Solana (SOL) To Lead New Crypto Market Expansion, According to Former Goldman Sachs Executive
Macro guru and Real Vision CEO Raoul Pal says that Solana (SOL) will lead the next market expansion for digital assets.
In a new video update, the former Goldman Sachs executive tells his 94,200 YouTube subscribers that the crypto market is approaching the “banana zone,” or a lengthy period of sustained growth.
Pal predicts that the smart contract platform Solana will lead crypto out of its price doldrums and into a new bull market phase.
“When is the banana zone? I think it’s coming, and I think Solana is going to lead it. As I’ve urged with you, patience is required. These things don’t come instantaneously but when they come, 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 Q4 of presidential election years.
Pal also says he’s bullish on SOL due to two key additions to the Solana blockchain.
“Two are things that struck me about Solana that I really liked, outside of the fact that there’s a lot of developers building on it…
There were two big things there that really got me interested [in Solana]. One was NFT (non-fungible token) compression, which means NFTs can be opened up for different use cases, whether it’s ticketing, whatever it is, even derivatives contracts. Compressed NFTs allow massive scale of NFTs at a low cost.
Then, it was Firedancer that got me really across the line, made me all in on Solana, where now 90% of my crypto allocation, which is 100% of my liquid net worth, is in Solana. [That] may be foolish to some of you but I think that market concentration is the right way of doing things when you’ve got everything correlated.”
Firedancer, which is a third-party validation software for the Solana blockchain, aims to improve the blockchain’s transaction processing speed, scalability and efficiency. It is slated to be launched sometime next year.
At time of writing, SOL is trading at $137.93.
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