Raoul Pal, founder and CEO of Real Vision, outlines four altcoin projects that he believes have major upside long-term growth potential.
In a tweet to his 711,000 Twitter followers, Pal claims that altcoins targeting unique social and virtual use cases are currently the most undervalued on the market.
He points to the non-fungible token (NFT) platform Rally (RLY), tokenized sports exchange Chiliz (CHZ), and gaming metaverses The Sandbox (SAND) and Decentraland (MANA) as four of the most early and promising protocols in all of the crypto space.
He’s also a big believer in the NFT-focused company Dapper Labs.
“I obviously also own BTC and a whole bunch of other crypto (layers 1’s, DeFi and interoperability stuff). I think the most undervalued plays for the future (not now) are Rally, Chiliz, Dapper Labs, The Sandbox, Decentraland and other metaverse and social tokens…
I’m not shilling them as they are big-picture future plays. I am not looking for quick gains in those strategic, undervalued bets so don’t follow me in expecting a pump.”
According to Pal, Facebook’s recent rebranding to Meta is a fresh sign that a virtual transformation is underway that will introduce the masses to blockchain technology.
“Make no mistake – Meta/Facebook with Diem and the metaverse experience is a way to onboard billions of people into this world of distributed ledger technology…
This is what adoption looks like – it maybe not what you want, but it is what it is. Again, we have the choice to participate or not. This is very different to the physical world. Your opinion of Meta is just a matter of where you hang out.”
Pal also says now he holds “irresponsibly” long positions in Ethereum (ETH), which recently hit a new all-time high, that dwarf all of his other personal investments.
“Just so we are clear – I am more than irresponsibly long ETH right now. I now have leverage but via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more).
My view horizon for this part of the trade is 6 to 9 months.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/solarseven/Andy Chipus/Sensvector/pikepicture