Crypto Market Cap Could Balloon to $10T by 2026 Under Trump Administration: Standard Chartered
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A Republican sweep could see total crypto market cap grow to $10 trillion by the end of 2026, the bank said.
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Positive changes are expected for crypto markets early in the new administration, the report said
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Standard Chartered said we have now entered a crypto summer.
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A Republican sweep would allow the new government to push through positive policies for the digital assets sector, which could lead to total crypto market cap swelling to $10 trillion by the end of 2026, investment bank Standard Chartered (STAN) said in a research report on Friday.
Standard Chartered said it sees a number of tailwinds for crypto markets early in the new administration including regulatory changes and a shuffle of positions at the Securities and Exchange Commission (SEC) that could lead to a more benign stance on digital assets.
The bank said these positive developments could see total crypto market cap grow fourfold from $2.5 trillion currently to $10 trillion by the end of 2026.
“The rising tide should lift all digital assets; those most exposed to end-use cases are set to benefit most,” wrote Geoff Kendrick, head of digital assets research at Standard Chartered.
The new administration may also consider the formation of a bitcoin reserve, but this is viewed as a “low-probability but high-impact event,” the report said.
“With a Republican sweep in the U.S. election now looking likely, we believe we have entered the crypto summer,” Kendrick wrote.
