Solana attracted attention with its performance in the crypto market this year. Especially the Solana-based meme coin wind was effective in this performance. However, SOL also lost significant ground in the recent market downturn. Despite this, macro guru and former Goldman Sachs executive Raoul Pal maintains his position in Solana. Pal announced that he invested heavily in the altcoin project.
Macro Guru: 80% of my portfolio is Solana!
cryptokoin.comAs you follow from , Raoul Pal said many times that he liked and invested in Solana. Moreover, he said this when SOL was around $20. In a statement on the Bankless YouTube channel, Pal explained that Solana’s (SOL) native token accounts for approximately four-fifths of crypto assets. Pal stated that the rest is in meme coins, digital collectibles and a digital asset-focused investment tool. In this context, Pal made the following statement:
I am 80% LEFT. All of my ETH are now NFTs (Non-Fungible Tokens), I buy high-end art NFTs. Then I have some of my portfolio in a fund of hedge funds at Exponential Age Asset Management. And I have 1% in stupid things like dogwifhat, Dogecoin and Bonk. I bought them all. But that’s 1%… just to be clear, I have 1% of my portfolio in all meme coins and everything else. I am 80% Solana.
Why is Raoul Pal betting on Solana?
The former Goldman Sachs executive also explains what convinced him to bet heavily on Solana. Macro Guru says the following about this:
The prominent chart in 2022 was the Solana/Ethereum chart. This chart led me to buy Solana and then go all in. Just like I got into Ethereum in September 2020. I did this earlier in Solana.
Altcoin bulls are now hopefully looking towards this next support
Solana has had a rocky ride recently amid a broader market downturn. However, analysts are closely monitoring a potential selling opportunity that may arise if the weak rise does not continue. Crypto analyst Maximilian_FX suggested that SOL/USDT may be ripe for a selling opportunity as it tests the downward channel near $140.00. According to the analyst, the target for this potential decline is $124.60. In this regard, the analyst says the following for the altcoin:
Overall, SOL/USDT is seeing a weak recovery in the downtrend. In this scenario, we can consider a selling opportunity as it completes the test of the downward channel around the 140.00 mark. The target for this decline is 124.60.
The opinions and predictions in the article belong to experts and analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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