Former Goldman Sachs executive Raoul Pal said that Solana (SOL) is like Ethereum during the bear market of 2018 and 2019. Pal said in an interview that SOL is his second largest cryptocurrency investment portfolio allocation and believes that it is likely to repeat the dramatic recovery from the bear market to new highs that Ethereum experienced a few years ago.

"I think Solana founder Anatoly Yakovenko has proven himself to be one of the better leaders and thinkers in this field, a bit like the Vitalik (Buterin) model. I think developer activity and on-chain activity are performing well. Innovation is great. So, there is a probability that it will perform well. This does not mean that I am right or wrong, but I am still interested in Solana."

According to Pal, cryptocurrency is the largest macro setup in history, as he believes that this asset class will directly benefit from the rapid development of technology and the devaluation of fiat currency.