Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Raoul Pal Says Solana and Terra Following Ethereum’s Explosive 2016 Rally – Here’s Why

by Daily Hodl Staff
November 8, 2021
in Altcoins, Ethereum

Macro guru Raoul Pal says smart contract platform Solana (SOL) and stablecoin-focused blockchain payment system Terra (LUNA) could be following the same parabolic price trajectory of Ethereum in 2016.

In a new interview on Real Vision, Pal says that because of the cyclical nature of network effects, Ethereum is currently mirroring Bitcoin’s 2017 bull cycle.

“…Once I start discovering Metcalfe’s law, I start realizing that Ethereum is exactly following Bitcoin’s last cycle. And it’s like, oh, my God, this is spooky. I mean, I’ve got actually on my Bloomberg in real time, and it almost works, tick for tick. I’ve never seen anything like it. And that gives a cycle projection for Ethereum of $20,000. And again, I actually think it’s going to overshoot.”

Source: GMI/Bloomberg

Network effects is the idea that the more users and participants a system has, the more valuable a good or service it is.

The former Goldman Sachs executive says that he then applied the same logic to Solana and Terra, projects that were launched after the 2017 bull market. According to Pal, both SOL and LUNA are following Ethereum’s first bull cycle.

“But I thought, well, if my logic about Metcalfe’s Law is right, then these layer-1s that we’ll talk about later should also fit. And bizarrely, here’s the chart of Solana against Ethereum in the last cycle, when Ethereum was the darling, the new breakthrough. It’s exactly following. And the same is true of Terra. It’s exactly following.”

Source: GMI/Bloomberg

The macro investor also says that even Bitcoin is following its own previous cycles of adoption, and expects BTC to perform the rest of its bull cycle similar to its early rallies in 2013. Pal says these network effects are the main driver of the crypto markets for the time being.

“So as these different protocols get adoption, they’re all behaving in the same way. Well, Bitcoin is repeating its early cycle of massive adoption. So, for me this is super interesting. And again, I don’t expect these to be perfect but they’re contextualizing network adoption, which is I think everything in this space for the time being, until we start moving into some of the other things.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/Mia Stendal

Submit a Press Release

Industry Announcements

  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
  • Sneakmart Announces a Collaboration With StockX on Its First Metakicks Drop
    May 18, 2022
  • Everyrealm and Storyverse Partner To Create Interactive Stories for NFT Communities
    May 18, 2022
  • DoraHacks Raises $20 Million Led by FTX Ventures and Liberty City Ventures To Scale Its Global Web 3.0 Startup Platform
    May 18, 2022
  • BinaryX Unveils CyberArena – A New Play-To-Earn Experience
    May 18, 2022
  • Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
    May 17, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$30,018.00
$30,018.00
2.5%
Ethereum
$1,996.98
$1,996.98
0.84%
Cardano
$0.527607
$0.527607
0.7%
XRP
$0.418372
$0.418372
0.57%
Dogecoin
$0.086639
$0.086639
0.52%

Spotlight

  • Crypto Capitalist Arthur Hayes Forecasts Dramatic New Lows for Bitcoin (BTC) and Ethereum (ETH)
    May 14, 2022
  • Chainlink (LINK), VeChain (VET) and One More Altcoin Nearing Potential Trend Reversals, Says Top Crypto Analyst
    May 17, 2022
  • Top Crypto Analyst Predicts Strong Bitcoin Bounce, Says BTC Rally Will Run Beyond Expectations
    May 15, 2022
  • Crypto Exchange Coinbase Unveils New DApp Wallet and Browser for Ethereum (ETH) Network
    May 18, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl