Solana to Hit $500? Standard Chartered Drops Bombshell Price Target
Wall Street’s latest crypto darling just got a rocket boost. Standard Chartered—yes, the same folks who probably still fax their trades—predicts Solana could surge to $500.
When? That’s the billion-SOL question. The bank’s analysts are playing coy with exact timing, but the whisper is ’soon.’ Real helpful, guys.
Solana’s been dodging network outages and meme coin chaos like a caffeinated dev at a hackathon. Now institutional money’s eyeing it as the ’Ethereum with better cardio.’
Just remember: Bank price targets are like horoscopes for rich people—vaguely entertaining but rarely accurate. DYOR before FOMO-ing in.
Source: Lippincott
Standard Chartered Gives Bullish Outlook for Solana: What To Know
Standard Chartered Bank has long been a cryptocurrency believer. Indeed, it has most recently apologized for its Bitcoin projection. Specifically, it noted that its previous $120,000 BTC price target was actually “too low” relative to what they expect could take place for the asset class.
Their optimistic stance on its potential is rooted in the ongoing shift taking place in global finance markets. There is a rush to embrace the digital asset space like never before. Moreover, it could be set to boost one key asset. Indeed, Standard Chartered Bank has predicted that solana will eventually reach a $500 price target.
The biggest question is, when will SOL set the landmark price? According to a recent report, the bank predicts that the asset is facing an interesting four-year timeline. They project that Solana will underperform ethereum over the next three years before reaching $500 by the year 2029.
“Solana’s current uses are very trading-heavy,” the firm’s head of digital asset research, Geoffrey Kendrick, told The Block. “Within trading, Solana dominates memecoin trading. This is because of its ability to process a large number of transactions simultaneously while maintaining low fees for users.”
Conversely, he expects alternative developments like financial apps, social media, and decentralized physical infrastructure networks (DePIN) to come to fruition over the next several years. Then, it will erupt from its current $175 price point to challenge some of the most prominent tokens in the industry.
