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The solana cryptocurrency could see significant growth compared to ether and bitcoin if former President Donald Trump is re-elected, according to Standard Chartered. In a recent research note, Geoffrey Kendrick, the bank’s head of digital assets, outlined his projections for bitcoin, ether, and solana based on the outcome of the U.S. presidential election. Solana, which was launched in 2020, boasts faster transaction speeds than other cryptocurrencies and allows developers to create applications similar to ether.
If Trump, known for being supportive of cryptocurrencies, wins the presidency again, Kendrick anticipates solana to surge by 400%, ether by 300%, and bitcoin by 200% by 2025. This would potentially see solana surpass $700, ether over $9,650, and bitcoin over $185,000. Kendrick believes that a Trump administration would be more favorable towards digital assets, making the introduction of a solana ETF more likely under his leadership.
If Vice President Kamala Harris becomes president, Kendrick predicts that bitcoin will outperform ether, with ether in turn outperforming solana by 2025. Under Harris, he expects ether to reach around $7,000 by the end of next year, compared to $10,000 under Trump’s administration.
Despite Kendrick’s positive outlook on solana under a second Trump term, he acknowledges that its current valuation appears high when compared to ether based on various metrics. He suggests that for solana to justify its valuation, its transaction throughput would need to increase significantly, which he believes is more feasible under a Trump presidency due to his friendlier stance towards digital assets.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.