Standard Chartered predicts that the price of Solana (SOL) could grow fivefold if Donald Trump wins the upcoming U.S. presidential election. The prediction stems from the growth of Solana’s user base, which recently surpassed 100 million monthly active addresses for the first time.
Elections and Solana (SOL)
In a discussion with the bank’s global head of digital asset research, Geoff Kendrick, Solana was discussed, Bitcoin at $62,301, and Ethereum at $2,451 based on the outcome of the 2024 U.S. presidential election. If Trump is positive about cryptocurrencies during his presidency. According to him, in this case, the price could rise fivefold to four figures.
Furthermore, he predicts that Ethereum’s value could quadruple, while Bitcoin could triple. Of course, these are just predictions, not certainties about the future.
Kamala Harris Victory Scenarios
Kendrick described an alternative scenario that would play out if Kamala Harris wins the election. In this scenario, he expects Bitcoin to outperform Ethereum, which in turn would outperform Solana.
Standard Chartered Bank’s bullish stance on Bitcoin is not affected by the US election, predicting that BTC could reach $200,000 by the end of 2025. Ethereum could rise to $7,000 under a Harris presidency and $10,000 under a Trump presidency. Solana may also struggle to perform as expected due to the strict regulatory framework.
Jupiter and Layer3 Scaling
Recent developments in the Solana ecosystem support the network’s growth trend. Jupiter Exchange launched the Jupiter mobile app as a decentralized DEX aggregator, improving trading performance on the Solana network. The app allows new users to purchase SOL using a variety of payment methods and manage transactions using the “Auto Mode” feature.
The Layer3 blockchain platform aims to enhance the user experience on Solana by scaling its network. Layer3 has over 300,000 active users on the Ethereum Virtual Machine (EVM) network and seeks to further grow through its partnership with the Solana protocol.
A recent technical improvement to the Solana network is the Firedancer validator client, which is expected to increase transaction speeds by 100 to 400 times. This enhancement supports Solana’s preference for sectors that require high transaction volumes, such as finance, consumer services, and decentralized physical infrastructure networks (DePIN).
The growth momentum of the Solana ecosystem is driven by the increase in the number of users and improvements in technology. These developments may help Solana gain a wider user base and strengthen its market position in the long term.
