📉 Solana at a Crossroads: Standard Chartered Warns of Memecoin Reliance

Standard Chartered has issued a new warning on Solana ($SOL ), suggesting the Layer 1 may be overexposed to memecoin hype and lacking broader utility growth.

Analyst Geoffrey Kendrick noted that while Solana's speed and low fees fueled its meme dominance, it now faces pressure to evolve into sectors like DeFi, DePIN, and Web3 social.