Standard Chartered Bank has made a bold prediction regarding the cryptocurrency Solana (SOL), suggesting that its price could soar fivefold by the end of 2025 if Donald Trump wins the upcoming U.S. presidential election. The forecast comes at a time when Solana’s user base has impressively surpassed 100 million monthly active addresses for the first time.
What are the Implications for Solana (SOL)?
In a recent discussion, Geoff Kendrick, the bank’s Global Head of Digital Assets Research, outlined potential impacts on major cryptocurrencies including Solana, Bitcoin, and Ethereum, depending on the election outcome. If Trump maintains a supportive view on cryptocurrencies, Kendrick believes SOL could shoot up to four-digit values.
How Would a Kamala Harris Win Affect Crypto?
Kendrick offered a contrasting perspective should Kamala Harris secure the presidency. He anticipates that Bitcoin would outperform Ethereum, while Ethereum would take the lead over Solana in this scenario. Nevertheless, the bank remains bullish on Bitcoin, projecting it could reach $200,000 by the end of 2025, with Ethereum potentially climbing to $7,000 under Harris, compared to a possible $10,000 with Trump.
Recent advancements within the Solana network are noteworthy, contributing to its market potential. Key developments include:
- Launch of the Jupiter Mobile Application, enhancing trade efficiency on Solana.
- Layer3’s aim to expand user experience, showcasing over 300,000 active users on EVM networks.
- Introduction of the Firedancer validator client, expected to significantly boost transaction speeds.
The ongoing growth of Solana’s ecosystem, driven by increasing user numbers and technological enhancements, positions the cryptocurrency favorably for a stronger market presence in the long run.