Standard Chartered predicts that if Donald Trump wins the upcoming US presidential election, the price of Solana (SOL) could rise fivefold by the end of 2025. The prediction is based on the growth of Solana’s user base, which recently surpassed 100 million monthly active addresses for the first time.
Elections and Solana (SOL)
In a discussion with Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, they outlined the potential prospects for Solana, Bitcoin, and Ethereum based on the 2024 U.S. presidential election. Kendrick expects Solana’s future to be bright if Trump takes a positive stance on cryptocurrencies during his presidency. According to him, in this scenario, the price could increase fivefold to four figures.
Furthermore, he predicts that Ethereum’s value could quadruple, while Bitcoin could triple. Of course, these are just predictions, not definitive statements about the future.
Kamala Harris Victory Scenarios
Kendrick described an alternative scenario that would play out if Kamala Harris wins the election. In this scenario, he expects Bitcoin to outperform Ethereum, which in turn would outperform Solana.
Standard Chartered Bank's bullish attitude towards Bitcoin is not affected by the US election, predicting that BTC could reach $200,000 by the end of 2025. Ethereum could rise to $7,000 during Harris' presidency and $10,000 during Trump's presidency. Solana may also struggle to live up to expectations due to the strict regulatory framework.
Jupiter and Layer3 Scaling
The latest developments in the Solana ecosystem support the network’s growth trend. Jupiter Exchange launched the Jupiter mobile app, which serves as a decentralized DEX aggregator and improves the trading performance of the Solana network. The app allows new users to purchase SOL using various payment methods and manage transactions using the “auto mode” feature.
The Layer3 blockchain platform aims to enhance the user experience on Solana by scaling its network. Layer3 has over 300,000 active users on the Ethereum Virtual Machine (EVM) network and is looking to further grow through its partnership with the Solana protocol.
A recent technical improvement to the Solana network is the Firedancer validator client, which is expected to increase transaction speeds by 100 to 400 times. This enhancement supports Solana’s strengths in sectors that require high transaction volumes, such as finance, consumer services, and decentralized physical infrastructure networks (DePIN).
The growth momentum of the Solana ecosystem stems from the increase in the number of users and the improvement of technology. These developments may help Solana gain a wider user base and consolidate its market position in the long run.
The article is for reference only and does not constitute investment advice.
