Alex Krueger, an experienced market commentator and partner at Asgard Markets, argued that altcoins like Ethereum and Solana are the trades to take if Donald Trump wins.
busy In the podcast “Bits and Bips”, the popular economist pointed out that “Trump Trading” is not Bitcoin, but altcoins. He believes Solana and Ethereum will outperform the first child of cryptocurrencies, Bitcoin, if the Republican candidate wins the November election.
Solana, Ethereum to grow under Trump administration
The general consensus in the market is that cryptocurrencies will fare better under Trump than under Democratic candidate Kamala Harris. Securities company Bernstein predicted If Trump, a crypto advocate, wins, Bitcoin will trade at $90,000, and if Harris wins, it will trade at $30,000.
With that established, Krueger believes that a Trump victory will allow altcoins to outpace Bitcoin's progress. He said he would rather bet on Solana and Ethereum than the largest crypto assets by market capitalization.
Notably, the duo performs differently in the current market scenario after Bitcoin rose to $69,000 in a short period of time. For context, Bitcoin has outperformed Ethereum and the ETH/BTC pair has hit an all-time high. 42-month low of 0.03772.
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Additionally, Bitcoin has increased by 5.10% over the past month, while Ether has fallen by 4.62%.
However, Solana mirrors Krueger's claims and significantly outperforms Bitcoin. The fifth-largest crypto asset has outperformed Bitcoin's monthly performance by a factor of three, with its recent surge above $170.
It is worth mentioning that Jeff Kendrick, head of digital asset research at Standard Chartered, has shared relevant claims with Asgard partners. market experts predicted If Trump wins, Solana and Ethereum will grow faster than Bitcoin.
Kendrick estimated that Solana would return 5x, Ethereum 4x, and Bitcoin 2x. In particular, he expects approval of the Solana Spot ETF under the Trump administration is likely, fueling a 5x bullish uptrend in Solana assets.
Krueger says Solana will reverse Ethereum's market cap
Meanwhile, Krueger recently claimed that Solana will reverse Ethereum’s market cap in the near future. With another Bits and Vips episodehe said he is bullish on the SOL/ETH pair in the long term.
The market expert also pointed out that Solana has all the necessary ingredients to overtake Ethereum and believes in its potential. He said Solana “has nothing to prove” but “has everything it takes to make it happen.”
Notably, Krueger is not the first to choose Solana over Ethereum. Van Eck, a multi-billion dollar asset management company said A September report said Solana was outperforming the second-largest crypto asset, with the “Ethereum killer” estimated to have reached half of its market capitalization.
For context, half of Ethereum's current market cap is $151 billion, up 75% from Solana's $86 billion. Remarkably, a rally of this magnitude would push Solana to $300 per coin.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
