Raul Pal: Donald Trump’s victory will trigger Ethereum’s growth

Raul Pal, CEO of Real Vision, believes that Donald Trump’s victory in the US presidential election could help the Ethereum network ETH $3,869.34 Bridged Ether (StarkGate) -1.97% Market capitalization $0.34 billion VOL. 24 hours $1.74 billion outpace bitcoin BTC $104,365.40 Bitcoin -1.97% Market capitalization $2.07 trillion VOL. 24 hours $3.45 billion in terms of practical application in traditional finance.

Pal noted that with a more liberal regulatory policy in the US, Ethereum could become the main platform for financial institutions developing new services and applications, as this network has proven to be a reliable blockchain.

According to Pal, ethereum has the largest share of applications in decentralized finance (DeFi), and if Trump fulfills his promises to develop the crypto market, the profitability of the blockchain ecosystem will increase significantly. At the same time, he noted that Ethereum’s competitors are other promising blockchains, such as Solana SOL $217.79 Solana -2.56% Market capitalization $104.36 billion VOL. 24 hours $1 billion and Sui, which attract users and projects due to low fees.

Earlier, Pal advised investors to avoid cryptocurrencies such as XRP $2.47 XRP -5.04% Market capitalization $141.28 billion VOL. 24 hours $1.46 billion and ADA $1.02 Cardano -4.50% Market capitalization $36.63 billion VOL. 24 hours $0.24 billion , urging them to focus on new digital assets with greater growth potential.

As a reminder, the flagship crypto asset has once again updated ATH. Such a rapid growth of bitcoin has led to the growth of other digital assets from the top 10 by capitalization.