Solana in bull run mode? As the cryptocurrency market waits for a new Bitcoin (BTC) high, some financial observers are already anticipating a bullish rebound. This is particularly the case for Standard Chartered bank, which has just published a new analysis on the Solana (SOL) network. And it is rather optimistic!
Solana has been considered by Standard Chartered bank as a promising blockchain capable of competing with Ethereum.
An expert from this bank has predicted that the price of SOL could reach $275 by the end of 2025.
Solana promised a bright future if the network matures and attracts beyond memecoins
The Solana network is among the most popular blockchains in the crypto sector, notably due to its very low transaction fees and speed. A situation that allows it to position itself as an alternative to Ethereum (ETH), particularly in the field of memecoins.
A dynamic that Standard Chartered bank has just taken into account in a report commented on by Investing. In this report, Geoff Kendrick, the global head of research on digital assets for Standard Chartered, believes that the SOL network has good chances of standing out in the coming years:
"The key to Solana's future success will be to maintain its main advantage in transaction confirmation (fast, cheap, and reliable) and apply it to something other than memecoin trading."
Geoff Kendrick
Standard Chartered sees the price of SOL reaching $275 by the end of the year
The financial expert from the major British bank estimates that the price of SOL could thus increase by +50% by the end of 2025, bringing it to around $275.
For Standard Chartered, the SOL network could even dominate in emerging sectors within two to three years of further development. Areas such as decentralized social networks and high-speed financial applications are cited among these potential growth sectors for Solana.
Geoff Kendrick thus anticipates that the price of SOL could reach $500 by 2029 if Layer-1 succeeds in competing with, or even outpacing, Ethereum in these still-emerging use cases.
In addition to this development of its on-chain functions, Solana could also be propelled in the medium term by the approval of spot ETFs for SOL. Even though, for now, the U.S. SEC (Securities and Exchange Commission) prefers to play the waiting game and postpone its decision on these exchange-traded funds.