The post This Layer-1 Altcoin Presents Solana-Like Opportunity, Could Be One of Fastest Horses in the Race: Raoul Pal appeared on BitcoinEthereumNews.com.

Macro guru and Real Vision CEO Raoul Pal is highlighting one smart contract-enabled blockchain token that he believes has potential. Pal tells his one million followers on the social media platform X that the native token of the layer-1 blockchain Sui (SUI) is “starting to look very interesting from a price perspective.” “…I’m looking at ALL major tokens for the next Solana-type opportunity regardless, and this [Sui] strikes me as one of them.” According to the macro guru, SUI is “showing signs of breaking out against most tokens” and is “one of the potential fastest horses in the race.” Pal says that Sui is on the verge of breaking out when paired against the native token of layer-1 blockchain Avalanche (AVAX). Source: Raoul Pal/X Against Celestia (TIA), a decentralized network focused on minimizing the cost and technical hurdles of deploying a blockchain, Pal says that SUI is also breaking out from a downtrend. Source: Raoul Pal/X When paired against Bitcoin (BTC), the macro guru says that SUI has already broken out of a downtrend. Source: Raoul Pal/X On the potential downside risks that SUI faces, the macro guru says, “Yes, there are token unlocks but the worst has passed and really the game is about demand, not supply. Supply is known, demand is the swing factor. Yes, it is a high Fully Diluted Valuation (FDV) coin and some people don’t like them. I like to find places where the current narrative is overpowered by price action.” A high FDV crypto asset has a high valuation but low initial circulating supply, suggesting the potential for significant dilution in the future. Pal is a board member of the Sui Foundation, an entity tasked with supporting and empowering builders in the Sui blockchain ecosystem. Don’t Miss a Beat – Subscribe to get email…

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Filed under: News - @ August 10, 2024 9:18 am