Macro expert and former Goldman Sachs executive Raoul Pal said that a rival to ethereum (ETH) could overtake the rest in the next crypto bull run.
In a recent Ask Me Anything conference, Pal said that some of Ethereum’s biggest competitors will benefit the most from increased cryptocurrency adoption when the market finally picks up again.
“Ones Adoption continues to increase, with a lot of adoption spilling out of ETH into Solana, Avalanche, and a bunch of other protocols. So I think we’re going to see ETH lead the way, and then as we start a new bull run, we’re going to see these things start to emerge, and generally that’s how things work. “
Pal predicts that between 2020 and late 2021, competing layer-1s will perform like Ethereum, and he places his chip in Solana (SOL) as the most talked about chip.
“I think a lot of these layers this time around will be like ETH in the last cycle. They will end up being very large dominant chains. Which? I don’t really know.”
The Real Vision founder also stated that he is following Solana in the Ethereum pair (SOL/ETH), which according to macro experts is forming a potentially bullish setup.
The DeMark indicator, which is designed to detect the directional trend of an asset by comparing the most recent high and low prices to the price of the previous period, flashed bullish on multiple time frames for SOL/ETH, he said.
“Technically, I also have a perfect monthly, daily, weekly DeMark setup in the Solana/ETH cross. Right now I’m not ready to bet I’ll convert my ETH to Solana, but I have some , but I’ve observed saying, ‘Let’s see if this happens’ because that’s going to be a narrative that people don’t really expect. I’m not saying Solana is going to be bigger than ETH, I’m just saying, ‘It Can you perform well in this cycle?'”
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