The popular AI chatbot named several altcoins that could outperform BTC in 2024. These include AVAX coin and SOL. Here are the details…
Cryptocurrency comment from artificial intelligence
Bitcoin’s start to 2024 has been quite impressive, not only in terms of price movements but also in terms of global adoption following the approval of nearly a dozen spot BTC ETFs in the US. With the fourth halving scheduled to occur in about two months, the primary cryptocurrency is expected to have a very positive year, with some predictions pointing to a price tag of up to $150,000, which would mean a 3x increase from that point.
However, when BTC starts trending upwards, some altcoins will also move higher. After asking for ChatGPT’s opinion, I turned to one of its main competitors, Perplexity, to see another perspective on the best performing altcoins coming from an AI chatbot.
ETH, SOL, AVAX coin and more
Perplexity has specifically selected six altcoins that could have a more impressive 2024. The first is ETH, the largest altcoin, which actually had a quieter 2023 with a modest 83% increase. However, since the blockchain behind it is still the most used in terms of DeFi, NFTs, and other parts of the crypto-asset industry, the AI chatbot predicted that this could push the native token higher this year.
In addition, the Ethereum ecosystem is awaiting further updates and there are numerous layer 2 networks aiming to make transactions faster while reducing transaction costs. The rest of the list included Solana (SOL), Avalanche (AVAX), Cardano (ADA), Chainlink (LINK) and Polkadot (DOT). SOL has had a big 2023, at least as the best-performing cryptocurrency among large-cap cryptocurrencies.
Coins targeting the Ethereum market attract attention
Solana has become a true competitor to Ethereum and is now home to many DeFi and NFT projects as well as viral meme coins. However, the network is still experiencing some issues that do not seem to affect SOL’s price. Avalanche, Cardano and Polkadot are also targeting Ethereum’s market share, while Chainlink, a decentralized oracle network, has signed a number of impressive partnerships and entered the growing RWA world in the past year.
Its native token recently rose above $20, reaching its highest level in recent years. This could be a signal of upcoming price increases. “These altcoins are known for their various characteristics, such as dominating the DeFi ecosystem, moving to more scalable algorithms, high throughput, high transaction speeds, and vibrant ecosystems of DeFi and NFTs,” Perplexity said.
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