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The head of digital asset research at Standard Chartered, Geoffrey Kendrick, has revised his expectations for the price of SOL, lowering it from $310 to $250 by the end of 2026. However, he has increased the long-term forecast for the cryptocurrency to $2000 by the end of 2030.
Kendrick anticipates that by the end of 2027, the price of Solana will reach $400 (previously projected at $350), $700 by the end of 2028 (previously $475), and $1200 by the end of 2029 (previously $500).
The updated, more pessimistic short-term forecast is attributed to the recent decline in the cryptocurrency market. The coin has decreased by 22% over the past week and more than 52% over the year, now priced at $97.87. The altcoin has experienced a significant drop from its all-time high of $293, reached in January of last year following the launch of the meme coin Official Trump (TRUMP) on the Solana network.
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Nevertheless, Kendrick suggested that SOL could excel in transactions involving stablecoins. Fund flows in Solana on decentralized exchanges are beginning to shift from meme coins to trading pairs of SOL with stablecoins. The turnover of these stablecoins occurs two to three times faster than tokens paired with ETH, Kendrick explained. He noted that he is currently paying close attention to two indicators: the volume of stablecoin transfers in Solana and the transaction speed of stablecoins on this blockchain.
The analyst is confident that due to its low cost and high transaction speed, the Solana blockchain will be able to dominate in micropayments. This is particularly relevant for payments conducted using protocols like x402 based on artificial intelligence, where the average transaction amount is only $0.06.
According to Kendrick’s calculations, the average transaction fee in Solana is $0.0007, compared to $0.015 in the Base network. However, Solana can profit from processing transactions that are considered too small for traditional banks and even for most other blockchains, Kendrick stated. The Standard Chartered analyst suggested that Solana may lag behind Ethereum until 2027, but will catch up as the micropayment market expands.
In Kendrick’s recent forecast, he indicated that Ethereum could rally to $7500 this year, although this figure is lower than the previously stated $12,000. The growth of the altcoin may be triggered by weak performance from Bitcoin, which negatively impacts the entire cryptocurrency market, the expert explained.
