Standard Chartered predicts that Solana’s performance will be lower than Ethereum over the next few years, due to its excessive reliance on memecoins.
Standard Chartered Bank, a leading investment bank, sees Solana (SOL) By the end of this year, the price will have doubled. It will probably still underperform Ethereum, even at that level. (ETH). Geoff Kendrick shared his thoughts on Tuesday, May 27. He is Standard Chartered’s Head of FX Research and Digital Assets. insights Solana in the coming two-three years.
Kendrick believes that Solana’s current value of $176.72 could rise to $275 before the year 2025. Solana may reach $500 in 2029. This trajectory, however, would likely still see Solana underperform Ethereum. Ethereum, on the other hand, is expected to reach $4,000 at the end of 2025, and $7,500 in 2029.
Standard Chartered Standard Chartered says that Solana relies too much on memecoins
Kendrick based his insight on Solana’s dependence on memecoin trading. He called it a “double-edged sword,” It is worth noting, that despite the fact memecoins could boost Solana’s value in the near term, future growth of the Solana sector will likely stagnate.
“Going forward, I think we are past peak-memecoin,” Kendrick noted that, while Solana demonstrated a strong technical performance in the past, memecoins present an increased risk. He said that market conditions are deteriorating. “applying a quantifiable discount” Solana’s revenue in the application-layer sector has decreased due to a slowdown in growth.
Total market capitalization of memecoin reached an all-time high In December 2024, the market will reach $100 billion. Solana memecoins topped out in January of 2025. This coincided both with the recent bull market rally. Solana would be affected by a decline in memecoins if the activity begins to decrease.
Ark Invest’s CEO Cathie Wood echoed Standard Chartered in March by stating the majority of memecoins will probably be a success. become worthless At some point. She expressed a positive attitude towards both Solana and Ethereum, saying that they will continue to grow over time.
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Source: crypto.news
