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.