- Former Goldman Sachs executive retains strong hope in an Ethereum rival to witness a good market run soon.
- The rivalry extends beyond DeFi and NFTs sphere due to the new price movement trends.
Former Goldman Sachs executive Raoul Pal has made a shocking prediction about an altcoin that could outshine its peers in the next cryptocurrency bull run. During an ask-me-anything session, the Macro expert said the altcoin would benefit more from the increasing popularity of cryptocurrency. Pal expressed confidence that Solana would perform exceptionally whenever the market recovers fully.
The former Goldman Sachs executive explained,
As adoption keeps building, a lot of adoption spills outside of ETH into the Solana, Avalanche, and a bunch of other protocols as well. So I think we’re going to see ETH lead the charge, and then we’ll see this tail of stuff starting to come as we start a new bull market, and generally things work that way.
Emerging indications that strengthen Raoul Pal’s prediction
Furthermore, Raoul Pal submitted that Solana would likely repeat the strides of Ethereum 2020 and 2021. He added that investors should watch out for the token. Pal said that he has been monitoring Solana with its Ethereum pair (SOL/ETH), and there are signs that Solana is on the verge of a bullish run. As part of the signs for his prediction, Pal revealed how DeMark indicator is pointing bullish on numerous timeframes for SOL/ETH.
DeMark indicator is a tool that helps detect the directional movement of an asset. The tool helps to compare the recent maximum and minimum price of the asset interview to the former period price. The macro expert illustrated how Solana’s price trend indicator is similar to what ETH recorded in the last cycle. At the moment, Raoul Pal is beaming with confidence over the prosperity of Solana once the crypto winter comes to an end.
ETH is widely regarded as the second biggest cryptocurrency behind BTC. However, it’s currently facing tough competition from Solana in the DeFi and NFTs space. Nevertheless, Ethereum remains the most significant blockchain for DeFi and NFTs projects, with Solana coming second.
Read More: Solana (SOL) strongly outperforms Ethereum (ETH) in Q2 – Nansen report
Now, Solana is pushing on all fronts to close the gap on Ethereum in the aforementioned sector of the digital asset sphere. Undoubtedly, Solana is doing well in that regard, and the recent comment by Raoul Pal is another positive indicator. The gap between the two in the DeFi and NFTs sphere is also evident in the price of SOL and ETH. Attention will be on SOL after the recent comment by the expert to see how well it would fulfill the prediction.