Standard Chartered Sets Long-Term Price Target of $500 for Solana, But Short-Term Outlook Cautious

Standard Chartered forecasts that Solana's price could reach $500 by 2029. However, over the next two to three years, the cryptocurrency might exhibit weaker performance compared to Ethereum, according to the bank's analysts. This view is contested, given Solana's new significant partnership, while Ethereum appears increasingly outdated each year, even with its upgrades. The primary factor limiting Solana's potential, as per the analysts, is its restricted application scope beyond the meme coin niche. Although it holds a leading position in this segment due to its high throughput and low fees, the meme coin market has already peaked, which introduces a certain discount in valuing Solana’s prospects. The peak of meme coins remains debatable; it is more likely that we will see seasonal surges and declines in Solana's meme coin activity. In the long term, Standard Chartered experts see potential for Solana in stable sectors such as financial services, social networks, and DePIN. Nevertheless, transitioning into these sectors could take several years.