Raul Pal, a macro expert and former Goldman Sachs executive, says one of Ethereum’s (ETH) competitors could outperform others in the next crypto bull market. .
In a recent Ask Anything session, Pal said some of Ethereum’s biggest rivals would benefit most from increased adoption of cryptocurrencies when the market finally bounces back again.
“aAdoption continues to grow, with a lot of adoption spilling out of ETH and into Solana, Avalanche, and many other protocols as well. So when ETH takes the lead, a new bull market kicks in and things generally work out that way, I think we’ll see this chain of action. “
Pal predicts that a competing Layer 1 will work as Ethereum did in 2020 and late 2021, placing its chips in Solana (SOL) as the most notable.
I think a lot of the layers this time around will be like ETH from last cycle. They’re going to end up being a very big dominant chain. but it could be one of these Solana, I’m more assigned to it than some others, but I’ll wait to see them.
The Real Vision founder says he has his eye on Solana with the Ethereum pair (SOL/ETH) forming a potentially bullish setup according to macro guru.
He argues that the DeMark indicator, which aims to detect the direction of an asset by comparing its latest highs and lows to the price of the previous period, has flashed bullish on multiple timeframes for SOL/ETH. said that
We also had technically perfect monthly, daily, weekly and DeMark setups with Solana/ETH crosses. I have it, but I’ve observed it say, “Let’s see if that works.” People don’t really expect it. I’m not saying that Solana will be bigger than ETH, I’m just saying, ‘Can we beat it in this cycle?’ “
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