Analysts at Standard Chartered forecast that Solana’s market value could reach $500 by 2029. However, they anticipate that in the next two to three years, the cryptocurrency will “underperform Ethereum,” according to The Block.
Jeffrey Kendrick, head of digital asset research at Standard Chartered, suggests that by the end of 2025, the price could reach $275, and by 2029 — $500. He also predicts that the ETH to SOL ratio will increase from 14 to 17 by the end of 2027.
“The dominance of meme coins in Solana transactions is both a strength and a weakness. The network has demonstrated the ability to handle a large volume of operations with low fees, but sustainable growth requires new use cases,” Kendrick noted.
The expert compared the blockchain’s market capitalization to its “GDP” — the aggregate income of applications and protocols on the network. By this measure, Solana is currently undervalued.
Financial services, social networks, and DePIN are identified as promising areas for Solana by the analyst. However, their development will take two to three years, during which time activity in the ecosystem may decline.
“Reduced usage and low ‘GDP’ valuation are a poor combination for short-term dynamics. But by 2029, Solana could realize its potential,” Kendrick concluded.
At the time of writing, SOL is trading at $176.12 (-0.5% over the day), according to CoinGecko. Over the week, the price has risen by 7.1%.
Back in May, Sygnum assessed the prospects of competition between Ethereum and Solana. Experts believe there are no compelling signs that the “people’s ecosystem” will become the preferred choice for institutions.