USA Elections

Banking giant Standard Chartered predicts that if Donald Trump wins the 2024 US presidential election, Solana could see a significant growth of up to 400%. The bank's head of digital assets noted that Solana's faster transaction speed and support for decentralized applications position it well in the pro-crypto environment.

Standard Chartered predicts that if Donald Trump wins the 2024 election, Solana will soar.

Banking giant Standard Chartered predicts that if Donald Trump wins the 2024 US presidential election, Solana (SOL) may see a potential surge. The bank's digital assets head, Geoffrey Kendrick, expressed an optimistic outlook on Solana in a research note this week, forecasting a 400% growth for the cryptocurrency.

In an email sent to CNBC, Kendrick shared his predictions for the Trump administration in 2025, expecting Solana to surge by 400%, Ethereum to rise by 300%, and Bitcoin to grow by 200%. This would mean SOL surpassing $700, ETH over $9,650, and BTC crossing $185,000 by the end of the year. He pointed out that Solana's fast transaction speed and support for decentralized applications make it a strong contender in the pro-crypto environment. Kendrick also mentioned that in a Trump rather than Kamala Harris scenario, a Solana Exchange-Traded Fund (ETF) is more likely to happen. He described:

Overall, we believe that the Trump administration would be more supportive of a wider digital asset ecosystem compared to the Harris administration.

Conversely, Kendrick predicts that under a Harris presidency, Bitcoin will outperform Ethereum and Solana in 2025. He forecasted that if Harris is elected, Ethereum could reach around $7,000, while if Trump is elected, it could exceed $9,650. "In comparing the results of Trump and Harris, similar arguments can be made regarding the relative prospects of ETH versus BTC," commented Kendrick.

He also emphasized that Solana's current valuation seems high compared to Ethereum, requiring a significant increase in throughput. Kendrick wrote:

This high valuation necessitates a 100-400x increase in Solana's throughput over the next few years, a scenario that seems more reasonable under Trump's leadership rather than Harris'.