Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Solana price could surge with potential Trump election win

Solana price could surge with potential Trump election win

GrafaGrafa2024/10/09 04:05
By:Mahathir Bayena

Standard Chartered Bank predicts a significant rise in Solana’s (CRYPTO:SOL) price if Donald Trump wins the 2024 U.S. presidential election. 

Geoff Kendrick, the bank’s Global Head of Digital Assets Research, forecasts that Solana’s price could increase fivefold, potentially reaching $145 by the end of 2025. 

This prediction is linked to Solana’s growing user base, which recently surpassed 100 million monthly active addresses, and Trump’s favorable stance on cryptocurrencies.

Kendrick also anticipates that under Trump, Bitcoin (CRYPTO:BTC) could triple, and Ethereum may quadruple in value. 

However, if Kamala Harris wins the election, Bitcoin is expected to outperform Ethereum (CRYPTO:ETH), and Ethereum would outpace Solana. 

In such a scenario, Kendrick estimates Ethereum could rise to $7,000 under Harris, while it might reach $10,000 under Trump. 

Regulatory challenges may hinder Solana’s growth if Harris is elected.

Recent advancements within the Solana ecosystem support the network’s continued growth. 

Jupiter Exchange recently launched the Jupiter Mobile Application, a decentralised DEX aggregator that enhances trading on the network. 

The app allows users to buy SOL using multiple payment methods and includes an “Auto-Mode” feature for automated transactions.

Layer3, a blockchain platform, is also expanding its presence on Solana, aiming to attract more users and improve the overall experience. 

With over 300,000 active users on Ethereum Virtual Machine (EVM) networks, Layer3 is partnering with Solana to drive further growth.

Additionally, Solana’s Firedancer validator client, designed to boost transaction speeds by 100 to 400 times, positions the network for increased adoption in sectors requiring high transaction volumes, such as finance and decentralised infrastructure.

At the time of writing, the Solana price was $144.59.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Wall Street remains bullish as S&P 500 maintains double-digit expected returns in 2025

Share link:In this post: Wall Street nearly unanimously anticipates double-digit gains for the S&P 500 in 2025. Today, the S&P 500 reclaimed the pivotal $6K level after adding almost $900B in market cap in 2025. FactSet data showed that the S&P 500 was expected to rise by 14% in 2025 following a surge in U.S. stocks last year.

Cryptopolitan2025/01/07 13:44

US stock market’s concentration hits all-time high. Is that a problem for crypto?

Share link:In this post: Just 26 stocks now control half the S&P 500’s value, with tech giants like Nvidia leading the pack. The stock market’s extreme concentration is making diversification feel like a joke. Bitcoin is showing signs of breaking free from its historical link to US stocks, climbing 10% to $102,000.

Cryptopolitan2025/01/07 13:44

TRM Labs exec likens excitement about crypto under Trump to ‘space race’ hype

TRM Labs head of legal and government affairs Ari Redbord said a Strategic Bitcoin Reserve could boost the value of BTC and trigger a global trend.

CryptoSlate2025/01/07 13:11