Financial Guru and Real Vision CEO Raoul Pal says in his latest appearance on his Channel that he expects five altcoins to be doing exceptionally well in 2022.
Speaking with Jessica Walker, Pal predicts layer-1 altcoins and interoperable blockchains to come out this year and advises to keep an eye out on Ethereum (ETH) competitors Terra (LUNA), Avalanche (AVAX), Solana (SOL), and Polygon (MATIC), as well as cross-chain network Quant (QNT). He said:
“We’re seeing these layer-1s, stuff like Terra, Avalanche and probably Solana. I think maybe 2022 is going to be the year of interoperability, so we’re looking at Polygon, Quant, a few other things that might give us those opportunities.”
“I look at it in terms of network effects, and what networks are growing within crypto. So Ethereum’s the kind of biggest, most robust network in terms of the number of developers, the number of people investing in it. That makes that one of your base investments. Bitcoin, being the OG in the space, is another base investment.”
Expecting increased adoption from large investors like banks and wealth funds, especially coming from the Gulf nations, Dubai, Abu Dhabi, Kuwait and Saudi Arabia, the former Goldman Sachs Executive believes 2022 to be a breakthrough year for decentralized finance (DeFi), non-fungible tokens (NFTs), and social tokens.
“I do think the banks will have them, not on their balance sheets essentially, but in their trading books. I think we will see more pension funds and institutional investors and I think this year might be the year of the sovereign wealth fund.”
Comparing the Metaverse to the early days of the internet as well as cryptocurrency, Pal said that the Metaverse will gradually become popular over the next few years, not expecting a huge surge of interest in 2022 yet.
“The metaverse itself is slow adoption. People are still using Fortnite and all. The digitization is happening all around us… We are not there yet. I think it is still speculation and interest really in the early stage. But later, in five years’ time, people will start to get it and will realize “wait what was Marc Zuckerberg talking about again?””
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