Perplexity is an artificial intelligence (AI) model gaining the spotlight by its real-time web scanning to access up-to-date data. The AI recently appeared in a list of notable and feared competitors by OpenAI, ChatGPT’s developer, as Finbold reported.
Leveraging its capabilities, Finbold now asked Perplexity AI for the three most popular and solid cryptocurrencies, according to the web. Previously, we tested its potential by asking about the three most popular investments for Q4 2024, rendering a remarkable result.
However, our first try resulted in highly promoted small-cap coins sourced mostly from inorganic sponsored material, like BlockDAG and CYBRO. We then refined the prompt, asking Perplexity AI to avoid these pieces and only gather data from non-paid organic posts.
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As a result, Perplexity Online named Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as the three most organically popular crypto. The tool named Forbes, USA Today, and Bankrate as the main sources used for this analysis.
Bitcoin (BTC) is Perplexity AI’s most popular crypto in Q4 2024
First, and unsurprisingly, Bitcoin features as Perplexity AI’s most popular crypto starting 2024’s fourth quarter. The cryptocurrency is the leading cryptocurrency by market capitalization, dominating all other cryptocurrencies by over 57% in nominal value.
According to the artificial intelligence, Bitcoin is “often referred to as the ‘granddaddy’ of cryptocurrencies.” The “digital gold” narrative contributes to its popularity as a store of value, and high trading volumes indicate robust liquidity.
Moreover, Perplexity Online mentioned the U.S. Securities and Exchange Commission (SEC) approval of BTC-based exchange-traded funds (ETFs). On that note, October 7 marked this week’s start with record inflow to the Bitcoin spot ETFs, as WhalePanda reported. In total, the ETFs acquired a net positive of $235.2 million worth of BTC this Monday.
Ethereum (ETH)
Ethereum appears as the second most popular crypto for Q4 2024 while also having the second-largest market cap. Notably, Perplexity AI mentioned Ethereum’s ecosystem and capabilities as a primary driver of ETH as a “universal means of payment.”
“Ethereum is a comprehensive crypto ecosystem that enables the execution of smart contracts and supports a wide range of decentralized applications, making it a universal means of payment.”
– Perplexity Online AI
Furthermore, recent ETH-based ETFs’ approval helped increase Ethereum’s popularity and liquidity to the point that “other blockchains cannot match.” This is an interesting perspective considering the surge of Ethereum rivals in the market, like the one Finbold reported about.
The long-term growth potential and stability as an investment asset are other characteristics that Perplexity mentioned.
Solana (SOL) and a growing popularity
Finally, Solana is the third most popular crypto mentioned for this year’s last quarter. Differently from Bitcoin and Ethereum, SOL is not the third-largest cryptocurrency by market cap, making this result even more remarkable.
Solana has grown in value and share of mind over the years and is Ethereum’s toughest competitor.
“Solana’s blockchain supports dApps, smart contracts, and non-fungible tokens, and its unique hybrid proof-of-stake and proof-of-history verification system makes it cheaper and faster than Ethereum.”
– Perplexity Online AI
Perplexity AI’s sources mention a “robust recovery” despite past setbacks for the project – referring to network outages and transaction failures. According to the sources, this recovery makes SOL a promising investment for long-term investors.
Overall, Perplexity Online gathered insights from reports published by four different sources to provide this result. Yet, investors must understand that a crypto’s popularity does not necessarily mean it is solid or will remain popular.
Therefore, market participants should continuously monitor and watch this fast changing innovative landscape for new trends and solid fundamentals.
