According to a report from banking giant Standard Chartered, if Donald Trump wins the 2024 U.S. presidential election, Solana price surge could go up to 400%. The head of digital assets at the bank claims that Solana’s faster transaction speed and support for decentralized applications make it ripe for a surge in development and user activity in a pro-crypto Trump administration.
Standard Chartered Predicts Huge Solana Explosion
On a separate note, Standard Chartered’s digital assets head Geoffrey Kendrick in March projected a major Solana leg-up if Trump wins in 2024. He taps Solana for its strong ecosystem infrastructure, suggesting the cryptocurrency could surge 400%. Kendrick indicated that this Solana charge can be achieved on the back of swift transaction support and facilitating decentralized applications (dApps), which are highly sought after in a political arena that is more friendly towards crypto.
Kendrick also noted that a rally behind Solana would mirror the broader adoption of digital goods. He said that a Trump administration has the potential to spur on policies, which would likely be good for cryptocurrencies along the lines of Solana, that could help push forward a Solana ETF development.
Projections for Solana Price Surge Under Trump Presidency
Kendrick, in an email to CNBC, mapped out his 2025 numbers for Solana and expects the SOL rally will see it closing above $700 by the end of the year. He also pointed out that Solana’s high transaction speed and dApp support would give the blockchain platform points for exponential growth. Should a bullish case be upheld for crypto and markets at large, Solana may have the chance to be a performing cryptocurrency alongside major coins like Bitcoin and Ethereum, says Kendrick.
In addition, according to Kendrick’s calculations, a throughput increase of 100-400 times would make Solana ‘actually justified’ at its current valuation. Such growth in usage might push Solana to surge even more, cementing its standing as a major digital asset.
Speaking with sources, he remarked, “This rich valuation requires throughput on Solana to increase 100-400X (over the next several years), something that seems more reasonable under Trump than Harris.”
Trump vs Harris: Solana Pump Due To US Opposition?
Kendrick’s take also posited that Solana would not see a boost to the same magnitude under a Harris administration. A Trump administration would be much more free with cryptocurrencies in this bull market and that would bring a Solana moon even higher than it will under Harris. As a counterpoint, a Harris administration might cap Solana growth as Ethereum and Bitcoin have a stronghold.
Nevertheless, whatever happens in the political arena, Kendrick argues that Solana is poised for significant long-term gains regardless. That said, if broader Web3 adoption continues to increase, even a more moderate Solana rally could happen under less favourable circumstances.
Conclusion: Can a Solana Price Surge Shape the Future?
The possibility for political conclusions that would affect crypto is part of what market participants are keeping an eye on as the 2024 U.S. election approaches. The 400% Solana rally Standard Chartered is calling for under Trump has investors and analysts watching closely. Whether this Solana rally pans out will depend on a variety of things, including political circumstances, market forces and the ongoing development of blockchain technology.
Traders and investors are keeping a close eye on the US elections, wondering how the results would affect Solana’s price surge. Changes in politics and regulations can have a big impact on market mood and increase interest in cryptocurrencies. The cryptocurrency community is prepared for possible turbulence and possibilities related to Solana’s performance as the election draws near.
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