Banking giant Standard Chartered has forecasted a potential spike in solana (SOL) if Donald Trump wins the 2024 U.S. presidential election.
Banking giant Standard Chartered predicts that solana (SOL) could experience a significant surge of up to 400% if Donald Trump wins the 2024 U.S. presidential election.
The bank’s head of digital assets suggests that solana’s faster transaction speed and support for decentralized applications position it well in a crypto-friendly environment.
Standard Chartered Predicts Solana Surge if Trump Wins 2024 Election
Banking giant Standard Chartered has forecasted a potential spike in solana (SOL) if Donald Trump wins the 2024 U.S. presidential election. Geoffrey Kendrick, the bank’s digital assets chief, expressed an optimistic outlook on Solana in a research note this week, predicting the cryptocurrency could see a 400% increase.
In an email to CNBC, Kendrick shared his projections for 2025 under a Trump administration, expecting solana to jump by 400%, ether to climb by 300%, and bitcoin to rise by 200%. This would translate to SOL reaching over $700, ETH surpassing $9,650, and BTC topping $185,000 by year’s end. He pointed out that Solana’s fast transaction speed and capacity for decentralized applications make it a strong candidate in a pro-crypto climate.
Kendrick also mentioned that a solana exchange-traded fund (ETF) would be more likely under Trump 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 noted.
Conversely, Kendrick predicts that a Harris presidency would lead to bitcoin outperforming both ether and solana in 2025. He projects ether could hit approximately $7,000 under Harris, compared to over $9,650 if Trump were elected. “Similar arguments can be made for the relative outlook for ETH versus BTC under a Trump versus Harris outcome in the US,” Kendrick added.
He also emphasized that solana’s current valuation is high compared to ether, which would require a dramatic increase in throughput. “This rich valuation requires throughput on Solana to increase 100-400X (over the next several years), something that seems more reasonable under Trump than Harris,” Kendrick concluded.
What are your thoughts on Standard Chartered’s prediction of a potential solana surge under a Trump presidency? Share your opinions in the comments below.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.