Markets
Solana (SOL) to Lead New Cryptocurrency Market Expansion, According to Former Goldman Sachs Executive
Macro guru and Real Vision CEO Raoul Pal says Solana (SUN) will lead the next market expansion for digital assets.
In a new video update, the former Goldman Sachs executive it says its 94,200 YouTube subscribers that the cryptocurrency market is approaching the “banana zone,” or a long period of sustained growth.
Pal predicts that smart contract platform Solana will lift crypto out of its price doldrums and enter a new bull market phase.
“When is the banana zone? I think it’s coming, and I think Solana will lead it. As I’ve insisted to you before, it takes patience. These things don’t happen instantly, but when they do, they can change lives.”
The macro guru previously he said that the banana zone is on the horizon, as crypto assets historically tend to rise during the fourth quarter of presidential election years.
Pal also says he is bullish on SOL due to two important additions to the Solana blockchain.
“Two things that impressed me about Solana and that I really liked, other than the fact that there are a lot of developers building on top of it…
There were two big things there that really interested me [in Solana]. One of them was NFT (non-fungible token) compression, which means that NFTs can be opened up for different use cases, whether it’s ticketing, whatever, even derivatives contracts. Compressed NFTs allow for massive scaling of NFTs at a low cost.
So it was Firedancer that really helped me break through the boundaries, made me go all in on Solana, where now 90% of my crypto allocation, which is 100% of my net worth, is in Solana. [That] It may sound silly to some of you, but I think market concentration is the right way to do things when you have everything correlated.”
Firedancer, which is a third-party validation software for the Solana blockchain, aims to improve the transaction processing speed, scalability, and efficiency of the blockchain. AND slate to be released next year.
At the time of writing, SOL is trading at $137.93.
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