According to ChainCatcher, Raoul Pal, a former Goldman Sachs executive and founder of macro research firm Real Vision, said that SOL is his second largest configuration in his cryptocurrency portfolio and is likely to repeat Ethereum's dramatic recovery from the bear market to new highs a few years ago.

“It’s still my second-largest position. I really like it. It reminds me of Ethereum (ETH) in 2018-2019. I think there’s a ton of activity. I think [Solana founder Anatoly Yakovenko] has proven himself to be a better leader and thinker in the space, kind of like Vitalik [Buterin] was. Developer activity is excellent, on-chain activity is excellent. Innovation is excellent. So there’s a probability that it’s doing well,” he said.