Is Solana Becoming a ‘Memecoin’ One-Trick Pony? Standard Chartered Weighs In

A recent report from Standard Chartered suggests that the layer-1 blockchain, Solana, may be evolving into a “one-trick pony” for memecoin trading. The bank attributes this trend to Solana’s design prioritizing fast and cheap transaction confirmation, which has led it to dominate the memecoin space, accounting for most of its activity. However, as the frenzy surrounding these assets wanes, Standard Chartered warns that Solana may struggle to maintain momentum, potentially leaving it behind Ethereum in the coming years.