This Layer-1 Altcoin Presents Solana-Like Opportunity, Could Be One of Fastest Horses in the Race: Raoul Pal
Macro guru and Actual Imaginative and prescient CEO Raoul Pal is highlighting one sensible contract-enabled blockchain token that he believes has potential.
Pal tells his a 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.”
Based on 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 towards the native token of layer-1 blockchain Avalanche (AVAX).
In opposition to Celestia (TIA), a decentralized community targeted on minimizing the price and technical hurdles of deploying a blockchain, Pal says that SUI can be breaking out from a downtrend.
When paired towards Bitcoin (BTC), the macro guru says that SUI has already damaged out of a downtrend.
On the potential draw back dangers that SUI faces, the macro guru says,
“Sure, there are token unlocks however the worst has handed and actually the sport is about demand, not provide. Provide is understood, demand is the swing issue.
Sure, it’s a excessive Absolutely Diluted Valuation (FDV) coin and a few individuals don’t like them. I like to seek out locations the place the present narrative is overpowered by worth motion.”
A excessive FDV crypto asset has a excessive valuation however low preliminary circulating provide, suggesting the potential for vital dilution in the future.
Pal is a board member of the Sui Basis, an entity tasked with supporting and empowering builders in the Sui blockchain ecosystem.
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