Seasoned market pundit and Asgard Market’s partner Alex Kruger has asserted that altcoins like Ethereum and Solana are the trades to take in the case of a Donald Trump win.
Speaking at the Bits and Bips podcast, the popular economist noted that the “Trump trade” is not Bitcoin but altcoins. He sees Solana and Ethereum outperforming crypto’s firstborn, Bitcoin, if the Republican nominee wins the November election.
Solana, Ethereum to Thrive Under Trump
Popular market consensus believes that crypto would do better under Trump than with Democratic candidate Kamala Harris. Brokerage firm Bernstein predicted that Bitcoin would trade at $90,000 if pro-crypto Trump wins and $30,000 if Harris emerges victorious.
With that established, Kruger believes that altcoins will outpace Bitcoin’s strides with Trump’s win. He noted that he would prefer to bet on Solana and Ethereum over the largest crypto asset by market cap.
Notably, the duo has performed differently in the current market scenario following Bitcoin’s short-lived push to $69,000. For context, Bitcoin has outperformed Ethereum, with the ETH/BTC pair hitting a 42-month low of 0.03772.
Also, Bitcoin has grown 5.10% in the past month, while Ether has performed conversely with a 4.62% depreciation.
However, Solana has mirrored Kruger’s assertions, outgrowing Bitcoin substantially. The fifth-largest crypto asset has outperformed Bitcoin’s monthly performance by three folds, with its latest surge above $170.
It bears mentioning that Standard Chartered’s head of digital asset research, Geoff Kendrick, shares a correlating assertion with the Asgard partner. The market expert predicted Solana and Ethereum would outgrow Bitcoin if Trump wins.
Kendrick speculated a fivefold surge in Solana, a fourfold uptick in Ethereum, and twofold returns for Bitcoin. Notably, he expects the likely approval of the Solana spot exchange-traded funds under Trump to catalyze the asset’s fivefold bullish uptrend.
Kruger Says Solana Will Flip Ethereum’s Market Cap
Meanwhile, Kruger recently asserted that Solana would flip Ethereum’s market cap in the near future. In another Bits and Bips episode, he noted that he is long-term bullish on the SOL/ETH pair.
The market expert also noted that Solana has all it takes to overtake Ethereum, and he believes in its feasibility. He said that Solana has “nothing to prove“ and has “everything they need to make it happen.”
Notably, Kruger is not the first to pick Solana over Ethereum. Multi-billion asset manager VanEck stated in a September report that Solana was superior to the second-largest crypto asset and sees the “Ethereum killer” reaching half its market cap.
For context, half of Ethereum’s current market cap is $151 billion, a 75% uptick from Solana’s $86 billion. Notably, a surge of that magnitude will push Solana to $300 per coin.
