According to Geoffrey Kendrick, Head of FX and Digital Assets Research at Standard Chartered, Solana’s (CRYPTO: SOL) current dependence on meme coin trading could limit its performance compared to Ethereum (CRYPTO: ETH) for the foreseeable future. In a recent note, Kendrick mentioned that Solana’s journey towards enhancing real-world applications, such as robust financial platforms and social media services, remains several years away from meaningful scalability.

This caution regarding Solana’s future highlights the challenges it faces as it aims to establish itself apart from the meme coin phenomenon. Investors should be aware of the risks involved as Solana looks to diversify its use cases beyond the current trends.