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Cryptocurrency market research firm Arcane Research has made pessimistic predictions for some cryptocurrency projects currently in the pipeline. top 10 in market capitalization, but are expected to lose that position in 2022. Among them are Cardano (ADA) and Ripple (XRP).
2021 has been a roller coaster for the cryptocurrency industry and Arcane Research expects more intriguing developments in 2022.
Even though the year proved to be a defining moment for Bitcoin, he found himself sidelined when the impressive rally came to an end in recent days.
At the same time, many altcoins surfaced, including memecoins. However, Arcane Research has outlined possible changes in the coming year, which could turn the tide.
The great champions in the Top 10
Top 10 by market capitalization – source: CoinGoLiveArcane Research pointed out in its most recent report that 2021 was a year of ups and downs, but mostly ups. THE Bitcoin (BTC), for example, outperformed the stock and gold markets, despite going through a year of high volatility.
However, projects like Binance Coin (BNB) inevitably stole the show, as BNB emerged with notable performers among the top three cryptocurrencies by market capitalization, earning more than 1,300%.
BNB performance – source: CoinGoLive
with an increase of +455%, Ethereum (ETH) significantly outperformed bitcoin relative to price performance. As noted in the review, 2021 was a long altcoin season and was the year for tier-one projects.
However, one of the boldest predictions made by arcane for next year is that ripple (XRP) and cardano (ADA) may fall out of the top 10 rankings.
The once third-biggest cryptocurrency by market value, XRP, dropped many positions in 2021, in part due to the ongoing Ripple vs. SEC tussle.
Cardano, on the other hand, has shown immense potential due to significant updates. Its increase, however, paused and proved almost unimpressive in the fourth quarter, when the market noticed a delay in the delivery of some old promises.
Highlight for first layer
First-tier networks (with their own blockchain), such as Solana (SUN), Avalanche (AVAX), Earth (LUNA), fantom (FTM) and Harmony (ONE) gained strength, calling into question the undisputed position of the Ethereum (ETH) as the DeFi leader.
The superior performance of these networks is expected to continue into next year, according to Arcane, and these smart contract platforms will continue to abstract users as well as funds from the Ethereum ecosystem.
Therefore, an increase in the price of their respective native tokens in 2022 would also not be surprising for projects that deliver usability results to the industry of decentralized applications and smartcontract networks.
Dogfights, memecoins and inexplicable pumps
The internet is a strange place, but the world of cryptocurrencies is even stranger.
The year witnessed the rapid growth of many out-of-the-box projects and others that are necessarily bizarre, with tokens and proposals that make no sense.
Although Bitcoin demonstrated massive strength, market sentiment shifted from extreme greed to fear.
As a result, investors turned to altcoins. Thanks to Elon Musk, “The King of Technology at Tesla”, Dogecoin (DOGE), the leading memecoin, finally gained ground.
Following this wave, several dog-themed tokens appeared. One that stood out and almost became Musk’s new favorite was – Shiba Inu (SHIB).
And despite the obvious lack of good fundamentals, its capitalization continued to increase gradually.
However, that could change. Arcane noted that most of these tokens will eventually “disappear into obscurity, being a historical relic from the absurd times of 2021.”
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