Standard Chartered's expert, Geoff Kendrick, has provided forecasts for the cryptocurrency market, highlighting potential growth for Solana under specific political conditions.
Predictions for Solana, ETH, and BTC
If Donald Trump wins the US presidential election, Solana is expected to increase fivefold by the end of 2025. Kendrick predicts Ethereum could quadruple and Bitcoin could triple in value. 'Based on today's prices under Trump, I estimate the following rates by the end of 2025: SOL 5X, ETH 4X, BTC 3X,' Kendrick noted.
Alternative Scenarios
In a scenario where Kamala Harris becomes president, Kendrick suggests Bitcoin will outperform Ethereum, and Ethereum will outperform Solana. 'In US dollar terms, we expect Ethereum to reach $7,000 by the end of 2025 if Kamala Harris is president,' he said. Regardless of the election result, Bitcoin is anticipated to reach $200,000 by that time.
Conditions for Solana's Growth
Kendrick outlined the conditions required for Solana's predicted rise, touching on the role of a Trump administration in supporting the ecosystem. 'A Solana ETF would be more likely to launch under a Trump presidency,' he stated, emphasizing that such regulatory developments could significantly benefit Solana. The market's optimism for Solana is backed by projected 100x to 400x throughput increases. To achieve valuation estimates, Solana must dominate multiple sectors requiring high transaction volumes, like finance and decentralized physical infrastructure networks. New software such as Firedancer, designed to increase throughput to one million transactions per second, is seen as a key component.
Despite various scenarios and conditions, Kendrick's predictions suggest a significant potential for cryptocurrency asset growth by 2025 under different political states.
