Which cryptocurrency can surpass Bitcoin in 2024

TL;DR

Bitcoin remains the dominant cryptocurrency with widespread adoption and a market cap that exceeds many large corporations. Other cryptocurrencies such as Ethereum, Solana and more are seen as potential contenders, with ETH emerging as the top contender for a potential switch. What are the odds?

Bitcoin (BTC) is the undisputed leader of 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 recognized name in the digital assets 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 declare it legal tender.

On the other hand, the crypto 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 top BTC this year.

The popular AI-powered chatbot named Ethereum (ETH) as the top contender for this development. He recalled his transition from the proof-of-work consensus mechanism to the proof-of-stake consensus mechanism (known as The Merge), stating that this change leads to better scalability and lower power consumption. These advantages may lead to wider use in decentralized applications and ultimately to increasing price, ChatGPT concluded.

Solana (SOL) was also added to the list of assets that have the potential to turn BTC upside down this year. “Known for its high performance and fast transaction speeds, Solana continues to attract a significant number of decentralized applications, particularly in decentralized finance (DeFi) and non-fungible tokens (NFT), which could translate into substantial price movements,” took over the chatbot. .

Other leading cryptocurrencies that can challenge BTC’s dominance include Binance Coin (BNB), Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), and more.

XRP opportunities

Ripple’s native token, currently the seventh largest in the entire industry with a market capitalization of nearly $29 billion, also has its chances of making substantial progress this year. However, this possibility depends on a number of key factors, including the outcome of the lawsuit against the US Securities and Exchange Commission (SEC).

The legal battle between the two sides 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 may trigger a massive bull run for XRP.

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

However, BTC’s move remains “highly speculative” and will depend on other elements such as positive market sentiment, increased adoption, vital partnerships and others, ChatGPT concluded.

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