FameEX Hot Topics | Standard Chartered Forecasts 400% Surge for Solana Under Trump Presidency

Banking giant Standard Chartered has forecasted a substantial rise in Solana (SOL) if Donald Trump wins the 2024 U.S. presidential election. Geoffrey Kendrick, the bank’s head of digital assets, expressed a bullish outlook in a recent research note, predicting Solana could see a 400% surge in value.

In an email to CNBC, Kendrick outlined his projections for 2025 under a Trump presidency, expecting Solana to rise by 400%, ether (ETH) by 300%, and bitcoin (BTC) by 200%. These estimates would push Solana’s price to over $700, ETH above $9,650, and BTC beyond $185,000 by year-end. Kendrick highlighted Solana’s fast transaction speeds and its ability to support decentralized applications as key factors that would thrive in a pro-crypto political environment.

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

However, Kendrick also predicted that under a Harris presidency, bitcoin would outperform both ether and Solana in 2025. He projected ETH could reach around $7,000 under Harris, compared to over $9,650 under Trump. He suggested similar relative outcomes for ETH and BTC performance based on the election results.

Kendrick cautioned that Solana’s current valuation seems high relative to ETH. For Solana to justify its valuation, its throughput would need to increase by 100 to 400 times over the next several years, a scenario Kendrick finds more achievable 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.