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 His 94,200 subscribers on YouTube indicate that the cryptocurrency market is approaching the “banana zone”, that is, a long period of sustained growth.
Pal predicts that smart contract platform Solana will pull the crypto out of its price slump and enter a new bull market phase.
“When will the banana zone arrive? I think it’s happening, and I think Solana is going to direct it. As I insisted to you, patience is required. These things don’t happen instantly, but when they do, they can be life-changing.
The macro guru previously 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 are two things that struck me about Solana that I really liked, aside from the fact that so many developers are 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 line, got me all in on Solana, where now 90% of my crypto allocation, or 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, a third-party validation software for the Solana blockchain, aims to improve the transaction processing speed, scalability and efficiency of the blockchain. foreseen which will be launched next year.
At the time of writing, SOL is trading at $137.93.
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