Solana to lead expansion of new cryptocurrency market, estimates former Goldman Sachs executive

Will Solana (SOL) lead the next digital asset market boom? This rather optimistic view was shared by macroeconomics guru and CEO of Real Vision, Raoul Pal, in a recent video.

In a magnificent development for the advancement of the cryptocurrency industry, investment firm VanEck filed a proposal to launch a spot Solana (SOL)-based exchange-traded fund (ETF) on June 27. Subsequently, asset manager 21Shares also submitted the Solana ETF application to the SEC.

It is worth noting that the growing expectation surrounding the approval of Spot Ethereum exchange-traded funds (ETFs) has shaken the cryptocurrency market, with eyes turning to Solana (SOL) as the next potential candidate for this financial innovation.

In this sense, when evaluating the latest developments, the former Goldman Sachs executive highlighted that, currently, the cryptocurrency market is approaching a zone called the “banana zone”, or, in practical terms, a long period of growth sustained.

According to the expert’s prediction, Solana will be responsible for lifting the cryptocurrency industry out of its price stagnation and, in addition, will enter a new bull market phase.

“When is the banana zone? I think it’s coming, and I think Solana will lead it. As I’ve been saying to you, patience is necessary. These things don’t come instantly, but when they do, they can change lives,” he said.

Still on the occasion, the former Goldman Sachs executive also highlighted in his recent statement his optimism regarding the Solana cryptocurrency because of two important additions to the blockchain.

“Two things that impressed me about Solana that I really liked, other than the fact that there are a lot of developers building on top of it… There were two big things that really interested me [em Solana]. One of them was NFT (non-fungible token) compression, which means that NFTs can be opened for different use cases, whether it’s ticketing, whatever, even derivatives contracts. Compressed NFTs enable massive scaling of NFTs at a low cost.

So, it was Firedancer that really made me cross the line, made me go all in on Solana, where now 90% of my crypto allocation, which is 100% of my net net worth, is in Solana. [Isso] It may be silly to some of you, but I think market concentration is the right way to do things when you have everything correlated,” he wrote

At the time of publication, Solana price is quoted at $140.86 with a 1.0% increase in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.