According to a recent report by Standard Chartered, Solana (SOL) could outperform Ethereum (ETH) and Bitcoin (BTC) if Donald Trump wins the 2024 Presidential elections. The financial giant anticipates SOL will rise by 400% if Trump returns to the Oval Office.
The 2024 US Presidential election will take place on Nov. 5, 2024. Standard Chartered’s report suggests a market-wide rally, given a Trump victory, especially for SOL.
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Why Will The Asset Rally If Donald Trump Wins?
Trump has been very supportive of the crypto industry. He has even enabled crypto donations for his campaigns. Standard Chartered cites Trump’s pro-business policies for a possible market rally. Analysts anticipate pro-crypto regulations if Trump returns to the White House. SOL, among others, could greatly benefit from pro-crypto regulations.
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Trump’s return to the White House could also increase interest in alternate assets, such as cryptocurrencies like SOL.
Why SOL, In Particular?
Standard Chartered has expressed a bullish outlook for other assets apart from Solana (SOL). The bank has been quite bullish on Ethereum (ETH), predicting the asset to hit $8,000 in the short term and $35,000 in the long term.
SOL has been among the best-performing cryptocurrencies of the last two years. The asset fell to sub-$10 levels after the collapse of FTX in late 2022. Since its 2022 lows, SOL has made quite a recovery. Earlier this year, the asset briefly went above the $200 mark.
Changelly analysts anticipate SOL will reclaim the $200 mark in October 2025, which is about a year from now.
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Telegaon researchers are even more bullish on SOL than Changelly. The platform anticipates the asset hitting $305.16 this year. By 2025, it is predicted to hit a maximum price of $414.68, and by 2026, it will hit $506.39.
