dailyhodl.com
Macro expert Raoul Pal is optimistic that Solana (SOL) will continue to surge as the price of the high-performance blockchain ramps up against Ethereum (ETH).
The Real Vision CEO tells his 918,400 Twitter followers that he expects more development from Solana’s ecosystem now that the smart contract platform appears to be on track to outperform Ethereum (SOL/ETH).
“The SOL/ETH chart is super interesting. SOL has been relatively quiet in recent times but this chart is getting very close to breaking out. I have a feeling that there is a lot more to come from the Solana ecosystem. I’ve been long for a year or so now.”
Pal’s comment comes after SOL briefly surged above $140 yesterday after plunging to a low of less than $80 in March. At time of writing, the crypto asset is trading at $138.43.
While SOL gains momentum against Ethereum, Pal says that he’s bullish on ETH against Bitcoin (ETH/BTC).
“ETH/BTC looks very good.”
The macro guru also shares his outlook on crypto as the market shows signs of recovery following a multi-month downtrend. In a new interview, Pal says he remains long-term bullish on the nascent asset class.
“If you think that growth is slowing and inflation will slow, you want to own equities and you want to own crypto and you’re fine… What do you own when gold’s gone nowhere?
I’m still 100% crypto because I think that’s the biggest secular trend of all time. On a global macro investor level, I am long dollars. I am starting to buy exponential age equities and long crypto and trying to pick the top in the bond market.”