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Blockchain data research firm Arcane Research has analyzed its final report for 2021 and has made some interesting cryptocurrency predictions for 2022.
Arcane’s recent weekly update focused mainly on the two crypto giants Bitcoin and Ethereum. The report also shed light on decentralized finance (Defi), Non-fungible tokens (NFT), other major market cap coins, and meme coins. A prediction for all these topics was made in the latest report by Arcane Research.
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Cardano and Ripple Will Fall Out of Top 10
One of the major predictions made in the report is the potential exit of ADA and XRP from the top 10. This prediction was made on the basis of crazy gains made by the likes of Binance coin (BNB) and Solana (SOL). BNB went up 1,344% in 2021 and there were a few more major coins that had a similar sort of run. With the NFT craze taking over and the crypto space expanding, the competition is only going to increase. Things could get challenging for industry leaders like XRP and ADA.
Bitcoin Will Continue to Outperform S&P 500
Bitcoin outshined the S&P 500 throughout 2021. The S&P 500 companies went up only 28% this year compared to Bitcoin’s 73%. Arcane believes that BTC’s dominance in this area will continue and it will keep outperforming S&P 500 in 2022.
S&P 500 includes the 500 biggest companies as listed on the American stock exchange.
Gaming Companies Will Capitalize on the NFT Boom
NFTs became a worldwide sensation in 2021 and in a matter of years, everyone has started talking about it. Traditional gaming companies will not let this opportunity go and will capitalize on this by integrating and introducing more NFTs into their games. Blockchain games like Alien Worlds and Splinterlands hosts half a million daily users, a clear indication of the market’s potential.
Alternate Layer-One solutions will Outperform Ethereum
With a massive market cap of over 400 billion dollars Ethereum’s growth will slow down naturally, and other layer-one solutions will keep outperforming it as they did this year. Where Ethereum went up 455% this year, the likes of Terra Luna and Fantom spiked more than 13,000% in 2021.
By the End of 2022, There Will Be 1 Million Bitcoin Held in ETF
Many cryptocurrency exchanges launched ETF in 2021 as their demand has also increased significantly. These cryptocurrency exchanges collectively hold 846,309 Bitcoin in ETFs, a number that Arcane Research believes will pass 1,000,000 by the end of 2022.
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