Standard Chartered has projected that Solana (SOL) will significantly underperform Ethereum (ETH) by the end of 2025 due to what it describes as Solana’s excessive reliance on memecoin trading.
Geoff Kendrick, head of FX and digital assets research at Standard Chartered, outlined these predictions, noting that Solana’s price could nearly double, rising to approximately $275 by late 2025 from its current price around $176.72. By the end of the decade, Kendrick sees Solana potentially achieving prices near $500. Yet, even with these gains, it would lag substantially behind Ethereum, which the firm forecasts will reach $4,000 by the close of 2025 and could climb to as high as $7,500 by 2029.
Kendrick attributes Solana’s weaker relative performance outlook to its heavy dependence on the volatile memecoin market. He referred to this as a “double-edged sword,” pointing out that while this has so far boosted Solana’s activity and revenue streams in the short term, ongoing momentum in the memecoin sector is likely to fade. He suggested the crypto market is already incorporating this weakening memecoin growth into its valuation of Solana, effectively applying a discount to the blockchain’s broader application-layer revenue.
The memecoin market itself reached a peak valuation of $100 billion in December 2024, while memecoin activity specifically on the Solana blockchain topped out shortly afterward in January 2025, aligning with the latest bullish crypto cycle. Kendrick stressed that any slowdown in this volatile sector could have considerable negative consequences for Solana’s overall growth and user activity.
Similar concerns about the long-term viability and volatility of memecoin investments were previously echoed by Ark Invest CEO Cathie Wood. She stated earlier this year that while most memecoin projects are likely headed for failure, robust platforms like Ethereum and Solana could emerge from this volatility with greater strength over the long term.
