Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has expressed optimism about the future of cryptocurrencies in the financial sector. The renowned financial expert has predicted that the crypto industry would experience massive adoption rates, surpassing even that of the internet.
Expert Discusses Global Crypto Adoption Appearing on a recent podcast with the Bankless YouTube channel, Pal shed light on the rate at which cryptocurrencies are being adopted across the globe. He delved into an earlier comment he made in an X (formerly Twitter post on April 2, where he declared that cryptocurrency adoption was growing two times faster than the internet.
The crypto expert revealed that when calculating the adoption rate of cryptocurrencies against the internet, the amount of wallet addresses and IP addresses, respectively, should be taken into consideration.
He disclosed that statistics revealed that there were about 550 million people who use cryptocurrencies. However Pal disagrees, labeling this estimate as a “midcurve” and clarifying that the figure should represent “active wallet addresses” rather than crypto users.
Delving into the vast use cases of cryptocurrencies, Pal asserted that the entire financial system would ultimately transition to “tokenized rails.” However, this adoption process will require time as the crypto sector evolves and becomes more secure.
The Real Vision CEO has predicted that crypto adoption could hit one billion users by the end of 2025. Additionally, Pal foresees the overall market capitalization of the industry to surge to $12 trillion during the bull cycle and $100 trillion by the end of the 3032 cycle.
The Adoption Effect On Cryptocurrencies During the podcast, Pal suggested that the adoption rate of cryptocurrencies was an indicator of how bullish a digital asset would become.
Using Solana (SOL) as a reference, Pal revealed that the cryptocurrency had witnessed exponential gains to new all-time highs during the previous crypto bull run in 2021. This unexpected increase is attributed to the rapid adoption of Solana by investors and users in the crypto space.
Furthermore, Pal acknowledged the uncertainty surrounding which altcoins would lead the upcoming bull run, emphasizing that the cryptocurrencies with the highest adoption rates were the most promising contenders.
He disclosed that cryptocurrencies such as Sui (SUI), Aptos (APT) and Cosmos (ATOM) were potential candidates for an altcoin bull run. Additionally, Pal disclosed that the crypto market was currently undergoing a transition into its summer period, during which Bitcoin is expected to hit new highs before its overall dominance diminishes, signaling the onset of the altcoin season.
Total market cap at $2.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Money, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.