Former Goldman Sachs Executive Says Two Altcoin Ecosystems Competing for ‘Layer-One Race’
Ex-Goldman Sachs executive Raoul Pal says two crypto ecosystems are in the race to be the next big layer-ones in the current digital asset market cycle.
In a new interview on Bankless, Pal says he’s been looking for what’s going to be the “Solana (SOL)” of the next bull market, or which crypto asset is going to see the same parabolic run-up and adoption wave that Solana has been seeing in the last several years.
Pal says he’s looking at two main ecosystems: Blockchains using the Move programming language, and ones using Cosmos (ATOM).
As the Real Vision CEO notes, the most well-known altcoins using the Move language are Sui (SUI) and Aptos (APT), while one of the biggest up-and-coming coins using the Cosmos SDK is Celestia (TIA).
Says Pal,
“Listening to people like Chris Burniske, Meltem Demirors, seeing what I’ve seen with stuff like the Sui Foundation, I go with the thesis that there are two ecosystems that are probably going to be in the race here. The layer-one race, the big adoption. Layer-2s are a different conversation.
I think it’s the Move protocol, that’s the Sui and Aptos. May the best man win kind of game there, because it’s different, and has a lot of different use cases. And then there’s Cosmos: Celestia and others.
Those feel like that’s the game to be played. Maybe Avalanche. It got it last cycle, but it doesn’t feel like it’s getting full-scale adoption, it’s kind of in that lower tier…”
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