Solana To Trail Ethereum, Says Standard Chartered: ‘We Are Past Peak Meme Coin’
Solana‘s (CRYPTO: SOL) reliance on meme coin trading as its dominant use case could hold back its performance relative to Ethereum (CRYPTO: ETH) for the foreseeable future, according to Standard Chartered‘s Head of FX and Digital Assets Research Geoffrey Kendrick.
What Happened: In a note sent to Benzinga on Tuesday, Kendrick stated that real-world applications on Solana, such as high-throughput financial platforms and consumer-facing services like social media, are “still some years away” from scaling meaningfully.
“Going forward, I think we are past peak-memecoin,” Kendrick wrote, adding that while Solana has proven its technical strengths in transaction speed and cost-efficiency, broader sector adoption has yet to materialize.
This gap, he says, will likely cause Solana to underperform Ethereum in the near …
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