Solana's cryptocurrency could significantly outperform Ethereum and Bitcoin if former President Donald Trump wins the US election, according to Standard Chartered Bank. In a new research note, Jeffrey Kendrick, the bank's head of digital assets, outlined his forecasts for Bitcoin, Ether and Solana depending on whether Trump or his Democratic opponent Vice President Kamala Harris wins the presidential election. Solana, which launched in 2020, is designed to be faster than other cryptocurrencies. Like Ether, it enables developers to develop applications – something that is difficult to do with Bitcoin, which is mainly used for transactions. Trump vs. Harris If Trump — who is generally seen as a supporter of cryptocurrencies — becomes president of the United States again, Kendrick said in an email that he expects Solana to rise 400%, Ethereum to rise 300%, and Bitcoin to rise 200% in 2025. This would see Solana end next year at over $700, Ethereum at over $9,650, and Bitcoin at over $185,000. “In general, we think the Trump administration will be more supportive of the broader digital asset ecosystem than the Harris administration,” he said, adding that the introduction of a Solana exchange-traded fund, or ETF, would be more likely under Trump than under him. Harris. “Similar arguments can be made regarding the relative outlook for ETH versus BTC given the Trump versus Harris outcome in the US,” Kendrick added. However, if Harris takes over the White House, Kendrick said he expects bitcoin to overtake ether, and for ether to overtake Solana in 2025. He expects the value of ether next year to end up at around $7,000 under Harris, compared to $10,000 under Harris. Trump era. Ether is currently trading at around $2,410. Despite his bullish call for Solana under a Trump presidency, Kendrick noted that her current valuation appears to be “at a premium” versus ether by all backwards metrics. These include Solana's high market cap-to-transaction fees ratio, overall net token issuance, and “true signature yield” — in other words, the yield earned through validating transactions. “This rich valuation would require Solana’s throughput to increase by 100-400X (over the next few years), something that makes more sense under Trump than Harris (since a Trump administration would be friendlier to the overall digital asset ecosystem),” he wrote. In the email.
Trending
- Asian Markets Live: RBNZ, RBI Decision,
- Solana Cryptocurrency Could Surge 400% If Trump Wins Election: Standard Chartered
- The automaker expects 2025 profits to be similar to 2024
- Hurricane Milton could cause up to $175 billion in damage, according to preliminary estimates
- Tiger Woods' logo dispute with Tiger Woods escalates
- America's largest water utility has been hacked with US infrastructure targeted
- How to File a Homeowners Insurance Claim After Hurricane Helen, Milton
- Stock Market Today: Live Updates
Solana Cryptocurrency Could Surge 400% If Trump Wins Election: Standard Chartered
