Solana Breaks Out Against Ethereum; Here’s The Latest SOL Prediction

The crypto market looks great today with the most important coins trading in the green. Let’s take a look at Solana, one of Ethereum’s competitors.

Macro expert Raoul Pal is optimistic that Solana (SOL) will continue to surge as the price of the coin is surging against Ethereum (ETH).

The Real Vision CEO said that he expects more development from Solana’s ecosystem now that the smart contract platform appears to be on track to outperform Ethereum (SOL/ETH).

“The SOL/ETH chart is super interesting. SOL has been relatively quiet in recent times but this chart is getting very close to breaking out. I have a feeling that there is a lot more to come from the Solana ecosystem. I’ve been long for a year or so now.”

Pal’s comment comes after SOL briefly surged above $140. At the time of writing, the crypto asset is trading at $139.43.

SOL is currently gaining momentum against Ethereum, and now Pal says that he’s bullish on ETH against Bitcoin (ETH/BTC).

“ETH/BTC looks very good.”

He also talked about the crypto as the market shows signs of recovery following a multi-month downtrend. In a new interview, Pal explained he remains long-term bullish on the nascent asset class.

“If you think that growth is slowing and inflation will slow, you want to own equities and you want to own crypto and you’re fine… What do you own when gold’s gone nowhere?”

Recently, the co-founder and CEO of the crypto exchange BitMEX says that he’s rebalancing his portfolio in favor of Ethereum (ETH).

In a new essay, Arthur Hayes explained that unlike top blockchain Bitcoin (BTC), Ethereum is not a crypto that can be used as money, but rather an asset of the planet’s biggest decentralized network.

“Ethereum is not money, it is a commodity that powers the world’s largest decentralized computer… The Ethereum community clearly decided that ETH is a commodity used to power this computer, not a pure monetary instrument.”