Standard Chartered Bank: Trump's re-election drives Solana to dominate the market, Bitcoin expected to break through $200,000

Standard Chartered's Head of Digital Assets Research, Geoffrey Kendrick, was recently interviewed. Kendrick pointed out that if Trump wins the election, it will help Solana (SOL) surpass Ethereum (ETH) and Bitcoin (BTC) by 2025 to become the top-performing cryptocurrency. Kendrick also boldly predicted that regardless of the election outcome, Bitcoin is expected to break the $200,000 mark in 2025.

Trump's Election Beneficial for Solana, Future Trading Volume Could Increase Hundredfold?

Kendrick has proposed a series of new valuation standards focusing on Solana and Ethereum. He emphasized that if Trump wins the election, it could create a more favorable environment for the cryptocurrency ecosystem. Kendrick stated that Solana's market cap-to-fees ratio is currently as high as 250 times, compared to Ethereum's 121 times, showing the market's high expectations for Solana's future growth.

Kendrick also mentioned that assuming Trump is successfully elected, Solana's trading volume could potentially increase by 100 to 400 times, making the market's high valuation of it more reasonable. Kendrick added that these predictions are based on the possibility that Solana could process more transactions faster and cheaper in the coming years, and policies supporting cryptocurrencies could further drive this growth.

Differences in Policies of Trump and Harris Could Impact the Market, Kendrick Still Bullish on Solana

Kendrick also shared his views on the impact of Trump and Harris's policies on the market. In the scenario of Trump winning, the expected increase in Solana is 5 times, Ethereum 4 times, and Bitcoin 3 times. However, if Harris wins, Kendrick predicts that Bitcoin will outperform Ethereum, and Ethereum will slightly surpass Solana.

Kendrick also mentioned that if Trump dominates in 2025, the price of Ethereum could reach up to $10,000, while with Harris, it is estimated to be $7,000. Regardless of the election outcome, Bitcoin could potentially surpass $200,000.

Currently, Solana is considered a strong competitor to Ethereum in the market. Kendrick stated that Solana's performance in recent years has shown tremendous growth potential, especially with its advantage of fast and low-cost transactions. While there is still room for growth for Ethereum, it may not necessarily outperform Solana in the next few years.

Bitcoin to reach $100,000 by the end of the year? Standard Chartered Bank: Harris's stance could be the main reason for traders' bullish sentiment