The cryptocurrencies Cardano (ADA) Ripple (XRP) and cryptocurrency meme have a great chance of losing the leadership to others in 2022, according to Arcane Research.
In his last report, Arcane Research highlights the growth of the cryptocurrency market in 2021. Despite strong price fluctuations, the main assets managed to make a “year of ups and downs, but mainly highs”.
Three cryptocurrencies received Arcane’s initial highlights: Bitcoin (BTC), que superó al S&P 500 y al oro, Binance Coin (BNB), which ranked third in the ranking of the largest cryptos in market value after rising more than 1,300% and Ethereum (ETH), which had a great movement in its network, making its token value 455% in year.
In addition, they stood out other projects that, despite having even higher valuations during 2021, they may lose prominence in the following year.
ADA and XRP may break out of the top 10
In one of his predictions, Arcane notes that ADA and XRP tokens, which currently rank sixth and eighth in the capitalization ranking, respectively, could drop out of the top 10 crypto projects list in 2022. This projection calls the attention, not so much for the XRP, for the uncertainties about the demand that Ripple faces SEC, but because of the possibility that the native token of Cardano lose ground.
The blockchain led by Charles Hoskinson had major updates and improvements during 2021, especially after the hard fork Alonzo. As a result, several projects are being developed in its blockchain, which are expected to be launched in 2022.
However, for Arcane Research, cryptocurrencies from other blockchain such as Solana (SOL), Avalanche (AVAX), Earth (LUNA), Fantom (FTM) got even more projection next year and may overtake Cardano in the coming months.
According to the report, Cardano would not be the only network threatened by these projects. Ethereum in 2022 may lose its leadership position in the decentralized finance (DeFi) sector to one of these networks. With that, an increase in the price of these tokens would be expected.
The valuation of meme cryptocurrencies will be in the past
2021 was also marked by sharp price increases and the adoption of meme cryptocurrencies, notably Dogecoin (DOGE) and Shiba Inu (SHIB). Both cryptocurrencies featured interesting projects for the coming year, leading some investors to believe that their success could be even greater the following year.
While Dogecoin presented a roadmap with its future projects, Shiba Inu is investing in creating NFT games. However, for Arcane Research, in 2022 these cryptocurrencies will not have great successor, “being a historical relic of the absurd times of 2021”.
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Cardano, Ripple and meme cryptocurrencies will lose relevance in 2022, according to Arcane Research – BeInCrypto