ChatGPT analyzes which altcoin will perform the best in late 2024 (hint: it won't be Ripple (XRP))

Summary

• ChatGPT highlighted ethereum (eth) as the top contender for a strong rally in the coming months (among altcoins).
• Surprisingly, the chatbot did not include Ripple (XRP) as one of the potential winners.

The full list

So far, 2024 has been a pretty successful year for many altcoins, whose prices have skyrocketed substantially. Despite the unstable situation in the cryptocurrency market Latelyseveral analysts believe Altcoin season could be just around the corner.

As such, we decided to ask ChatGPT which digital currencies, aside from bitcoin (btc), are most likely to thrive in the future. remaining months of the year.

The ai-powered chatbot began the prediction with a warning that a potential uptrend is “highly speculative” and depends on positive market sentiment, technological developments, the regulatory environment and other factors.

He later outlined six altcoins that could perform the best until New Year's Eve, starting with the largest in terms of market cap: ethereum (eth):

“Due to its widespread use in DeFi, nfts, and smart contracts, it remains a top contender. ethereum has the potential for a strong performance in the remaining months of 2024, but the outcome will largely depend on the interplay between technological progress, market sentiment, and macroeconomic conditions.”

The chatbot went on to mention Solana (SOL) and Polkadot (DOT). It singled out Solana for its high-speed and low-fee transactions, stating that further progress in its ecosystem could benefit the price of the native token. For its part, Polkadot focuses on interoperability between different blockchains.

“Polkadot’s unique architecture allows for different blockchains, called parachains, to run in parallel and interoperate. As more parachains go live and launch their mainnet functionalities, they could attract more developers, projects, and users to the Polkadot ecosystem, which would boost demand for DOT,” the prediction reads.

Chainlink (LINK), Cardano (ADA), and Avalanche (AVAX) are the remaining altcoins. According to ChatGPT, Cardano’s potential rise will depend primarily on the successful implementation of vital upgrades within the ecosystem.

Next up is the Chang Hard Fork, which focuses on complete decentralization and community-driven governance. It was initially established to go live on the main network on August 27. was later rescheduled by September 1st.

The missing one

It is worth mentioning that ChatGPT Did not include Ripple's XRP on its list of potential winners for the near future. The asset was worth around $0.61 on January 1, 2024, while it is currently trading at around $0.58, representing a 5% decrease year-to-date (YTD).

The price of XRP has been primarily affected by the developments surrounding the legal battle between Ripple and the US SEC.

For example, it shot up 20% in early August when Judge Torres ruled that the company must pay a fine of 125 million dollars for violating TRUE securities laws. Many industry participants interpreted the decision as a important victory for the company, considering that the fine is only a fraction of the regulator's initial request of $2 billion.

Both sides have until early October to appeal the ruling. It will be interesting to see if either of them will follow through with that move and whether it will lead to further volatility for XRP.

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