Register to chat with like-minded investors on our interactive forums.
The cryptocurrency world is buzzing since a recent report by Geoffrey Kendrick, the Global Head of Digital Assets Research at Standard Chartered in which he makes a bold prediction. Kendrick says that Solana ($SOL) could see a huge fivefold increase by 2025, overtaking Ethereum ($ETH) and Bitcoin ($BTC) in performance if Donald Trump wins the next U.S. presidential election.
As the crypto world continues to expand, new traders and novice investors enter the market all the time. However, with so many choices these days, it can be a complex undertaking to predict which will be the next big crypto. According to crypto writer Kane Pepi, tokens like the meme coin Pepe Unchained currently show a lot of promise. Although these meme coins are priced low, they show a potential for creating significant returns.
However, after Kendrick’s report, Solana is likely to start gaining a lot more attention now too. Trump has made no secret of his ambitions to create a favorable regulatory regime for crypto investment if he wins the election so there is every indication that crypto markets could see significant gains if he wins.
Solana already stands out for its lightning-fast transactions and its innovative technology that uses a proof-of-history consensus model. It’s currently valued higher than Ethereum in certain areas, with a market cap-to-fees ratio of 250x, compared to Ethereum’s 121x.
This indicates just how many traders are already banking on Solana to break out. With the potential for it to handle 100 to 400 times more transactions in the years to come. Kendrick’s report predicts that a government led by Donald Trump could create the perfect market conditions for cryptocurrencies to explode.
If Kamala Harris becomes president, however, the situation could be very different. In this case, Standard Chartered believes Bitcoin would perform better than Ethereum, which would in turn do better than Solana. This indicates just how much politics can determine the fate of cryptocurrencies.
Solana’s technology is currently what gives it an edge over other cryptocurrencies. Unlike Bitcoin, which uses a proof-of-work consensus model, or Ethereum, which uses proof-of-stake, Solana’s proof-of-history model allows for much faster processing of transactions. This has made using it an obvious choice among investors. As a result of its game-changing technology, it’s become one of the go-to blockchains and is spearheading the world of decentralized apps (dApps) and other Web3 projects.
Solana’s speed and scalability solutions also make it better at handling high volumes of transactions. It can handle large numbers of transactions simultaneously without slowing down, another factor that makes it a favorite among developers working on decentralized finance (DeFi) platforms.
Investors are paying close attention to it, as it continues to lead the market in blockchain innovation. Whether driven by political changes or technological advancements, Solana seems to have a bright future and could be the next crypto to experience enormous growth.
Its growing ecosystem, supported by its rapid transaction speeds and low costs, has also caught the attention of large institutional investors. As a result, more funds are starting to flow into the Solana network, showing broader confidence in its long-term potential. With its expanding network of developers and users, Solana certainly has all the characteristics to be the standout cryptocurrency of the next big wave.
