Macro expert Raoul Pal says contrary to usual, ETH outperformed Bitcoin in the latest crypto bear market.
In a recent interview with Layah Heilpern, the CEO of Real Vision Raoul Pal said that the leading smart contract platform outperforms BTC in a time when the top cryptocurrency by market capitalization often shines.
“One of the things Bitcoiners get during a bear market: Bitcoin is the only coin that exists and everything else goes to zero.
Since the bear market, ETH has outperformed BTC and I don’t say that as an ETH maxer, I don’t care which coin is active. I’m interested in this whole space, but the point is that ETH works fine.
All are exposed during the bear market. Is Bitcoin The Most Powerful, Decentralized Network? It’s correct. But is that the only answer for all coins? Absolutely not”.
Along with BTC and ETH, Raoul Pal also has an eye on developments in the Web 3.0 space that he says will change every business model. The former Goldman Sachs Raoul Pal executive says that technology like social tokens could revolutionize the way online content creators run their businesses.
“The ability for creators to reward fans with tokens and digital assets and be able to interact with them on these platforms will drive the network to grow stronger and more vibrant. So now you are working directly for your fans.
Right now, all you get is participation. So when you look at the numbers on Twitter, YouTube, that’s all you get in return – you’re getting a piece of the ad revenue from them…
But if you are a sovereign nation and you do it that way when you have a token system, your own NFT that gives everyone access to… This model will become Web 3.0 where everyone is partially owned in their community. They are working with influencers.”
ETH is trading at $3,087 at press time while Bitcoin is trading for $41,356.