Markets
Solana (SOL) Will Lead Expansion of New Crypto Market, Says Former Goldman Sachs Executive
Raoul Pal, macroeconomics guru and CEO of Real Vision, says that Solana (GROUND) will lead the next expansion of the digital asset market.
In a new video update, the former Goldman Sachs executive tell Its 94,200 YouTube subscribers suggest that the crypto market is approaching the “banana zone,” a long period of sustained growth.
Pal predicts that smart contract platform Solana will bring crypto out of its price slump and enter a new bull market phase.
“When is the banana zone coming? I think it’s coming, and I think Solana is going to lead it. As I’ve been telling you, you have to be patient. These things don’t happen instantly, but when they do, they can be life-changing.”
The macro guru before said that the banana zone is on the horizon, as crypto assets historically tend to rally during the fourth quarter of presidential election years.
Pal also says he is bullish on SOL due to two key additions to the Solana blockchain.
“There were two things that struck me about Solana that I really liked, aside from the fact that there are a lot of developers building on it…
There were two big things there that really interested me. [in Solana]. One of them was the NFT (non-fungible token) squeeze, which means NFTs can be opened up to different use cases, whether it’s ticketing, anything in between. reports, or even derivative contracts. Compressed NFTs enable massive scaling of NFTs at low cost.
Then it was Firedancer that really got me over the finish line, got me into Solana, where now 90% of my crypto allocation, which is 100% of my liquid net worth, is in Solana. [That] This may sound stupid to some of you, but I think market concentration is the right way to do things when everything is correlated.
Firedancer, which is a third-party validation software for the Solana blockchain, aims to improve the speed, scalability and efficiency of blockchain transaction processing. It is foreseen which will be launched next year.
At the time of writing, SOL is trading at $137.93.
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