Banking giant Standard Chartered has forecasted a potential spike in solana (SOL) if Donald Trump wins the 2024 U.S. presidential election. Geoffrey Kendrick, the bank’s digital assets chief, expressed an optimistic outlook on Solana in a research note this week, predicting the cryptocurrency could see a 400% increase.

In an email to CNBC, Kendrick shared his projections for 2025 under a Trump administration, expecting solana to jump by 400%, ether to climb by 300%, and bitcoin to rise by 200%. This would translate to SOL reaching over $700, ETH surpassing $9,650, and BTC topping $185,000 by year’s end. He pointed out that Solana’s fast transaction speed and capacity for decentralized applications make it a strong candidate in a pro-crypto climate. Kendrick also mentioned that a solana exchange-traded fund (ETF) would be more likely under Trump than under Kamala Harris. He described:

Broadly speaking, we think a Trump administration would be more supportive of the broader digital assets ecosystem than a Harris administration.

Conversely, Kendrick predicts that a Harris presidency would lead to bitcoin outperforming both ether and solana in 2025. He projects ether could hit approximately $7,000 under Harris, compared to over $9,650 if Trump were elected. “Similar arguments can be made for the relative outlook for ETH versus BTC under a Trump versus Harris outcome in the US,” Kendrick remarked.

He also emphasized that solana’s current valuation seems high compared to ether, which would require a dramatic increase in throughput. Kendrick wrote:

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.