- Solana’s significant user base expansion, surpassing 100 million monthly active addresses, underscores its potential for a fivefold increase in value by 2025.
- The upcoming U.S. presidential election could dramatically sway Solana’s price, with potential gains linked to the pro-crypto policies of candidates like Donald Trump.
Standard Chartered Bank has predicted a significant rise in Solana’s (SOL) price, potentially increasing fivefold by the end of 2025 if Donald Trump wins the upcoming US presidential election. Previously, as reported by CNF, Standard Chartered also predicted Bitcoin will reach $150,000 by year’s end with the same scenario.
However, this optimistic outlook comes amid growing user engagement on the Solana network, which recently surpassed 100 million monthly active addresses for the first time. Geoff Kendrick, the Global Head of Digital Assets Research at Standard Chartered, revealed possible market scenarios for Solana, Bitcoin, and Ethereum, depending on the election outcome.
In addition, as shared by Solana Floor in a recent tweet, currently, monthly active addresses on Solana is reported to surpass 100 million, a new all-time high.
🚨BREAKING BIG: Monthly Active Addresses on @Solana surpass 100 million, a new all-time high. pic.twitter.com/IEymMlnjZy
— SolanaFloor (@SolanaFloor) October 8, 2024
Furthermore, Kendrick believes that Trump’s pro-crypto stance could positively impact SOL, with its price potentially increasing five times. Similarly, Ethereum could see a 4x boost, while Bitcoin might triple in value under a Trump administration.
He also mentioned that the launch of a Solana ETF could further drive adoption and investment in the ecosystem. Moreover, technological advancements like the Firedancer validator client, which aims to improve Solana’s transaction speed by 100 to 400 times, could further enhance its long-term growth potential.
Alternative Scenario and Technological Growth
In contrast, if Kamala Harris wins the presidency, Bitcoin is expected to outperform Ethereum, and Ethereum to outperform Solana. Despite this, Standard Chartered remains bullish on Bitcoin, forecasting it could reach $200,000 by the end of 2025, regardless of the election outcome. Ethereum might hit $7,000 under Harris and $10,000 under Trump, while Solana may face regulatory challenges that limit its growth.
However, Solana’s long-term potential also stems from ecosystem growth and technological advancements like the Firedancer validator, which aims to increase Solana’s transactions per second (TPS) to one million. This improvement is crucial for its ambition to dominate high-throughput sectors like finance and decentralized physical infrastructure networks (DePIN).
Additionally, expansions like Jupiter Exchange’s mobile app and Layer3’s integration with Solana further support its growth. As of today, according to CoinMarketCap, Solana (SOL) despite these promising developments, has a decrease of 0.14% in the past day and 0.79% in the past week, indicating Solana’s price has been volatile, trading. See SOL price chart below.