Standard Chartered Predicts SOL to Skyrocket Fivefold Under Trump Government

Crypto prices react to various factors, including the rise and fall of global financial markets, geopolitics, and national politics. Based on SOL's current price trends and the possible impact of a Trump victory on the economy, Standard Chartered Global Head of Digital Assets Research Geoff Kendrick expects a Solana pump.

Multinational bank Standard Chartered has predicted the impact of the upcoming presidential elections on major cryptocurrencies, projecting a Solana (SOL) rally if Donald Trump wins and a Bitcoin (BTC) surge if Kamala Harris clinches the victory.

Trump has repeatedly voiced support for Bitcoin and the broader cryptocurrency industry in recent months, leading many crypto enthusiasts to view him as a "pro-crypto" candidate. Several industry experts and analysts have already anticipated positive movements in the crypto market if he wins the election.

Standard Chartered now expects a Trump victory to have a significant impact on SOL, the native token of the Solana blockchain, which has become a popular chain for various crypto projects and memecoins.

$SOL to Skyrocket Fivefold Under Trump Government?

Crypto prices are influenced by various factors, including the performance of global financial markets, geopolitics, and national politics. Based on SOL's current price trends and the possible impact of a Trump victory on the economy, Standard Chartered Global Head of Digital Assets Research Geoff Kendrick predicts a Solana pump.

"In rough terms from today's prices under Trump I predict the following multiples by year-end 2025: SOL 5X, ETH (Ethereum) 4X, BTC (Bitcoin) 3X," he said in a Tuesday note to clients.

Kendrick explained that he believes a Trump government will be more supportive of SOL than a Harris administration. He further anticipates that a Solana exchange-traded fund (ETF) is more likely to be approved under Trump.

Notably, Brazil has already approved a spot SOL ETF, while the U.S. Securities and Exchange Commission (SEC) reportedly rejected Cboe's 19b-4 filings for two spot Solana ETFs in August. In comparison, Brazil has approved two such funds.

Since its launch in 2020 by the Solana Foundation, the Solana blockchain and its SOL token have gained popularity due to the chain's decentralized finance (DeFi) solutions. With very short processing times and a hybrid protocol that significantly reduces validation times, the Solana chain has attracted not just retail but also institutional traders.

How Will a Harris Admin Affect Top Crypto Coins?

While Kendrick expects a SOL uptick under a Trump administration, he said Standard Chartered expects a Bitcoin rally if Harris steps into the White House as the new President. Specifically, Kendrick projected that BTC will outperform Ether, and such a development will allow Ethereum to outperform Solana.

"In U.S. dollar terms, we anticipate Ethereum reaching the $7,000 level by the end of 2025 in a scenario where Kamala Harris is president," he said.

He noted, though, that regardless of who wins on Nov. 5, Standard Chartered anticipates BTC prices to reach up to $200,000 by the end of 2025.

Where Do Trump and Harris Stand on Crypto?

While the Republican presidential candidate has recently included crypto in the industries he has vowed to support, the Democratic presidential nominee has only talked about digital assets and blockchain technology once.

Whereas the Republican Party's 2024 platform puts crypto in pole position among three tech segments GOP candidates promise to move forward – the platform also specifically said Republicans will defend "the right to mine Bitcoin," the Harris-Tim Walz economic plan mentions digital assets once.

As of writing, SOL is trading at around $143, ETH prices are at $2,400, and BTC is trading above $62,400, CoinGecko data shows.

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