Standard Chartered says the Solana cryptocurrency could significantly outperform Ethereum and Bitcoin if former President Trump wins the U.S. election. In a new research note, the bank’s head of digital assets, Geoffrey Kendrick, outlines his expectations for Bitcoin, Ethereum, and Solana, depending on whether Trump or his Democratic rival, Vice President Kamala Harris, win the presidency. election. Launched in 2020, Solana is designed to be faster than other cryptocurrencies. Like Ethereum, it enables developers to build applications – something that is difficult to do with Bitcoin, which is primarily used for transactions. Trump and Harris Kendrick said in an email that if Trump, who is often seen as pro-cryptocurrency, is re-elected as the US president, he expects Solana to surge 400%, Ethereum to rise 300%, Bitcoin to surge 300% in 2025 The coin will rise 200%. “Broadly speaking, we think the Trump administration is more supportive of the broader digital asset ecosystem than the Harris administration,” he said, adding the possibility of launching a Solana ETF, or exchange-traded fund, under Trump Sex is more likely than it was under Trump. Kendrick added: “A similar argument can be made for the relative prospects of ETH vs. BTC under the Trump-Harris election outcome in the United States.” However, if Harris wins the White House, Kendrick said he expects that by 2025 , Bitcoin will outperform Ethereum, and Ethereum will outperform Solana. The price of Ethereum will reach around $7,000, while the price of Ethereum under Trump is $10,000. Ethereum is currently trading around $2,410. Solana Valuation Although Kendrick was bullish on Solana during the Trump presidency, he noted that its current valuation looks “expensive” compared to Ethereum across all backward-looking metrics. These include Solana’s high market cap to transaction fee ratio, the overall net issuance of the token, and the “real staking yield” (in other words, the return earned from validating transactions). He wrote: “Such a high valuation would require a 100-400x increase in Solana’s throughput (over the next few years), which seems more reasonable under Trump than under Harris (because the Trump administration will impose heavy restrictions on the entire digital asset ecosystem). system friendlier)” in the email.
Standard Chartered: Solana cryptocurrency could rise 400% if Trump wins election | Real Time Headlines
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