Ex-Goldman Sachs Executive Sees ‘Rocket Ship’ Solana (SOL) Chart in the Works Ahead of One Bullish Catalyst

October 31, 2023

Former Goldman Sachs executive Raoul Pal says Solana (SOL) is starting to look like a rocket ship on the charts as it gears up for big developments.

In a new interview with Scott Melker, Pal touches on Firedancer, a new validator client for the Solana chain which is being developed by trading giant Jump Crypto.

Firedancer aims to vastly improve Solana’s scalability, and push its transactions-per-second (TPS) capabilities potentially above one million TPS.

Says Pal,

“I was thinking at the time maybe it’s some sort of layer-2 blah blah blah compromise, so I went back home, I was looking at the charts, which I have been for a long time of Solana versus ETH (SOL/ETH) and Solana versus Bitcoin (SOL/BTC) and I’m like ‘this looks like a… rocket ship! What is going on here?’

I started looking in and watching the interviews with the Jump trading team who built Firedancer and realized it was a separate validator for Solana that increases the security of the entire chain itself and that yes, these speeds were right because it was being built by people who were trying to build lightspeed for high-frequency trading…

I’m like, okay, this is huge.”

At time of writing, there is no set launch date for Firedancer as of yet.

Pal has previously called for Solana to potentially repeat Ethereum’s (ETH) bull market cycle of 2021 and reiterates his stance that SOL may still be on track to do just that in an upcoming market expansion.

“To me, I’m looking at risk/rewards here, and I’m just thinking, ‘Could this be the ETH of this cycle?’ That’s not taking away from ETH, that’s not taking away from Bitocin. What we’re trying to do, if we’re in this ugly economic world, you want to try to make as many chips as possible when you can. That’s the game.”