Ex-Goldman Sachs Executive Raoul Pal Previews Altcoins Post ETH MergeSep 20, 2022
According to the article in The Daily Hodl, Raoul Pal, former co-head of hedge fund sales in equities and equity derivatives at Goldman Sachs in Europe, based in London is previewing what type of altcoins could outperform the second-largest crypto asset by market after the ETH merge.
Pal posted the following on Twitter.
“My hunch is that when we all wake up tomorrow we will realize that the change to PoS is very positive over time for ETH.
But then people will again realize that there is still a need for cheaper and faster chains and that is where the marginal money will flow.
As these layer-1s are earlier in their network adoption curve, so will generally outperform in a bull market.”
Some of the leading layer-1 blockchains include Solana, Polkadot, Cardano, Cosmos, Avalanche, and Binance Chain according to Chainalysis.
Pal, the now CEO & Co-Founder of Real Vision Group & Global Macro Investor says, the Ethereum merge will trigger a bullish cycle in DeFi and increase the growth of other products in cryptocurrency.
“The establishing of a benchmark yield for Web3 via ETH will also sow the seeds of another huge boom in DeFi, along with rapid growth in structured products and derivatives…”