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Sujit Kumar
Oct 24, 2024
by Sujit Kumar

Ethereum and Solana Expected to Thrive if Trump Wins Election, Says Alex Kruger

ethereum and solana surge
Market strategist Alex Kruger believes that altcoins, particularly Ethereum and Solana, will outperform Bitcoin in the event of a Donald Trump victory in the upcoming U.S. presidential election. Speaking on the "Bits and Bips" podcast, Kruger suggested that the "Trump trade" is more favorable for altcoins, positioning Solana and Ethereum as the top contenders for growth under a Trump-led administration.

[embed]https://youtu.be/-ChgohERrwo?t=1569[/embed]

Altcoins vs. Bitcoin in a Trump Presidency

While many in the crypto space expect a Trump presidency to be beneficial for the market, Kruger asserts that Bitcoin might not be the primary beneficiary. He anticipates altcoins like Ethereum and Solana will see stronger growth than Bitcoin, stating that these assets are better positioned to capitalize on Trump's policies. This perspective aligns with a report from brokerage firm Bernstein, which predicts Bitcoin could rise to $90,000 if Trump wins but fall to $30,000 if Kamala Harris, the Democratic candidate, takes office.

Solana Outpaces Bitcoin and Ethereum

Currently, Solana is outpacing Bitcoin and Ethereum in terms of performance. While Bitcoin has risen by 5.10% over the past month, Ethereum has depreciated by 4.62%, and Solana has surged past both, recording a threefold performance increase. Kruger and others, like Standard Chartered’s Geoff Kendrick, predict that Solana and Ethereum could outgrow Bitcoin, with Solana poised for significant growth due to potential regulatory approval of Solana spot exchange-traded funds under Trump.

Solana’s Future: Potential to Overtake Ethereum

Kruger is also bullish on Solana’s long-term prospects. He predicts that Solana could eventually flip Ethereum's market cap, stating that Solana has "nothing to prove" and "everything it needs to succeed." This view echoes a recent report from asset manager VanEck, which also sees Solana as superior to Ethereum and predicts a significant rise in its value.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Ethereum and Solana Expected to Thrive if Trump Wins Election, Says Alex Kruger
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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