Standard Chartered predicts Solana could rise 400% under Trump win
Standard Chartered has predicted that Solana (CRYPTO:SOL) could surge by up to 400% if Donald Trump wins the 2024 U.S. presidential election.
Geoffrey Kendrick, the bank’s head of digital assets, expressed optimism in a recent research note, suggesting that Solana’s fast transaction speed and support for decentralised applications position it for strong growth in a crypto-friendly environment under Trump.
In his analysis, Kendrick forecasted that Solana could reach over $700 by 2025 if Trump is elected, while other major cryptocurrencies like Ether (CRYPTO:ETH) and Bitcoin (CRYPTO:BTC) could also see significant gains.
He projected a 300% increase for Ether, reaching over $9,650, and a 200% rise for Bitcoin, pushing its price to $185,000.
Kendrick emphasised that a potential Solana exchange-traded fund (ETF) would be more likely under Trump’s administration than under Kamala Harris.
"Broadly speaking, we think a Trump administration would be more supportive of the broader digital assets ecosystem than a Harris administration," Kendrick stated.
Conversely, Kendrick predicts that a Harris presidency might lead to Bitcoin outperforming both Ether and Solana by 2025.
He also noted that Solana’s current valuation would require a significant increase in throughput, which he views as more achievable under Trump’s leadership.
At the time of writing, the Solana price was $139.24.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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