Raoul Pal Says One Smart Contract Platform Could Challenge Ethereum

Raoul Pal, the founder and CEO of Real Vision, believes that there is one particular smart contract platform that could rise up to be the real competitor with Ethereum (ETH).

In an interview with Hedgeye CEO Keith McCullough, Pal said that Solana (SOL) has “provable” network effects. The macro guru also points out that SOL’s chart is mimicking ETH’s 2017 chart perfectly.

“It’s being used all over the place because it’s cheaper and faster than Ethereum… But it’s more centralized.”

At the time of writing SOL trades at $219, with 1.6% gains on a weekly chart.

According to the Real Vision CEO, there are two smart contract platforms ,Avalance (AVAX) and Terra (LUNA), which also have provable network effects, but he believes that these two are behind Solana, as of now.

At the time of writing AVAX trades at $119 with 24% gains on a weekly chart. LUNA on the other hand is trades at $41 with 3% loss on a weekly chart.

Pal also talks about Cardano that few months ago introduced smart contracts. Its native token ADA in the past has seen positive price action without provable network effects. According to the market analyst Cardano’s lack of on-chain activity might hint that ADA is overpriced.

At the time of writing ADA trades at $1.68 with 8.8% loss on a weekly chart.