- Standard Chartered predicts a potential 5X increase in Solana’s price by 2025, driven by network adoption and political factors.
- Solana’s rapid growth to over 100 million active addresses indicates strong user interest and adoption.
- The 2024 U.S. presidential election and a possible Solana-based ETF launch could significantly impact SOL’s value.
Standard Chartered has anticipated the Solana ($SOL) token price to increase substantially; the firm expects it to increase five times before 2025. This forecast, calculated on several components, is made when the crypto market changes in the rate of fluctuations. Political factors may influence Solana’s value while marketers can impact the token’s price mainly boosted by an upcoming U.S. election and a possible ETF.
One of the major factors contributing to this forecast is Solana’s rapid adoption rate. The network has already gained more than 100 million active addresses – a clear sign of growing demand. This growth in user base reflects, therefore, an increasing demand for Solana’s blockchain which provides tremendous transactions.
Political Factors in Play with Potential ETF Launch
The forecast is not solely reliant on market trends Another major study suggests that a change of power in the White House in May 2024 might bring the price of Solana back down to its average price in October of $30. If Trump is elected next year, SC warns that there may be increased interest in risk assets such as crypto currencies.
This could translate to increased bets on other blockchain projects, thus increasing the value prospect that Solana brings.The next major event which seems possible is the release of a new Solana-based Exchange-Traded Fund or ETF.
Such a change could actually make it easier for institutions to have exposure to Solana without being directly invested in the asset. It seems that it would bring more capital into the Solana ecosystem should such a move be enacted, which should further boost the asset’s price.
What’s Next for Solana?
With multiple factors aligning, the next few years could be crucial for Solana’s growth.For Standard Chartered, the issue is that the favorable outcome depends on the politico-technological-materialization circumstances that are necessary for Solana. Whether or not these factors will converge as has been predicted is yet to be seen but certainly the options for growth are apparent.
The post Standard Chartered’s Bold $SOL Forecast: 5X Rise Hinges on These Key Developments appeared first on Crypto News Land.
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