PANews reported on February 4th, citing CoinDesk, that Geoff Kendrick, Head of Cryptocurrency Research at Standard Chartered Bank, believes Solana is evolving from a meme-focused network into a backbone network for stablecoin-based micropayments. While Kendrick lowered his 2026 price forecast for SOL to $250, he anticipates it will reach $2,000 by 2030. SOL has been particularly hard hit by the cryptocurrency market downturn, falling approximately 60% since mid-September.