Prediction Made by Standard Chartered: Possible Value of Solana Reaching $500 by 2029
In a recent analysis, global banking giant Standard Chartered has compared Solana and Ethereum, two major players in the blockchain ecosystem. The comparison focuses on technical capabilities and long-term market trends, with a particular emphasis on Solana's potential as a relevant asset in the market over a five-year period.
According to the report, institutional interest in Solana is growing, contributing to long-term optimism. Analysts at Standard Chartered believe that understanding the differences between Solana and Ethereum is key to predicting trends and opportunities in the cryptocurrency market.
One of the key factors driving Standard Chartered's Solana price forecast is the strong growth prospects in decentralized finance (DeFi) on Solana's network. The bank sees stablecoins, the fastest-growing segment of the crypto market, as a potential "killer app" for Solana, where users convert real-world dollars into digital dollars to engage in DeFi activities on Solana's blockchain.
Solana's ability to process transactions quickly and at low cost is a significant factor in its efficiency for developers and users. This efficiency, combined with the rapid expansion and utility of stablecoins, contributes to Solana's optimistic long-term scenario.
However, the report suggests that Solana may experience a slight lag compared to Ethereum in the short term, due to its dependence on memecoins. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, believes that Solana's dependence on memecoins is a transitory phase. The reduction of Solana's dependence on memecoins is expected to allow it to solidify its market position in the medium and long term.
The diversification of use cases and constant innovation in Solana's network also contribute to its optimistic long-term scenario. The momentum of Solana continues to strengthen as new use cases and applications emerge on its platform.
By the end of 2025, Standard Chartered predicts that the value of Solana (SOL) could reach $275. The bank's report suggests that Solana could potentially reach $500 by 2029, aligning with a multibillion-dollar market cap. This prediction is based on sustained growth in practical applications and increased adoption, as well as a bullish yet realistic price trajectory compared to other scenarios in the market.
Ethereum, on the other hand, has achieved a solid position thanks to its diverse ecosystem and strong adoption. This lag is expected to be overcome with changes in market dynamics and interest in more solid and diversified use cases, according to Standard Chartered's report.
It's important to note that the investment in cryptoassets is not fully regulated and may not be suitable for retail investors due to its high volatility, and there is a risk of losing the entire amount invested. As always, it's recommended to do thorough research and consult with a financial advisor before making investment decisions.
[1] Source: CoinDesk, "Standard Chartered Predicts Solana Could Reach $500 by 2029", link
- The diversification of use cases and constant innovation in Solana's network, combined with the strong growth prospects in decentralized finance (DeFi) and the potential of stablecoins, positions Solana as an attractive asset for long-term investing in the cryptocurrency market, according to Standard Chartered's analysis.
- In the medium and long term, the reduction of Solana's dependence on memecoins and solidifying its market position, as predicted by Standard Chartered, could lead to a significant increase in the value of Solana, potentially reaching $500 by 2029, based on the bank's report.
