The CEO of Real Vision told his 918,400 Twitter followers that the smart contract platform Solana appears to be on track to outperform the leading altcoin Ethereum (SOL/ETH), and he expects further development in the Solana ecosystem.
"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 #Solana Ive been long for a year or so now."
Raoul Pal's comment comes after Solana (SOL) rallied above $140 yesterday after falling below $80 in March. Solana has dropped 0.89 percent in the last 24 hours. Currently, the cryptocurrency is trading at $138.43. The last 24-hour trading volume of SOL was at $3,388,290,662.
While SOL is gaining momentum against Ethereum, Raoul Pal says that ETH is bullish against Bitcoin (ETH/BTC).
Ethereum price is down 0.32% in the last 24 hours. The last 24-hour trading volume of ETH is $ 17,207,067,924, and ETH is currently trading at $ 3,494.08. Pal also shares his view on crypto as the market shows signs of recovery after a multi-month downtrend. Pal said in a recent interview that it has a long-term bullish trend in the emerging cryptocurrency class.
“If you think growth is slowing and inflation is going to slow, you want to own stocks and you want to own crypto and that's fine… What do you have when gold isn't going anywhere? I'm still 100 percent cryptocurrencies because I think it's the biggest secular trend of all time. As a global macro investor, I "I'm long in the dollar. I'm starting to buy stocks and long positions in cryptocurrencies, and I'm trying to pick the top in the bond market."