Raoul Pal, a former Goldman Sachs executive, recently discussed why he is optimistic about various cryptocurrencies, and in specifically, why he is bullish on Cardano ($ADA), Solana ($SOL), and XRP, all of which he owns.
Pal made his remarks regarding Cardano, Solana, and XRP during an interview with crypto researcher and influencer Ben Armstrong also known as “BitBoy Crypto” on social media channels on August 31.
Pal said, Charles Hoskinson has appeared on Real Vision a few times. The project appeals to him. He thinks it’s a fascinating concept. More network adoption is desperately needed. So, it’s still in the early stages according to him. The cost is increasing, It’s working fine, there’s a sizable community behind it, so that’s one side of the network covered he adds.
He further says that, Cardano needs to see more use cases outside the Ethopia case, which has gotten a lot of attention. He says that he owns some tokens and is waiting to see if it starts to garner a lot of attention, with people constructing things on it. Adressing the price action, he says, Maybe it’s not the best performer this cycle, but if it makes it through and continues to gain traction, it’ll definitely do extremely well.
About Solana he says, It’s the ETH of this cycle. He recalls that each of the last shots, you know, was the one that made a huge deal because of the pedigree of everyone involved. Furthering the bullish stand, he says, adoption is moving at such a breakneck pace. It’s growing at a quicker rate than ETH was at that time in the cycle. The amount of applications received.
He further adds that Solana now employs around 300 workers. This is unfolding at a rate that none of us can comprehend. This cycle appears to be heading to Solana he says.
Pal says Isn’t XRP a fantastic risk-reward opportunity? Every lawsuit every single one has resulted in a fine, a slap on the wrist, because everyone has cleared up after the event anyhow. Hence, he believes it will be a smack on the wrist that could pass for security. On either side, there will be no acknowledgment of guilt. There will be a fine to pay. After that, XRP is free to operate. What’s intriguing about XRP is that it has a wide range of applications he adds.