Some leading altcoins are set to emerge from the “waiting room,” potentially extending the crypto rally until the first quarter of 2026, wrote former Goldman Sachs CEO Raoul Pal.
Let’s talk about the Crypto Waiting Room… many key part of the crypto ecosystem are in the waiting room ready to launch. Let’s look at a few (you will have yours too…)
Total3 — Ex- BTC and ETH…ready to launch from the waiting room. 1/ … pic.twitter.com/z96CJXtcJl
— Raoul Pal (@RaoulGMI) August 29, 2025
According to his observations, the Total3 index, which measures the market capitalization of all cryptocurrencies excluding BTC and ETH, is “ready to launch.”
The OTHER index—digital assets outside the top 10 by market capitalization—remains in “waiting” mode, the expert noted.
Pal highlighted several specific coins:
- ETH — already in rally mode;
- SOL — next to exit the “waiting room”;
- SUI — will follow Solana;
- DOGE — will “shoot up” alongside OTHER;
- XRP — in the process of “launching.”
“People need to learn patience. The path is clear, but never, ever expect a perfect outcome. Order matters,” added the former Goldman Sachs CEO.
He emphasized that the pace of changes in the key indicator of overall global liquidity will only increase, as the US, EU, China, and Japan must refinance their debts.
“This is an absurdly optimistic backdrop, along with changes in the state regulatory system, DAT, and the accumulation of government bonds, as well as Wall Street’s adoption,” Pal believes.
Analysts at Bitfinex believe the altcoin season will not begin until the approval of exchange-traded funds on cryptocurrencies with higher risk levels.