Raul Pel considers SOL to be the most promising cryptocurrency

Raul Pel, a former top executive at one of the largest US investment companies Goldman Sachs and a cryptocurrency supporter, believes that the value of the altcoin SOL (which suffered from the Binance-rozirvala-ugodu-pro-pokupku-ftx/">crisis of the FTX cryptocurrency exchange) is currently attractive to investors. Over the past week, Solana has lost 50% of its value, and this is taking into account the recovery of the cryptocurrency market.

According to Pel, now is a great time to buy cryptocurrency, although the investor does not deny that in the short term, the SOL $141.43 Solana -3.18% Market capitalization $65.39 billion VOL. 24 hours $0.43 billion rate may drop even further.

«I think that the most interesting opportunities arise when liquidity cycles again lead to a price drop, but hint at future gains,» the expert said.

The investor emphasizes that he does not use margin trading, so a temporary decline in cryptocurrency rates does not scare him too much. Pel said he bought ETH $3,388.58 Ethereum -1.93% Market capitalization $407.26 billion VOL. 24 hours $0.69 billion and SOL back in June and is ready to invest in other digital assets «in the near future.»

In October, InvestAnswers analysts predicted that the cryptocurrency SOL $141.43 Solana -3.18% Market capitalization $65.39 billion VOL. 24 hours $0.43 billion would grow by 825% due to the active implementation of the Solana blockchain smart contract platform. At the same time, Pehl supported Solana and said that SOL would show the highest growth once the market starts to recover.

Despite Pehl’s optimism, yesterday the Solana cryptocurrency rate fell by almost 20%, and over the previous seven days — by as much as 50%. At the time of writing, the price of SOL $141.43 Solana -3.18% Market capitalization $65.39 billion VOL. 24 hours $0.43 billion is again showing a decline — the asset is trading at $ 16.37, which is 5.05% less than the previous day.