- Geoff Kendrick from Standard Chartered anticipates a 400-fold increase for Solana if Donald Trump secures the presidency.
- The digital assets specialist believes that a spot SOL ETF would gain approval under Trump’s administration.
- However, he contends that Solana must significantly enhance its throughput to achieve such growth.
- Harris is leading FiveThirtyEight’s national polls, while Trump has the edge on Polymarket’s decentralized prediction platform.
The dynamics of the U.S. presidential election seem to be favoring Vice President Kamala Harris. Nevertheless, Standard Chartered suggests that Solana (SOL) may stand to gain the most among prominent cryptocurrencies if former President Donald Trump wins his bid to return to the Oval Office.
Solana’s Rise If Trump Prevails
Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, posits that Solana’s value could escalate by 100 to 400 times if Trump prevails in the November 2024 elections. His optimistic projection is based on the Republican candidate’s more favorable outlook on cryptocurrency compared to his Democratic opponent.
Furthermore, Kendrick indicated that under Trump’s administration, the likelihood of a Solana exchange-traded fund (ETF) being approved would be “greater.” However, he emphasized that SOL needs to markedly enhance its network throughput to accommodate such a surge in value, suggesting the adoption of Firedancer as a potential solution.
Firedancer is an open-source validator client developed to boost Solana’s efficiency, integrity, and decentralization. It can be implemented using C/C++, aiming to improve network performance significantly. Its implementation could enable SOL to handle up to one million transactions per second.
Additionally, for Solana to achieve such remarkable growth, it is crucial to secure a strong foothold across various sectors, including finance, consumer services, and decentralized physical infrastructure (DePIN).
Current Leaders in Polls
As per FiveThirtyEight’s data from October 8, Harris is ahead in the national polls with 48.5%, compared to Trump’s 45.9%. This estimation accounts for the 95th-percentile discrepancy between the daily polling averages and the published polls.
On the other hand, Trump is in the lead on Polymarket’s decentralized prediction market, with 53.4% of wagers favoring him and 46.1% betting on Harris.
As of Wednesday afternoon (UTC), the total amount wagered in the platform’s “Presidential Election Winner 2024” category exceeded an impressive $1.56 billion, marking the highest stake amount recorded in Polymarket to date.
