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While there is ETF excitement in Solana (SOL), which ranks 5th in CoinmarketCap's ranking of crypto currencies by market value, many analysts believe that Solana ETFs should enter the market due to its strong ecosystem and high transaction power.
At this point, the last comment came from former Goldman Sachs Manager and cryptocurrency analyst Raoul Pal.
Announcing his predictions that Solana will lead the market rally in his YouTube video, Raoul Pal shared that Solana and cryptocurrencies are approaching a long-term growth period that he calls “banana zone”.
According to the analyst, since the period he calls the banana zone is a period of long-term gains, it will push Solana's price to new peaks and move it into the top three.
At this point, Pal predicts that Solana will play a key role in taking the crypto market out of the current recession and into a new bull market phase.
“When is the banana zone?
I think it's coming, and I think Solana will lead it.
As I told you, patience is required. These things don't come instantly, but when they do, they can be life-changing.”
According to Pal, who came to the fore with his bold prediction regarding SOL and altcoins, the market value of altcoins may increase 10 times during the current market cycle.
Raoul Pal once again emphasized his optimism about SOL and stated that he allocated a significant part of his cryptocurrency portfolio to Solana.
Shortly after the SEC's spot Ethereum ETF approval, the market began searching for the next blockchain that could receive ETF approval. For this, Solana was chosen. So far, VanEck and ARK 21Shares have filed applications with the SEC for the spot Solana ETF.
*This is not investment advice.