Ripple and Cardano will drop out of the top 10 cryptocurrencies according to the latest research by Arcane Research so let’s read more in today’s Cardano ADA news.
Even as this year proved to be defining for BTC, it found itself on the sidelines as the rally came to a stop. Most altcoins at the same time came to the top including the meme coins. However, Arcane Research outlined the changes in the upcoming year that could turn everything around. Arcane Research noted in its report that 2021 was a year of ups and downs like for example Bitcoin outperforming both gold and stocks despite having a highly volatile year.
Altcoins like Binance Coin stole the show and BNB emerged as the best performer of the three biggest crypto assets by market cap which brought gains of more than 1300% and it wasn’t only BNB that crushed the market leader. With a 455% increase, ETH outperformed BTC with respect to a price performance and the crypto-analytic company noted that 2021 was one of the longest altcoin seasons and a great year for layer 1s. however, one of the biggest predictions made by Arcane Research was that Ripple and Cardano will fall out of the top 10 leaderboards. XRP even dropped from its position because of the ongoing Ripple-SEC battle. Cardano on the other hand showed strong potential but its surge was paused and proven unimpressive in the fourth quarter.
Layer 1 networks like Terra, Avalanche, Solana, Fantom, and Harmony all gained traction and stripped ethereum off its position as the DeFi leader. Outperformance by these networks will likely carry on the year to come and these smart contracts platforms will continue getting more users and funds from the Ethereum ecosystem. The surge in the price of their respective native tokens next year won’t be surprising either. This year we saw pretty bizarre tokens go on rallies but Bitcoin showed huge strength throughout with the market sentiment turning from greed to fear.
As a result, investors resorted to shifting into altcoins, and thanks to Elon Musk, the OG meme coin found support. A few other dog-themed tokens rode on the DOGE success and surged in value but one that caught Musk’s attention was Shiba Inu. Despite the lack of stronger narratives, the capital continued trickling down the meme coins but this all could change. Arcane noted that most of these tokens will fade into obscurity and will only be a witness of the absurd time that was 2021.
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