BlockBeats News, November 9, according to The Block, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, stated that if the Republican Party successfully controls both houses of the U.S. Congress, the total global cryptocurrency market capitalization could grow by 300% over the next two years.
Currently, the Republicans have a firm grip on the Senate and the White House, while control of the House of Representatives remains uncertain. However, Kendrick believes that the likelihood of the Republican Party sweeping both houses is already significant. In this scenario, Kendrick expects favorable policies to drive the entire cryptocurrency market cap to around $10 trillion by the end of 2026 from the current $2.7 trillion. Ecosystems like crypto gaming, tokenized assets, and DeFi may benefit from the expected Trump administration policies and a more crypto-friendly regulatory stance.
Furthermore, Kendrick reiterated Standard Chartered Bank's price targets by the end of 2025, with Bitcoin at $200,000 and Ethereum at $10,000, based on the assumption of Republican majority in Congress. He also expects that digital assets with more specific use cases (such as Solana) may outperform Bitcoin and Ethereum in price performance.
