Raoul Pal is Bullish on Solana ($SOL), Find Details Here

On Dec. 16, 2022 Raoul Pal seemed bullish over the public blockchain platform, Solana ($SOL).

Raoul Pal’s Optimistic View on ‘Solana’

Raoul Pal previously worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. At present he is the CEO of Finance and Business Video Channel, Real Vision, co-founded in 2014.

During Raoul’s Annual State of the Crypto Union Address, he stated about the Solana that “I’m really interested in Solana because I think the team is exceptional in what they’re doing. What they’re doing is building a consumer chain… Now, there are a lot of naysayers about it, it’s down 95%, it got caught out in the whole FTX thing, but I think it’s clean now because they all had to sell so now you’ve got this chain with retail adoption doing deals with Meta, Google, and all sorts of others.”

He also noted that “They’ve just done a deal with Discord as well and I expect more to come from them. I think they’ve really understood where their place is, having a store in Manhattan selling Solana merch is great and the mobile phone, who knows where that goes? But I think they’re unlocking something big.“

Recalling His Previous Statements:

In the previous month, during the “Ask Me Anything” session that streamed on YouTube channel “Real Vision Crypto,” Mr. Pal said about Solana that “I really like Solana and I understand that the chain breaks. I also understand that they are fixing it. I also understand that’s a no-no. And one of the elements was, it was concentrated in its ownership because of FTX. They are now able to liquidate it and so you’re getting rid of one of the issues.”

“Solana reminds me of Ethereum back in 2018 when it was down 97% and nobody cared. And that was a great bloody opportunity,“ he further added.

One Year Price Action of Solana

In 2021, $SOL was worth about $180 USD. However, the current price of Solana is $12.28 USD. The token is down 1.69% in the last 24 hours, with a current market cap of $4.50 Billion USD. Additionally, its 52-week low was at $11.01 and high was $204.58, as per the data sourced from CoinMarketCap.

$SOL may be another cryptocurrency that is suffering right now. Solana intended to develop a smart contract operating at the layer one level. The market downtown left the token which suffers from the price fall.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing