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Home»Altcoins»An Altcoin Will Overtake Ethereum and Solana This Cycle, According to Macro Guru Raoul Pal
Altcoins

An Altcoin Will Overtake Ethereum and Solana This Cycle, According to Macro Guru Raoul Pal

November 9, 2024No Comments3 Mins Read
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Macro guru and Real Vision CEO Raoul Pal says Solana (SOL) is likely to outperform Ethereum (ETH) this cycle, but an altcoin could potentially do even better.

According to Pal, a top 20 altcoin by market cap and a relatively new entrant to the layer 1 sector is likely to outperform not only Solana and Ethereum, but also Bitcoin (BTC).

“My view is that ETH starts to outperform BTC for the rest of the cycle, but underperforms SOL and SOL underperforms SUI, because SUI is in the ultimate performance phase of adoption – early > proven .”

Sui (SUI) is trading at $2.32 at the time of writing, up about 17% over the past week.

Bitcoin, Ethereum, and Solana are trading at $76,304, $2,949, and $205, respectively, up 9%, 16%, and 21%, respectively, over the past week.

Pal says Ethereum’s outperformance against Bitcoin will be partly due to the crypto cycle entering the risk-taking phase. The macro guru further claims that the crypto industry will likely benefit from a friendlier regulatory environment following the election of Donald Trump as the 47th US president.

“You see, now that regulation is likely to improve significantly for crypto, it allows for two key potential developments:

1. Utility tokens in decentralized finance (DeFi) to begin delivering the yield or reward of the underlying protocol that creates network value. Most of it is on ETH.

2. Traditional finance (TradFi) will likely start creating broader use cases, but on the most tested and adopted channel. Think of ETH (and layer 2s) as the Microsoft of web3. No one gets fired for using it.

These two things alone can significantly revalue ETH and offset current retail adoption on other chains, and ETH returns will attract more institutions. The returns make it possible to build other financial products such as guaranteed funds. With better regulation, this activity will explode.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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