The former executive of American banking giant Goldman Sachs talked about an altcoin project. Accordingly, economist Raoul Pal predicts that an Ethereum competitor will make big gains in the future. The expert even bets that this altcoin will be able to surpass all its competitors in the future bull run.
“These altcoins will make big gains in the future”
Raoul Pal, who attended a session recently, shared bullish prospects for Ethereum rivals. According to him, Ethereum rivals will outperform all other altcoin projects in the new bull run. Pal also stated that the increased adoption will contribute to the performance increases of these projects. As we reported on Kriptokoin.com, Raoul Pal is a macroeconomics expert and former Goldman Sachs executive. Pal said:
“There is an adoption boost and these altcoins are benefiting from it. Many adoption movements are spreading to Ethereum and its competitors. Solana, Avalanche and a host of other protocols benefit from this. Therefore, we will witness ETH take responsibility in the future. Then, when we start a new bull market, we will see these competitors start to come. That’s how things usually work anyway.”
“Best altcoin Solana among those I mentioned”
Pal shared several predictions about competing layer-1 blockchains. Accordingly, he predicts Ethereum killers will perform as ETH did in late 2020 through 2021. When asked about the most successful of these layer-1 altcoins, he points to Solana, which stands out with its fast transactions. According to him, Solana will outperform other layer-1 altcoin projects like Avalanche, Cardano and Ethereum in the future bull run. Pal said:
“I expect many of these layer-1 altcoin assets to be like ETH in the new recovery. These will eventually become very large dominant blockchains. But which ones? I really do not know. I’d only really bet on Solana. However, it is possible for any of these to rise. I’ve dedicated more to SOL than others, but I’m watching and waiting to see the others as well.”
“SOL gains strength against ETH”
Former Goldman Sachs executive also examines the SOL/ETH pair. According to him, the pair has been signaling for a potential bullish run on the Solana side lately. Using the DeMark indicator to strengthen his thesis, Pal underlines that SOL has gained value in many time frames in the SOL/ETH trading pair. For those who don’t know, the DeMark indicator detects an asset’s directional trend by comparing the latest maximum and minimum prices with the price of the previous period. Pal said:
“I also had a technically perfect monthly, daily, weekly DeMark setup on SOL/ETH. Now, I’m not ready to bet that I’ll be converting my ETHs to Solana. Still, there are some signs.”
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