Standard Chartered Raises Solana (SOL) Price Target to $500 by 2029, Citing DeFi Growth and Scalability Upgrades Despite Short-Term Volatility
Standard Chartered has revised its Solana (SOL) price forecast, projecting that the cryptocurrency could reach $275 by 2025 and as high as $500 by 2029, even as the asset faces short-term price weakness. The bank’s research highlights Solana’s strong position in blockchain scalability, rapid transaction speeds, low fees, and growing presence in decentralized finance (DeFi) as key reasons for its bullish outlook. While memecoin trading currently drives a significant portion of activity on Solana, Standard Chartered notes that upcoming upgrades—especially the Firedancer validator client co-developed with Jump Crypto—are expected to boost network throughput, enhance technical capabilities, and attract institutional interest. The report underscores Solana’s robust on-chain metrics, including over 10 million active addresses, a 320% year-over-year growth in quarterly fee revenue, and a total value locked of $9.4 billion, ranking second among layer-1 blockchains after Ethereum. Analysts caution that Solana’s ecosystem must diversify beyond memecoin trading to maintain stability, and that short-term volatility is likely to persist. Nevertheless, the bank describes Solana as one of the few projects with substantial long-term value potential, positioning it as a leading rival to Ethereum in DeFi and an attractive asset for developers and institutional investors. Traders should watch for upcoming network developments and broader adoption trends as potential catalysts for price appreciation.
Bullish
Standard Chartered’s report signals strong long-term optimism for Solana (SOL), citing its technical advancements, DeFi leadership, network growth, and potential for institutional adoption. The projected price targets of $275 by 2025 and $500 by 2029 reflect an expectation of significant appreciation, especially if upcoming upgrades and ecosystem diversification succeed. While the bank acknowledges current volatility and short-term underperformance compared to Ethereum, the emphasis on scalability improvements, expanding developer and institutional interest, and robust on-chain activity suggest that fundamentally driven growth prospects outweigh near-term risks. For traders, these signals indicate a bullish outlook on a multi-year timeframe, though short-term fluctuations are likely.