One analyst predicts that Solana (SOL) may increase twenty times from its current low point.

Solana’s Evolving Role in Digital Payments

A recent report by Jeffrey Kendrick, who heads Cryptocurrency Research at Standard Chartered, suggests that Solana’s reputation as a memecoin might evolve into a more substantial role in digital payments.

In light of SOL’s recent drop into the $100s range, Kendrick updated his price forecast for SOL by the end of 2026, reducing it from $310 to $250. Still, he remains optimistic, envisioning a rise to $2,000 by 2030, primarily fueled by Solana’s expanding involvement in stablecoin-based micropayments.

The bank highlights a shift in Solana’s image, moving away from being solely a “one-trick pony.” In 2025, nearly half of its protocol fees originated from memecoin trading on decentralized exchanges. However, recent data indicate a transition in transaction flows from meme tokens to SOL and stablecoin pairs, hinting at the emergence of new applications. Currently, stablecoin transactions on Solana outpace those on Ethereum, which reflects a different kind of economic activity—high-frequency, low-cost transactions.

For instance, x402, a platform from Coinbase, supports micro-sized AI-driven payments using stablecoins, with average transaction costs as low as 6 cents. While Base, Coinbase’s Layer 2 network on Ethereum, currently handles most of this volume, its fees might jeopardize long-term viability. Kendrick notes that Solana’s gas fees are generally less than a cent, making it a more suitable option for these kinds of applications.

Micropayments, which can be impractical in traditional finance due to set transaction fees, could pave the way for innovative internet services, from machine-to-machine payments to social apps featuring pay-as-you-go functionalities. Solana’s technical capabilities position it well to support this sort of infrastructure.

Additionally, there’s growing interest from institutional investors. Since October 2025, the Bitwise BSOL ETF has gained 78% of net inflows into SOL-related ETFs, managing over 1% of the total supply of SOL. At the same time, digital asset government bonds now account for nearly 3% of SOL holdings.