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Standard Chartered believes that Solana will likely underperform Ethereum in the coming years due to its overreliance on memecoins.<\/p>\n
Investment bank Standard Chartered sees Solana (SOL) almost doubling by the end of the year. Still, even at those levels, it will likely underperform Ethereum (ETH). On Tuesday, May 27, Geoff Kendrick, Standard Chartered\u2019s Head of FX and Digital Assets Research, shared his insights<\/a> on Solana over the next two to three years. <\/p>\n Kendrick projects Solana could reach $275 by the end of 2025, up from its current level of $176.72. By 2029, Solana could trade as high as $500. However, this trajectory would still likely see the asset underperform Ethereum. In comparison, Ethereum is forecast to rise to $4,000 by the end of 2025 and to $7,500 by 2029.<\/p>\n <\/p>\n Kendrick bases his insights on Solana\u2019s reliance on memecoin trading. He described this as a \u201cdouble-edged sword,\u201d noting that while memecoins may boost Solana in the short term, growth in the sector is likely to stall going forward.<\/p>\n \u201cGoing forward, I think we are past peak-memecoin,\u201d Kendrick said, adding that while Solana has demonstrated strong technical performance, memecoins now present a risk factor. He noted that the market is \u201capplying a quantifiable discount\u201d to Solana\u2019s application-layer revenue due to slowing growth in this sector.<\/p>\n <\/p>\nSolana is overreliant on memecoins: Standard Chartered<\/h2>\n