Jeffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, has shared a comprehensive forecast for major cryptocurrencies through 2029, highlighting significant long-term potential for Solana (SOL) despite short-term challenges. Kendrick notes that Solana is currently underperforming due to the overheated memecoin market but sees promising growth opportunities in decentralized finance (DeFi), SocialFi, and decentralized physical infrastructure networks (DePIN) over the coming years.
Solana’s Price Outlook and Growth Drivers
Kendrick predicts Solana could surge to $500 by the end of 2029, representing a substantial increase from current levels. This bullish outlook depends on several key developments, including the successful deployment of Firedancer, a third-party validator client designed to dramatically boost Solana’s transaction throughput to up to one million transactions per second. Additionally, Kendrick emphasizes that Solana must establish dominance across multiple sectors such as finance, consumer services, and DePIN, which require high network throughput.
In the nearer term, Kendrick expects Solana to lag behind Ethereum (ETH) due to current market dynamics, but this gap may close as Solana’s ecosystem matures and throughput improves. The introduction of a Solana exchange-traded fund (ETF) is also seen as a potential catalyst, especially under a Trump administration, which Kendrick believes would be more supportive of digital assets compared to a Kamala Harris presidency.
Broader Cryptocurrency Price Forecasts by Kendrick
Alongside Solana, Kendrick provided price targets for other major cryptocurrencies by 2029:
- Bitcoin (BTC) is forecasted to reach $500,000, driven by increasing institutional adoption and reduced volatility as ETFs gain traction, with a steady climb expected through 2025 and beyond.
- Ethereum (ETH) is expected to reach around $4,000 in the short term, with potential to rise further depending on network upgrades and competitive pressures from Layer 1 alternatives.
- Binance Coin (BNB) is projected to hit approximately $2,775.
- Ripple (XRP) could reach $12.50.
- Avalanche (AVAX) is forecasted to increase tenfold to about $250, supported by its scalability improvements and growing developer adoption, positioning it as a strong competitor to Ethereum.
Summary of Kendrick’s Long-Term Crypto Price Targets (by 2029)
| Cryptocurrency | Price Target (USD) |
| Bitcoin (BTC) | $500,000 |
| Ethereum (ETH) | $4,000 |
| Binance Coin (BNB) | $2,775 |
| Ripple (XRP) | $12.50 |
| Avalanche (AVAX) | $250 |
| Solana (SOL) | $500 |
Kendrick’s analysis underscores the evolving landscape of digital assets, where scalability, institutional adoption, and regulatory support will play pivotal roles in shaping market trajectories over the next several years.
This forecast reflects Standard Chartered’s strategic view that while short-term volatility and sector-specific challenges persist, the long-term fundamentals of blockchain platforms like Solana and Avalanche, alongside established leaders Bitcoin and Ethereum, remain robust.
