DePIN as promising areas for Solana, although their development may take two to three years. Until then, activity in the ecosystem could decline.
"A drop in usage and a low ‘GDP’ valuation is a bad combination for short-term performance. But by 2029, Solana will have the potential to shine," Kendrick concluded.
At the time of writing, SOL is trading at $176.12 (-0.5% over the past 24 hours), according to CoinGecko. Over the past week, the price has increased by 7.1%.
As a reminder, in May, Sygnum assessed the prospects of competition between Ethereum and Solana. According to their experts, there is no convincing evidence that the "people’s ecosystem" will become the preferred choice for institutional investors.
