FameEX Hot Topics | Standard Chartered Predicts Solana Could Soar 400% During Trump Presidency

Banking giant Standard Chartered has predicted a significant rise in Solana (SOL) if Donald Trump wins the 2024 U.S. presidential election. Geoffrey Kendrick, the bank’s head of digital assets, shared an optimistic outlook for Solana in a recent research note, forecasting a potential 400% increase in its value.

In an email to CNBC, Kendrick outlined his projections for 2025 under a Trump presidency, expecting SOL to surge by 400%, ether (ETH) to rise by 300%, and bitcoin (BTC) to increase by 200%. These gains would see Solana reaching over $700, ETH surpassing $9,650, and BTC exceeding $185,000 by the end of 2025. He highlighted Solana’s fast transaction speeds and its capability to support decentralized applications, which would benefit from a more pro-crypto political climate.

Kendrick also noted that the likelihood of launching a Solana exchange-traded fund (ETF) would be higher under a Trump administration than under Kamala Harris. He explained that a Trump presidency would likely be more supportive of the broader digital assets ecosystem compared to Harris.

However, Kendrick believes that if Harris wins the presidency, bitcoin would outperform both ether and solana in 2025. He predicts ETH could reach around $7,000 under Harris, compared to over $9,650 with Trump in office. He also suggested similar outcomes for the performance of ETH versus BTC depending on the election result.

Kendrick emphasized that Solana’s current valuation appears high relative to ETH. He indicated that for Solana to justify its rich valuation, its throughput would need to increase by 100 to 400 times in the coming years, a scenario he finds more feasible under Trump’s leadership than Harris’s.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.