In a recent note to clients, Geoffrey Kendrick, head of digital assets at Standard Chartered Bank, shared his predictions for Bitcoin, Ether, and Solana, should either Donald Trump or Kamala Harris win the U.S. presidential election.
Solana, launched in 2020, is a cryptocurrency that, like Ether, allows developers to build decentralized applications—a feature more difficult to implement with Bitcoin.
Kendrick stated that if Trump, who holds favorable views on cryptocurrencies, is re-elected, Solana could soar by 400%, Ether by 300%, and Bitcoin by 200% by 2025. By the end of 2025, Solana could be trading at $700, Ether above $9,650, and Bitcoin over $185,000.
Kendrick believes a Trump administration would be more supportive of the crypto ecosystem compared to a Harris administration. However, there’s a higher likelihood of a Solana ETF launch under Harris. Nonetheless, if Harris wins the White House, Bitcoin could outperform Ether, while Ether would likely see stronger growth than Solana by 2025.
He also forecasts Ether trading around $7,000 by the end of this year under Harris, and reaching $10,000 if Trump is elected. Currently, Ether trades at around $2,410. Despite his optimistic outlook for Solana under Trump, Kendrick cautioned that Solana’s valuation remains high relative to Ether.
Kendrick pointed out factors for comparing Ether and Solana’s valuations, including Solana’s higher market cap-to-transaction fee ratio and its “real staking yield” (the return users earn for locking their assets to support the blockchain and receiving additional tokens in return).
To reach such lofty valuations, Kendrick noted, Solana’s transaction throughput would need to increase by 100-400 times in the next few years. This outcome, he argued, is more likely under a Trump presidency due to his administration’s friendlier stance toward the entire crypto ecosystem.
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