Solana (SOL), which experienced a major collapse after FTX's sudden bankruptcy in 2022 and which everyone expected to go to zero, experienced a major attack in 2023.
While Solana, which has virtually reborn from the ashes, is seen as a major rival for Ethereum (ETH) and many altcoins, Standard Chartered announced its SOL predictions.
According to The Block, Standard Chartered stated that Solana has tremendous potential, but in the short term, SOL will lag behind Ethereum.
Geoffrey Kendrick, head of global digital assets research at Standard Chartered, said Solana currently relies solely on memecoin trading.
According to Kendrick, Solana could lag behind Ethereum in the near term until new use cases beyond memecoins gain traction.
Therefore, Kendrick said that they predict Solana will underperform Ethereum over the next two to three years due to its heavy reliance on memecoin trading.
“Solana is very heavily traded in current usage. Within transactions, Solana dominates memecoin trading.
“Memecoin trading addiction Solana is likely to face a two to three year period of low activity and poor price performance.”
Geoffrey Kendrick also revealed his Solana price prediction. Accordingly, the analyst predicted that SOL will reach $275 by the end of 2025, $310 by the end of 2026, $350 by the end of 2027, $475 by the end of 2028, and finally $500 by the end of 2029.
*This is not investment advice.
