Markets
Solana (SOL) to lead new cryptocurrency market expansion, says former Goldman Sachs executive
Macroeconomics guru and Real Vision CEO Raoul Pal says Solana (SOL) will drive the next expansion of the digital assets market.
In a new video update, the former Goldman Sachs executive tells Its 94,200 YouTube subscribers say the cryptocurrency market is approaching the “banana zone,” or a long period of sustained growth.
Pal predicts that the Solana smart contract platform will lead cryptocurrencies out of the bear market and into a new bull market.
“When will the banana zone come? I think it will come, and I think Solana will lead it. As I have urged you, patience is required. These things don’t come instantly, but when they come, they can be life-changing.”
The macro guru previously She said that bananas are on the horizon as cryptocurrencies historically tend to rise during the fourth quarter of presidential election years.
Pal also says he is bullish on SOL because of two key additions to the Solana blockchain.
“There are two things that struck me about Solana and that I really liked, besides the fact that there are a lot of developers working on it…
There were two big things there that really interested me. [in Solana]. One was NFT (non-fungible token) compression, which means that NFTs can be open to different use cases, whether it’s ticketing, whatever it is, even derivative contracts. Compressed NFTs enable NFTs at scale at low cost.
Then it was Firedancer that really pushed me over the edge, making me go all in on Solana, where now 90% of my crypto allocation, which equates to 100% of my liquid net worth, is in Solana. [That] “This may sound crazy to some of you, but I think market concentration is the right way to do things when everything is correlated.”
Firedancer, a third-party validator software for the Solana blockchain, aims to improve the transaction processing speed, scalability, and efficiency of the blockchain. It is scheduled which will be launched next year.
At the time of writing, SOL stock is trading at $137.93.
Italian: https://www.youtube.com/watch?v=8kzt5IBdlQs
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