According to famous crypto analyst Raoul Pal, this Ethereum rival, this altcoin, is a candidate to be the “next fastest horse” in the cycle. Real Vision CEO Raoul Pal thinks a smart contract platform has come to the fore in the race to compete with Ethereum (ETH). Details of the news cryptocoin.com‘in.
This is acoin Ethereum (ETH) rival
Crypto analyst Pal says in a new interview with Hedgeye CEO Keith McCullough that Solana (SOL) has “provable” network effects. He states that Solana (SOL)’s data and image are in a “perfect match” with Ethereum (ETH)’s 2017 chart. Analyst Pal says: “It’s used everywhere because it’s cheaper and faster than Ethereum (ET)… But it’s more centralized.” Solana (SOL) was trading around $210 at the time of writing.
Analyst Pal says the smart contract platforms Avalance (AVAX) and Terra (LUNA) also have demonstrable network effects, but argues that these projects are not until Solana. Avalanche (AVAX) is trading around $116 at the time of writing and is down more than 10% on the day. Terra (LUNA) is currently priced at $42.62 and is up 3.7% in the last 24 hours. Pal notes that other smart contract platforms such as Cardano (ADA) have seen positive price action with no demonstrable network effects. The former Goldman Sachs executive said Cardano (ADA)’s lack of on-chain activity shows that ADA can be expensive. ADA is trading at $1.62 at the time of writing and is down 7% on the day.
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