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- 1 For the uninitiated, Goldman Sachs is a renowned investment bank and financial services company.
- 2 One of its former executives Raoul Pal shared his views on Solana and its future prospects.
- 3 Besides being an ex-employee of Goldman Sachs, Raoul Pal is the co-founder and CEO of Real Vision.
Former Goldman Sachs executive Raoul Pal is no stranger to the crypto world. He is largely known as the CEO and co-founder of Real Vision, a financial media platform. Moreover, he’s the publisher of Global Macro Investor, a newsletter. The periodical provides assessable and credible information for the crypto community.
He is an advisor to the world’s largest hedge fund, GLG Partners. With all the expertise and experience, Pal is a name that every crypto investor trusts. This makes his suggestions highly worthy for the market participants. Now, his views on Solana have reaffirmed investors’ belief in this network. It has strengthened their confidence and attracted new people to the protocol as well.
What Raoul Says About Solana?
In a recent interview, Raoul said that Solana reminded him of Ethereum during 2018 and 2019. Between this period, the latter went through a long stint of bearish trends. Everyone knows what happened post that period. Ethereum emerged even stronger and is the most adaptable network now.
The Real Vision founder said that SOL is his second-biggest crypto investment. He is very confident that it would triumph just the way ETH did. Pal said that he’s noticing lots of activity in the ecosystem. He also stated that he feels confident about its founder Anatoly Yakovenko too. According to Pal, Yakovenko has proved himself as a great leader in this space.
Moreover, Pal seemed to have assessed the protocol on many fronts. He evaluated the developer activity, the on-chain activity, and the probabilistic outcome too. However, he refrained from declaring himself right or wrong. He asserted that he’s hugely interested in Solana. As per Pal’s understanding of Macro investment in crypto, SOL gets benefitted from the technology.
Everything Investors Should Know About Solana
Solana utilizes a Proof-of-Stake mechanism to power its smart contracts. Launched in 2020, the blockchain has its native token called SOL. Anatoly Yakovenko and Raj Gokal were the pioneers of this protocol. Since the launch, the protocol faced some backlash from the crypto community. The platform even faced a class-action lawsuit for it.
But the fears were assuaged gradually as the network proved its worth. At press time, its market cap is $62 Billion. In its whitepaper, Solana was described as an alternative to Ethereum. The developers created this blockchain to support decentralized apps right after the launch. The network sold tokens worth $314 Million.
Despite the performance in the markets, Solana faced a number of outages. In the year 2022, the network suffered due to the collapse of FTX. The protocol did an astounding recovery in 2023 along with the surge in crypto markets. Its market capitalization increased by $7 Billion.
Conclusion
The Solana blockchain certainly shows plenty of positive prospects to investors. Even with little hiccups, the network is growing exponentially. It is bringing the best prospects to the fore. According to Raoul Pal, it is a promising token that will eke out plenty of profits for investors.
Saurav Bhattacharjee is in charge of the Broadcast development team of The Coin Republic.
He has been covering the Metaverse and NFT niche for the past 2 years.
With stellar interviews on his portfolio like Nicehash, Paxful, WallstreetWolvesNFT, Bitholla, Totemfi, EOS.io etc. Saurav has spearheaded the NFT SUPERSTARS AWARD and successfully hosted the first award in 2021.
