Crypto News
| Published On Jul 21, 2022 8:37 am CEST | By Peter Siu

Raoul Pal Weighs In On Solana’s Potential to Outdo Ethereum

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Real Vision CEO and Macro Guru Raoul Pal weighs in on the potential of Solana (SOL), the long proclaimed “Ethereum killer”.

According to the former Goldman Sachs executive, despite the upcoming upgrade to the Ethereum (ETH) network set for September, SOL could potentially be doing “very well” and start outperforming Ethereum. Pal explained to his almost 1 million Twitter followers:

“SOL/ETH broke the channel and has corrected. Not yet clear if its going to outperform ETH yet but if it takes out recent high, chances are it will do very well.

In last 4 weeks I built a decent long SOL (and added more ETH) but SOL is much smaller but still significant.”

Solana breaking the negative trend. Source: Raoul Pal/@RaoulGMI

When considering its pricing in dollars, SOL looks like it’s in an inverse head and shoulders formation, Pal notes, a pattern resembling a large reversal in a downtrend:

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“Definitely looks like an inverse head and shoulders on SOL…”

Inverse head and shoulders. Source: Raoul Pal/@RaoulGMI

Nevertheless, while sharing his enthusiasm for Solana, Raoul Pal put out disclaimer and said:

“I tell you this to be transparent, not to shill you anything trolls and reply guys and sure, it is probably not your favourite crypto and sure others might do better and yes, it might not work but I like it. I also might change my mind too. Is that enough bloody caveats for you?”

SOL is trading at $40.98 at time of writing, according to CoinMarketCap data,  up nearly 19%  in the last week.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.