BlockBeats news, on November 9, reported by The Block, Standard Chartered's Head of Global Digital Assets Research, Geoff Kendrick, stated that if the Republican Party successfully controls both chambers of the U.S. Congress, the total global cryptocurrency market cap could grow by 300% in the next two years.
Currently, the Republican Party has a firm grip on the Senate and the White House, while the control of the House of Representatives remains uncertain. However, Kendrick believes that the likelihood of the Republican Party sweeping both chambers is quite high. In this scenario, Kendrick expects favorable policies to drive the total cryptocurrency market cap from the current $2.7 trillion to around $10 trillion by the end of 2026. Sectors such as crypto gaming, tokenized assets, and DePin may benefit from the anticipated Trump administration policies and a more favorable regulatory stance towards digital assets.
Additionally, Kendrick reiterated Standard Chartered's price targets for the end of 2025, with Bitcoin priced at $200,000 and Ethereum at $10,000, based on the assumption that the Republican Party holds a majority in Congress. He also anticipates that digital assets with more specific use cases (such as Solana) may outperform Bitcoin and Ethereum in price performance.
