Raoul Pal Names Sui as Top Contender in Blockchain Consolidation
Financial expert Raoul Pal believes that Sui is one of the top contenders to emerge as a winner in the smart contract market. In an interview, he stated that only a handful of blockchains will dominate the industry, and Sui has what it takes to be among them.
Pal argues that just like cloud computing and programming languages, where three to five leaders capture most of the market share, the same will happen in the blockchain space. He thinks Ethereum is already leading this pack, holding about 70% of the stablecoin market, over 70% of DeFi, and nearly all of the high-end NFT market.
Pal used a valuation test to estimate how much value would disappear if the network were switched off. According to him, this figure is above $1 trillion, exceeding Ethereum's current market value. He also pointed out that Solana won the speed and cost race after Ethereum's congested 2021 NFT boom.
Pal believes Sui has three key features that set it apart: programmable transaction blocks, zero-fee stablecoin transfers, and privacy and quantum readiness. He rejected criticism that Sui earns little in fees, saying high fees signal an inefficient chain.