After a price decline, Raoul Pal a former Goldman Sachs executive, says that one of Ethereum’s (ETH) major competitors presents investors with a significant opportunity.
The macro expert says to his 52,800 YouTube followers in a new strategy session video that Solana (SOL) has several factors in its favour that might spark a bull run in the future.
Pal adds that despite certain blockchain failures and the effects of the FTX crypto exchange’s collapse, Solana’s use case potential for businesses and customers makes it look robust.
“I like Solana very much and am aware that the chain breaks. And one of the factors was that its ownership was consolidated due to FTX.”
“I believe that Solana’s actions are rather brilliant. What counts with cryptocurrency is narrative. Bitcoin narrative, digital gold for example. Ethereum is Web3’s distributed Internet. Where then do these other chains fit? on the other hand, Solana has and is developing a storyline in which the consumer supply chain plays a central role. Indeed, there are a few people participating in this.
But on the consumer Internet, these are the individuals who have signed contracts with META and Google. They have shops. They have fashion lines. They have a consumer-like appearance. And I anticipate that consumer acceptance of NFTs [non-fungible tokens] and other digital assets, as opposed to cryptocurrency ownership, will skyrocket in the coming years.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.