Editor's PiCK
SC "Solana Expected to Underperform Ethereum in the Short Term... Ultimately Heading to $500"
Summary
- Standard Chartered's report stated that Solana may show lower performance compared to Ethereum in the short term.
- Solana is likely to establish itself as a major network in the long term, based on low fees and high TPS.
- The report projected that Solana will reach $500 by the end of 2029.
Solana (SOL) is likely to underperform Ethereum (ETH) in the short term, but it could rise to $500 in the long term, according to an analysis.
On the 27th (local time), The Block reported that Standard Chartered stated in a report, "Solana may show lower performance compared to Ethereum in the short term," adding, "This is because the current growth of the Solana network relies on meme coin trading." It continued, "Meme coins have already peaked. The next 2-3 years could be a transitional period for Solana," evaluating that short-term growth momentum is weak.
However, the long-term outlook for Solana was assessed positively. The report stated, "Solana has strengths such as low fees and high TPS (transactions per second)," and analyzed, "As sectors like financial applications, social platforms, and decentralized physical infrastructure networks (DePIN) grow, it will establish itself as a major network." It further projected, "Solana will reach $275 by the end of this year and $500 by the end of 2029."
As of 8:18 PM, Solana is trading at $175 on the Binance USDT market, down 0.65% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
