Former CEO of Goldman Sachs, Raoul Pal Nickname four altcoins follow fast acceptance curves just like BTC and ETH.
He said the Solana Smart Contract Platform (SOL) adoption rate mirrors that of Ethereum almost perfectly.
“Ethereum is moving in terms of price and pricing structure exactly what Bitcoin did in 2017. Bitcoin moves in line with Bitcoin 2013, in pricing structure, but not in price.
I bet Solana moved with Ethereum in 2017. And anyone who was in the market at the time would have seen the ETH rocket, and look … it’s the exact same chart.
Solana moves with Ethereum, Ethereum moves with Bitcoin … like magic in network adoption. ”
Pal went on to name three other smart contract platforms that he believes are seeing widespread network adoption.
“The other three altcoins that are in a phase of rapid growth and adoption are Terra, Avalanche, and Polkadot. I think everyone will do well this cycle. And like Ethereum, they will all fall a lot after that. Next, wait and see. ”
Terra (LUNA), Avalanche (AVAX) and Polkadot (DOT) are trading at $ 38.27, $ 55.40 and $ 35.09, respectively, at press time, according to CoinGecko.
Pal explains that he likes these platforms because the developers build so many projects on them.
“It’s strangely consistent. I never thought this would happen because you see everyone online, it’s like “my project, my project”. That is very wonderful “.
When asked about the importance of blockchain decentralization from an investment perspective, Pal said:
“It’s the risk curve. Because of this, Bitcoin is on the lower end of the risk. Bitcoin is the fundamental asset because it is the most decentralized asset. It’s not rocket science (something that isn’t difficult to do).
But if you go further, cryptocurrencies become less decentralized, so they pose a higher risk. That is not to say that they do not matter, and they do not necessarily become currency reserves. They have a harder to assess risk element that Bitcoin doesn’t have. ”
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
According to Dailyhodl