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.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
