coinedition.com
Crypto influencer Altcoin Daily believes that Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Biconomy (BICO), and Avalanche (AVAX), may pump as much as 100% in 2024. This significant rally would largely be contingent on BTC’s widely anticipated pump following its halving event next year.
According to the crypto influencer, BTC’s status as a market mover among cryptocurrencies makes it likely for other mainstream tokens like ETH, ADA, and AVAX to mirror its potential rally next year. Apart from the halving event, the rising number of U.S. presidential candidates openly embracing BTC also makes the case for a considerable rally in the flagship cryptocurrency’s price next year.
Candidates like Robert Kennedy Jr. and Miami’s pro-crypto Mayor Francis Suarez have pledged support for Bitcoin and the broader crypto industry. Kennedy Jr’s political campaign accepts BTC, while Suarez has been receiving his government salary in the form of cryptocurrencies for a while now.
Altcoin Daily presented Cardano as another potential triple-digit gainer for 2024. As per data gathered by the crypto influencer, Cardano’s average daily transactions have increased for three consecutive quarters, with the latest one coming in at 57,900 transactions per day. The consistent growth may lead to a significant rally in the price of its native token ADA, which was trading at $0.29 at the time of writing.
The crypto influencer also highlighted Ethereum’s EIP 4337 upgrade, which would introduce account abstraction. This will help simplify the user interface for non-Web3 native users and increase the onboarding of new users, leading to an uptick in network activity. This is where another project called Biconomy comes in, which lets users build decentralized applications with account abstraction.
Biconomy’s utility for Ethereum would benefit associated cryptocurrencies like ETH and BICO. Lastly, Altcoin Daily highlighted the growth in Avalanche’s usage in the second quarter of 2023, arguing that the uptick could translate into a bullish case for the AVAX token.