- Raoul Pal, Real Vision CEO and former Goldman Sachs executive, forecasts Solana (SOL) will outperform Ethereum (ETH) after observing the SOL/ETH pair breakout from a descending channel.
- Pal believes that the broader crypto markets, driven by global adoption and fiat currency debasement, are poised to outperform other asset classes, with the anticipated approval of a Bitcoin ETF further boosting the markets.
As the crypto landscape becomes increasingly complex, one name stands out among the latest predictions. Raoul Pal, the former Goldman Sachs executive who now helms Real Vision, anticipates Solana (SOL) will outshine its smart contract competitor Ethereum (ETH).
Solana’s Potential Surge Over Ethereum
In a recent blog post, Pal reveals his keen interest in the Solana versus Ethereum (SOL/ETH) pair. Drawing on his extensive industry experience, he anticipates a surge for Solana following the pair’s breakout from a downward trend. In his own words,
“SOL is up over 30% on the month (+150% year-to-date!) and has broken the downtrend versus ETH. This is something that we’ve been expecting for a while now and we think this trend will continue higher.”
At the time of writing, Solana trades at $23.25, a 5% drop in the last 24 hours.
As the global macro expert, Pal applies a holistic lens to his predictions. In a recent strategy session, he asserted his belief that the broader crypto markets are poised to outshine other asset classes in the current cycle. This outlook stems from wider global adoption and persistent fiat currency debasement.
Building on these views, Pal foresees a Bitcoin (BTC) exchange-traded fund (ETF) approval as a significant boost to the crypto markets. He explains,
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“[Crypto] outperforms everything in this type of cycle. Like technology, it is driven by the debasement of central banks, of the fiat currency market, particularly the world’s reserve currency of the dollar, but all of them together really.”
Highlighting the ongoing global trend towards crypto adoption, Pal notes,
“The adoption trend of crypto is huge. It is now 421 million wallets. It keeps going up every single year. Even last year in a bear market, it grew 40%. So in the coming years, we will probably get that number up to a billion pretty fast.”
Further lending weight to the crypto adoption trend, Pal points to the expected onset of central bank digital currencies and the financial world’s move towards blockchain, factors which align with his core thesis. Anticipating the approval of an ETF as a catalyst for mainstream adoption, Pal concludes,
“That will open the floodgates. I think prices will be rising into that anyway, my forecast forwards to much higher prices anyway.”
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