Solana Price Forecast: Potential to Reach $500 in Four Years, Though Currently Lagging Behind ETH, Says Major Bank Analyst

On May 27, Standard Chartered Bank announced the commencement of its investment analysis on the cryptocurrency Solana (SOL), forecasting an increase from the current $175 to $500 by 2029, as reported by The Block and others. Geoffrey Kendrick, the bank's Head of Digital Asset Research, pointed out that Solana's network is overly dependent on meme coin transactions. 'The current use of Solana is heavily skewed towards trading, particularly dominating in meme coin transactions,' he analyzed. Meanwhile, while meme coin transactions have strengthened Solana's infrastructure, the sustainability...