Macro guru Raoul Pal says that he’s taking a bet on an altcoin that he thinks could outrun Solana (SOL) in the current crypto market cycle.
In a new interview with Kevin Follonier on the When Shift Happens podcast, the former Goldman Sachs executive says that Solana and its ecosystem look extremely healthy, and likely a “relatively safe” place to park capital for the bull run in digital assets.
However, Pal says layer-1 blockchain Sui (SUI) is showing signs that it may be ready to outrun SOL.
“I’m sure [Solana] will do absolutely fine, I see nothing but success going on in that chain and positive vibes. The question is, is whether the ‘next chosen one’ outperforms it so significantly that you’re forced to take that trade, which is much riskier. So it’s not the bet that I would ask people to do full size.
For me, it’s SUI, and it’s not because I’m on the foundation, but it’s because – I could’ve been talking about this forever because I was on the foundation but I didn’t. I waited till I saw the confirmation price action, which is this general outperformance started versus Solana, ETH, Bitcoin, and then every single token started breaking out.
At that point, I felt comfortable saying, ‘Listen, this may be the chosen one.'”
Sui is built using the Move programming language, which was originally created by tech giant Meta for its now-defunct crypto project. With Sui’s history and experienced developers, Pal says that he was convinced to get behind the project under the belief that if anything was going to have a chance of succeeding, it would be SUI.
At time of writing, SUI is trading at $3.84, up nearly 100% this month.
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The post ‘Next Chosen One’ Altcoin Could Significantly Outperform Solana (SOL), According to Macro Guru Raoul Pal appeared first on The Daily Hodl.
