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Facing the turmoil of the largest cryptocurrency exchange, Binance, and recent rocky charts that have seen most crypto assets experience a cutback on their gains, investors are now left wondering what is next on the horizon.
With the fear on the rise, most of the top 100 altcoins have retraced in the past week. Recently, many have lost a significant portion of their November gains. In light of this, investors are looking for potential opportunities amidst the fear, uncertainty, and doubt (FUD) affecting the market.
The next pick in the line is Ethereum (ETH), extending its positive momentum from the preceding weeks and successfully surpassing the critical resistance zone.
Given its capability to deploy decentralized applications, ChatGPT notes, “it has shown impressive growth since its inception. Its rivalry with Bitcoin and its substantial market capitalization makes it a key cryptocurrency to watch.”
Ethereum has recently surpassed a resistance range between $1,982 and $2,044. Notably, 1.67 million crypto wallets acquired 38.73 million ETH, allowing it to aim at more significant gains soon.
On November 25, during an interview with Defiant in Turkey, Ethereum co-founder Vitalik Buterin discussed the need to enhance Ethereum’s staking process for improved mining and staking pools, aiming to increase platform decentralization in response to challenges posed by data availability in off-chain systems, which highlights the developers’ commitment towards continuous improvement of this digital asset.
Despite Changpeng Zhao’s departure, Binance (BNB) is still a leading cryptocurrency exchange. Consequently, Binance Coin is AI’s third pick for the next month’s purchase.
ChatGPT states:
“Originating from the world’s largest crypto exchange, Binance, BNB has experienced remarkable growth since moving to the Binance Chain. Its growth rate and market capitalization make it a notable cryptocurrency.”
Quick response to legal troubles is highlighted in the appointment of Richard Teng, who swiftly announced the commitment to Binance’s core values of customer protection and constant improvement of its platform.
Tether (USDT), the leading stablecoin by market cap, is commonly utilized by crypto traders for seamless transfers between cryptocurrencies and converting investments to or from fiat currencies. Its value is pegged to the U.S. dollar, which is a cause for it being a fourth pick to buy by ChatGPT.
On Tether, ChatGPT commented:
“Tether (USDT): As a stablecoin pegged to the USD, Tether offers a less volatile option in the crypto market. Its stability in a generally volatile market makes it an interesting option to consider.”
Recent news that Tether and its affiliated crypto exchange Bitfinex have chosen to no longer oppose a Freedom of Information Law (FOIL) request initiated by journalists indicates a positive sign after the accusations over the lack of transparency regarding the verifiability of its claimed fiat reserve.
Boasting low transaction costs and quick scaling, Solana (SOL) earned AI’s fifth-place pick for the next month’s purchase.
A recent analysis by CoinEX Global, posted on November 24, highlights and explains the main reasons behind the strong SOL performance in the previous period. The surge in SOL and related asset prices attracted increased capital inflow into the Solana-based protocols ecosystem, which, coupled with the strong performance of its projects (dePIN, DeFi), paved the ground for future solid performances.
