Solana (SOL) Price Forecast by Former Goldman Sachs Executive

Former Goldman Sachs CEO Raul Pal shared a positive outlook for Etherium's (ETH) main competitor Solana (SOL).

During an interview with Wall Street veteran Anthony Scaramucci, Pal suggested that Solana could see a significant price increase by the end of the current market cycle, potentially exceeding $800. This forecast represents a potential gain of at least 400% from the current price.

He stated:

I think the range for me is … worst case, $800; average case, about $1,200. In the extreme case, it could reach $2,500.

Asked if Solana could surpass Ethereum in market capitalization, Pal replied:

I don’t think [that will happen]. I believe Solana will see tremendous growth and significantly narrow the gap with Ethereum.

The expert further explained that the two chains are optimized for different purposes:

Different blockchains perform different functions. Ethereum is more secure and will likely be the preferred platform for the financial industry to build on, whether through second-layer solutions or other developments, due to its solid security, battle-tested infrastructure and reputation as an innovator.

On the other hand, Solana seems better suited for retail applications and fast-moving projects…

Ethereum made its mark with decentralized finance (DeFi), and non- fungible tokens (NFTs) initially flourished there, but also migrated to Solana.

For high-value transactions, such as interbank transfers involving huge sums, Ethereum is likely to be the preferred blockchain. Solana, however, is an ideal [platform ]for processing multiple quick transactions.