Former Goldman Sachs executive Raul Pal says one of Ethereum’s (ETH) top rivals offers investors a big opportunity after the price drop.
New strategy session video features macro guru To tell His 52,800 Youtube subscribers are in favor of Solana (SOL) igniting the final bull market.
Pal said that despite the impact of several blockchain outages and the collapse of the FTX crypto exchange, Solana looks strong due to its potential use cases for brands and consumers.
I really like Solana and I understand that the chain breaks. I also understand that they are fixing it. One is that ownership was centralized thanks to FTX, and now they can liquidate it, removing one of the problems.
I think Solana itself is doing something very smart. The story is what matters in cryptocurrency. For example, the story of Bitcoin, digital gold. Ethereum, the decentralized internet of Web3. So where do these other chains fit in? Well, Solana builds the story of being a consumer chain. And yes, there are others doing it too. I think FLOW is another example, but much smaller.
But on the consumer Internet, it’s people who did business with META and Google. they have a store They have a clothing line. They have a consumer sensibility. And consumer adoption, I believe, is in the use of NFTs, not cryptocurrency ownership. [non-fungible tokens] and other digital assets will only explode in the next few years. We’ve seen Nike build more things, we’ve seen Adidas. I have seen fashion brands. I’ve seen Ticketmaster.
According to Pal, Solana is now showing Ethereum-like activity, with smart contract platform prices dropping more than 90% in 2018. Solana was trading at a high of $38.74 this month before plummeting to a low of $12.21 after the FTX collapse. At the time of writing, Solana is trading at his $14.26.
Solana is a reminder that Ethereum fell 97% in 2018 and nobody cared. And it was a bloody great opportunity.
Me
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