Over the past week, SOL dropped roughly 20%, retracing from the $120-125 range to trade near $100. The price dropped fast with big red candles – caused by the overall market weakness of the recent days, and NOT a loss of interest in Solana.
RSI indicated that selling pressure has been intense in a short span of time. In effect, SOL’s price has moved in the opposite direction from its on-chain growth.
The long gameThat gap between activity and price is exactly where Standard Chartered sees Solana’s longer-term opportunity.
While the bank trimmed its near-term outlook for SOL from $310 to $250, it recently raised its forecasts further out.
They noted that the network is moving beyond meme coin-led trading cycles and that they will be dominant in stablecoin transfers and micropayments.
The forecasts state that SOL will reach $400 by the end of 2027, $700 by the end of 2028, and $1,200 by end-2029.
According to Geoff Kendrick, Global Head of Digital Assets Research, activity on Solana’s DEXs is moving toward SOL-stablecoin pairs, with stablecoins circulating far faster than on Ethereum.
That efficiency could unlock new use cases (particularly AI-driven micropayments), even if scale takes time to arrive.
Final Thoughts
- Solana led January DEX volume, even as SOL fell 20%.
- Standard Chartered’s long-term SOL target depends on stablecoins and micropayments.