Which cryptocurrency can surpass Bitcoin in 2024?

TL;DR

• bitcoin remains the dominant cryptocurrency with widespread adoption and a market capitalization that surpasses many major corporations.
• Other cryptocurrencies like ethereum, Solana, and more are considered potential competitors, with eth looking like the top contender for a possible move.

What are the odds?

bitcoin (btc) is the undisputed leader in the cryptocurrency market, with a market capitalization of over $1.2 trillion (more than facebook, Berkshire Hathaway and other well-known companies).

It is also the most recognizable name in the digital asset sector and its progress has been more than impressive in recent years. For example, PayPal, Starbucks and AMC Theaters have adopted it as a payment method, while El Salvador made headlines in 2021, becoming the first country to to declare it legal tender.

On the other hand, the cryptocurrency industry is full of other tokens that have gained attention lately and, according to many, offer great opportunities. As such, we decided to ask ChatGPT if any of them can outperform btc this year.

The popular ai-powered chatbot called ethereum (eth) above suitor for such development. It reminded me about its transition from proof-of-work to proof-of-stake consensus mechanism (known as The fusion), stating that this change leads to better scalability and lower power consumption. These benefits can result in wider use in decentralized applications and, eventually, a rising price, ChatGPT concluded.

Solana (SUN) Also added to the list of assets that have the potential to change btc this year. “Known for its high performance and fast transaction speeds, Solana continues to attract a significant number of decentralized applications, especially in decentralized finance (DeFi) and non-fungible tokens (nft), which could translate into substantial price movements,” assumed the chatbot. .

Other leading cryptocurrencies that may oppose btc's dominance include Binance Coin (BNB), Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), and more.

The possibilities of XRP

Ripple's native token, currently the seventh largest in the entire sector with a market capitalization of almost $29 billion, also has the potential to make substantial progress this year. However, this possibility depends on numerous essential factors, such as the result of the lawsuit v. United States Securities and Exchange Commission (SEC).

The legal battle between both parties began three and a half years ago and recently entered its trial phase. Ripple won three partial court victories last year and, according to some industry participants, a decisive victory could trigger a massive bull run for XRP.

ChatGPT agreed with that thesis, estimating that a win for the company could lead to a new XRP quote on multiple exchanges, possibly increasing its price through greater accessibility and renewed investor confidence.

However, investing btc remains “highly speculative” and will depend on other elements, including positive market sentiment, wider adoption, vital partnerships, and others, ChatGPT concluded.

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