dailyhodl.com
Real Vision chief executive Raoul Pal thinks one smart contract platform stands out in the race to compete with Ethereum (ETH).
Pal says in a new interview with Hedgeye CEO Keith McCullough that Solana (SOL) has “provable” network effects. He notes that SOL’s chart is a “perfect match” against ETH’s 2017 chart.
“It’s being used all over the place because it’s cheaper and faster than Ethereum… But it’s more centralized.”
SOL is trading at $223.52 at time of writing and is up more than 4% in the past day.
Pal says the smart contract platforms Avalance (AVAX) and Terra (LUNA) also have provable network effects, though he argues that those projects aren’t as far along as Solana.
AVAX is trading at $128.84 at time of writing and is down more than 6% on the day. LUNA is currently priced at $42.62 and is up 3.7% in the past 24 hours.
Pal notes that other smart contract platforms like Cardano (ADA) have seen positive price action without provable network effects. The former Goldman Sachs executive says Cardano’s lack of on-chain activity indicates ADA could be overpriced.
ADA is trading at $1.78 at time of writing and is up 0.39% on the day.