Cryptocurrency expert Raoul Pal, formerly of Goldman Sachs, has forecasted that Solana (SOL) will spearhead the forthcoming market rally. Positioned 5th on CoinmarketCap by market value, Solana has garnered attention for its robust ecosystem and high transaction capabilities, prompting calls for Solana ETFs to enter the market.
Pal articulated his predictions in a recent YouTube video, asserting that Solana and cryptocurrencies are poised for significant long-term growth, a phase he terms the “banana zone”. He anticipates this period to propel Solana to new price highs, potentially elevating it into the top three cryptocurrencies.
Emphasizing patience, Pal suggested that the banana zone’s arrival could be transformative, hinting at substantial gains ahead for Solana and other altcoins. Notably bullish on SOL, he disclosed allocating a significant portion of his crypto portfolio to the digital asset.
Following the SEC’s approval of a spot Ethereum ETF, market focus swiftly shifted to identifying the next blockchain for similar approval. Solana emerged as a prime candidate, with applications filed by VanEck and ARK 21Shares. However, Pal’s remarks came with a disclaimer that they do not constitute investment advice.
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By Elif Azra Güven