Pal also lists three other smart contract platforms, Avalanche (AVAX), Terra (LUNA) and Polkadot (DOT), among his favorite altcoins. Pal, a vocal Ethereum bull, tells his 795,200 Twitter followers that ETH competitor and smart contract platform Solana (SOL) is one of his favorite altcoins. Solana’s native token SOL, the fifth-ranked crypto asset by market cap, is trading at $200.10 at time of writing, down nearly 7% on the day.
Despite listing four smart contract platforms, Pal agrees with a theory laid out by Chris Dixon, a general partner at Andreessen Horowitz, stating that “ETH killers” are a myth.
AVAX, the 11th-ranked crypto asset by market cap, is trading at $110.06 at time of writing, down nearly 9% on the day. In the same time period, LUNA is down 2.36%, trading at $41.81 at time of writing. DOT, the 9th-ranked crypto asset by market cap, is trading at $35.83 at time of writing, down 11.69% on the day.
Dixon believes demand for blockchains will outpace supply.
Another great thread by @cdixon 100% agree. The pie is getting bigger and slices may vary in size and will increase in number over time, but most are getting bigger too.. https://t.co/xRMau2aLbD
— Raoul Pal (@RaoulGMI) November 21, 2021
Pal also thinks the Ethereum/Bitcoin (ETH/BTC) chart is currently the “most important chart” in the crypto markets.
Source: Raoul Pal/Twitter
“The ETH/BTC chart is in my opinion the most important chart in digital asset markets right now. A break higher will lead to more risk-seeking into year-end. BTC will go higher too.”
Ethereum is trading at $4,125.15, or about 0.076 BTC, at time of writing.
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