Standard Chartered's Global Head of Digital Assets Research Geoff Kendrick predicts a potential increase in the value of Bitcoin BTC/USD, Ethereum ETH/USD and Solana SOL/USD, irrespective of who wins the U.S. election.
What Happened: Kendrick’s projections include a potential quadrupling of Ether and a tripling of Bitcoin’s value under a Trump administration. He added that a Trump win could be more supportive of the Solana ecosystem than a Harris administration.
For his Solana valuation predictions of fivefold increase to materialize, certain conditions, such as the introduction of a Solana ETF under Trump, would need to be met, The Block reported.
Kendrick also emphasized the need for a significant increase in Solana’s network throughput to achieve his valuation forecast. He highlighted the role of Firedancer, a new third-party validator client software aimed at enhancing Solana’s efficiency, and Solana’s dominance across multiple sectors, including finance, consumer services and decentralized physical infrastructure (DePIN).
However, Kendrick suggests that a Kamala Harris presidency could see Bitcoin outperform Ether, which would then outperform Solana. He predicts Ethereum could reach $7,000 by 2025 in this scenario. Regardless of the election outcome, Kendrick sees Bitcoin rising to $200,000 by 2025’s end.
Also Read: Bitcoin Dips Below $63K: What Does Technical Analysis Say?
Why It Matters: Standard Chartered predictions come in the wake of a MarketVector report from September 2024, which suggested that Solana could capture 50% of Ethereum’s market cap, potentially reaching $330.
The report highlighted Solana’s superior performance metrics and suggested that the cryptocurrency was significantly undervalued compared to Ethereum, presenting a major investment opportunity.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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