- Solana (SOL) is looking increasingly bullish according to charts and former Goldman Sachs executive Raoul Pal, who believes a major upgrade called Firedancer could send the price rocketing higher soon.
- Firedancer is a new validator client being developed by Jump Crypto that aims to drastically improve Solana’s scalability beyond 1 million transactions per second. The team comes from high-frequency trading.
- Pal believes Solana could mimic Ethereum’s bull run in 2021 and thinks SOL offers an attractive risk-reward opportunity as a standout gainer if the economy worsens.
Solana (SOL) is looking increasingly bullish according to former Goldman Sachs executive Raoul Pal. He believes a major upgrade could send the price rocketing higher soon.
The Bullish Price Action
Pal notes that SOL/ETH and SOL/BTC look like “a rocket ship” based on the charts. He initially thought the bullishness was related to a layer-2 scaling solution. However, upon further research, he realized it was due to an upgrade called Firedancer.
— BlockNews.com (@blocknewsdotcom) November 1, 2023
NEWS: Former Goldman Sachs executive Raoul Pal is "very bullish" on Solana $SOL.
He called SOL a "rocket ship" when compared to $ETH and #Bitcoin via the @scottmelker podcast.
He highlighted Solana's Firedancer validator, stating it could allow Solana to solve the… pic.twitter.com/dIxwrKJb80
Firedancer – A Revolutionary Solana Validator
Firedancer is a new validator client being developed by Jump Crypto. It aims to drastically improve Solana’s scalability beyond 1 million transactions per second. The team behind it comes from high-frequency trading, so they are experts in speed.
Pal’s Outlook on Solana
With this in mind, Pal believes Solana could mimic Ethereum’s bull run in 2021. He thinks SOL offers an attractive risk-reward opportunity in this market. While not taking away from ETH or BTC, SOL could be the standout gainer of this cycle if the economy worsens.
