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.
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