Standard Chartered Predicts Growth for Major Cryptocurrencies

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Standard Chartered Predicts Growth for Major Cryptocurrencies

Standard Chartered Predicts Growth for Bitcoin, Ethereum, and Solana

Standard Chartered's Global Head of Digital Assets Research, Geoff Kendrick, predicts a potential increase in the value of Bitcoin, Ethereum, and Solana, regardless of the outcome of the U.S. election.

Bitcoin: Could triple in value under a Trump administration and reach $200,000 by the end of 2025.

Could quadruple in value under a Trump administration and reach $7,000 by 2025.

Could increase fivefold, but this would require specific conditions, such as the introduction of a Solana ETF under Trump and significant improvements to the network's throughput.

Trump Administration: Kendrick believes a Trump win could be more supportive of the Solana ecosystem and lead to a greater increase in its value compared to a Harris administration.

Kendrick emphasizes the need for a significant increase in Solana's network throughput to achieve his valuation forecast. He highlights the role of Firedancer, a new validator client software, and Solana's dominance across multiple sectors.

Under a Harris presidency, Kendrick suggests Bitcoin could outperform Ethereum, which would then outperform Solana.

MarketVector Report: A September 2024 report by MarketVector suggested that Solana could capture 50% of Ethereum's market cap, potentially reaching $330.

The influence of Bitcoin as an institutional asset class will be explored at Benzinga's upcoming event on November 19th.