PANews reported on May 27 that according to The Block, Geoffrey Kendrick, head of research at Standard Chartered Bank, said that although Solana (SOL) is expected to rise to $500 by 2029, it may underperform Ethereum in the short term due to its current over-reliance on memecoin transactions. He predicts that SOL will rise to $275 by the end of the year and will experience a period of declining usage and undervaluation before 2027. Kendrick pointed out that Solana still has the potential to support future scenarios such as financial applications, social media and decentralized physical infrastructure, but related projects will take 2-3 years to mature and land.