According to him, one of the promising cryptocurrencies that could follow the two main tokens on the market is the smart contract platform. Solana (SOL), which, for him, almost perfectly mirrors Ethereum. “Ethereum is exactly following, and I mean exactly Bitcoin in 2017, both in price and price structure. I bet Solana is following Ethereum in 2017. If anyone was in the market at the time, Ethereum was the rocket that took everyone by surprise, and guess what … the charts are identical, “he stated. The executive noted that the Ethereum, Solana and Bitcoin charts are practically a mirror, both in value and in adoption.
“And the prices are the same. Solana is exactly following Ethereum, Ethereum is exactly following Bitcoin … it’s as if the magic is in the adoption of this network,” he noted.
Pal also points out that, after Solana, three other altcoins, all of them platforms for building smart contracts, decentralized finance (DeFi), daaps, NFT, CBDC and other blockchain applications. For him, Terra (LUNA), Avalanche (AVAX) and Polkadot (DOT), are the cryptocurrencies that can be as successful as Bitcoin and Ethereum and not only conquer the market but help shape a new digital and decentralized society.
“The other three that are in that phase of rapid growth and rapid adoption, where you see exponential price increases more than anything else, are obviously Terra, probably Avalanche and probably Polkadot. And I think this cycle will go well for everyone. And just like Ethereum, they will all sink much later. And then, based on that, we’ll see how they develop, ”he said. Pal explained that he likes these platforms due to the number of projects that developers are developing on them.
In addition, for the investor, the more decentralized the protocol, the more possibilities it will have of increasing its adoption curve and, therefore, the greater the chances of success.. “It is a risk curve. This is why Bitcoin is at the bottom of the risk pile. Bitcoin is the fundamental asset because it is the most decentralized. It is not an exact science. But when they become less decentralized, they are higher risk assets. That doesn’t mean they don’t play a role, but they can’t necessarily play the role of being that kind of reserve asset. They have an element of risk that is more difficult to price, which Bitcoin does not have“.
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