Crypto

Arcane Research 2022 Predictions: Cardano and Ripple Will Fall Out of the Top 10

Insurance, Cryptocurrency, Finance, Tech and Real Estate News

The crypto market has seen a roller-coaster ride in 2021, and Arcane Research anticipates even more exciting changes next year, 2022.

Even though this year proved to be a watershed moment for BTC, it was forced to sit on the sidelines as the incredible rally came to a halt recently. At the same time, various previously unknown cryptocurrencies, such as memecoins, sprang to prominence. Arcane Research, on the other hand, underlined the potential changes in the coming year, 2022 that could turn the tables.

Who Will Be the Biggest Winner?

In its most recent analysis, Arcane Research correctly observes that 2021 was a year of positives and negatives, but largely ups. Despite cruising through a highly tumultuous year, BTC outperformed both the stock market and gold.

Altcoins such as Binance Coin, on the other hand, unavoidably stole the show, with BNB emerging as the top performance among the three largest cryptocurrencies by market cap, with gains of over 1,300 percent. BNB wasn’t the only one who annihilated the market leader.

Ethereum greatly exceeded Bitcoin in terms of price performance, with a 455 percent increase. 2021 has been one lengthy cryptocurrency season and the year for Layer 1s, according to the crypto-analytical and research business.

However, one of Arcane’s more daring forecasts for next year is that Ripple (XRP) and Cardano (ADA) may drop out of the top ten. XRP, the third-largest cryptocurrency by market capitalization, has dropped out of first place, owing in part to the ongoing dispute between Ripple and SEC.

Related:  Scalable and Decentralized Exchange Leverages Solana for an Improved Trader Experience

Due to major enhancements, Cardano, on the other hand, has shown enormous promise. Its rise, however, came to a halt in Q4 and was generally uninspiring.

1st Layer Emergence

Layer 1 networks like Solana, Avalanche, Terra Luna, Fantom, and Harmony grew in popularity, displacing Ethereum as the undisputed DeFi leader.

According to Arcane, these networks’ outperformance will most likely persist in the coming year, and these smart contract platforms will continue to isolate users and wealth from the Ethereum ecosystem. As a result, a price increase in their respective native tokens in 2022 isn’t out of the question.

Memecoins for Dog Fights and “Stupid” Pumps

The internet is odd, but the cryptocurrency space is even stranger. Most out-of-the-box and downright strange tokens had spectacular rallies this year. While BTC continued to show huge strength, the market’s mood shifted from intense greed to dread.

As a result, investors have turned to cryptocurrencies to diversify their portfolios. Dogecoin, the original memecoin, eventually gained legitimacy thanks to Elon Musk, “The Technoking of Tesla.” Several canine-themed tokens appeared as a result of its popularity. Shiba Inu stood out and momentarily flipped Musk’s favorite Shiba Inu (SHIB). Despite the lack of more compelling narratives, money continued to flow into these joke coins.

This, however, could change. Most of these tokens will “fade into obscurity, being a historical remnant of the ridiculous times that was 2021,” according to Arcane.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.