Markets
Solana (SOL) to lead new cryptocurrency market expansion, says former Goldman Sachs executive
Macroguru and Real Vision CEO Raoul Pal says Solana (SOL) will drive the next expansion of the digital assets market.
In a new video update, former Goldman Sachs executive tells from its 94,200 YouTube subscribers that the cryptocurrency market is approaching the “banana patch,” 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 it be the banana zone? I think it will come and I think Solana will lead it. As I said, patience is required. These things don’t happen instantly, but when they do they can be life-changing.”
The macroguru earlier 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 were two things that struck me about Solana and that I really liked, other than the fact that there are a lot of developers who build 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 large-scale, low-cost NFTs.
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] “Maybe for some of you it will be crazy, but I think market concentration is the right way to do things when everything is interrelated.”
Firedancer, which is a third-party validation software for the Solana blockchain, aims to improve the speed, scalability, and efficiency of blockchain transaction processing. AND expected which will be launched next year.
At the time of writing, SOL is trading at $137.93.
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