Raul Pal believes that “the most interesting opportunities appear when liquidity cycles drive the price down again but hint at future earnings”

Former top manager of Goldman Sachs Raul Pal expressed the opinion that at present the cost of the Solana crypto coin, which suffered from the crisis of the FTX platform, remains quite attractive. During the current week, SOL has lost about 50% of the price, but over the past 24 hours, the token has risen by 30%, according to Coinmarketcap data.

Now SOL costs a little less than $18. According to Raoul Pal, the current situation is favorable for investment in the altcoin. At the same time, the crypto enthusiast admits a fall in the price of SOL in the short term.

“I think the most interesting opportunities come when liquidity cycles bring the price down again but hint at future earnings. That’s when I increase my position,” said the former top manager of Goldman Sachs.

At the same time, Pal stated that he is not engaged in margin trading and the temporary fall of the crypto market does not really scare him. The investor announced that he purchased ETH and SOL at the beginning of last summer and is ready to invest in other assets “in the near future.”

We would like to remind our readers that earlier the Solana rate fell sharply amid the problems of the FTX project owned by Sam Bankman-Fried. This is because the Solana network is backed by Alameda Research, which is also owned by Bankman-Fried. And all the negative events, analysts say, gave rise to rumors that cast doubt on the state of balance of Alameda.

Since November 2021, Solana’s capitalization has fallen from $80 billion to $6 billion by now. Failures in the project during this year also had a negative impact.

The fall of the crypto asset affected the entire Solana ecosystem, including the Solend decentralized financial platform. There was a wave of liquidations on the platform, triggering $3.5 million in bad debts.

Analysts believe that this is not the end. According to Solana Compass, network validators within the next 24 hours can withdraw from the blockchain 50 million SOL tokens blocked as collateral to confirm transactions in an amount exceeding $940 million. This may signal a loss of confidence in the project.