Standard Chartered: Solana to Reach $500 by 2029, But Challenges Remain

Geoffrey Kendrick, head of crypto research at Standard Chartered, predicts a significant price increase for Solana (SOL) in the coming years. He expects SOL to reach $500 by 2029, though he acknowledges potential short-term challenges due to reliance on memecoin transactions that may hinder its stability and market perception. He also anticipates Ethereum will outperform Solana initially in the short term due to its well-established DeFi ecosystem.