bitcoin's start to 2024 has been quite impressive not only in price movements but also in terms of global adoption following the approval of nearly a dozen btc spot ETFs in the US.
With the fourth halving scheduled for approximately two months, the leading cryptocurrency is expected to have a very positive year, with some predictions indicating a price as high as $150,000, which would mean a 3x increase from this point.
However, once btc starts heading north, so do some altcoins. After asking ChatGPT's opinion, we decided to turn to one of its main rivals, Perplexity, to see another point of view on the best performing altcoins coming from an ai chatbot.
eth, SOL, AVAX and more
Perplexity named six altcoins in particular that could have a more impressive 2024. The first is the largest, eth, which actually had a quieter 2023, with a more modest increase of 83%. However, as the blockchain behind it remains the most widely used in terms of DeFi, nft, and other parts of the digital asset industry, the ai chatbot predicted that this could push the native token higher this year. .
Furthermore, the ethereum ecosystem expects more upgrades and there are numerous layer 2 networks that aim to reduce transaction costs while making them faster.
Next on the list were Solana (SOL), Avalanche (AVAX), Cardano (ADA), Chainlink (LINK), and Polkadot (DOT). SOL had a huge 2023 as it became the best performer, at least among large-cap cryptocurrencies.
Solana became a true rival 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, which do not seem to affect the price of SOL.
Avalanche, Cardano and Polkadot are also targeting ethereum's market share, while Chainlink, being a decentralized oracle network, has signed numerous impressive partnerships over the last year and has entered the growing world of RWA. Its native token recently skyrocketed to a multi-year high of over $20, which could be a sign that more price increases are on the way.
“These altcoins are recognized for their various characteristics, such as dominating the DeFi ecosystem, transitioning to more scalable algorithms, high performance, fast transaction speeds, and vibrant DeFi and nft ecosystems,” Perplexity said.
Better overall? The answer is repeated
When asked what the best performing cryptocurrencies would be in 2024, ChatGPT's rival did not mention bitcoin, but actually gave the same answers: eth, SOL, DOT, LINK, ADA and AVAX.
He outlined the growing total value locked (TVL) in ecosystems like ethereum and Solana and indicated that both are expected to have a big year as they “continue to be key players in the blockchain space.”
Perplexity named AVAX as the dark horse of the altcoin race, even though it has already surpassed DOT and LINK in terms of market cap.
However, the popular ai chatbot warned that investing in cryptocurrencies is quite a risky business given its volatility and lack of proper regulations in many countries.
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