Blockchain data firm Arcane Research took a look back at 2021 and offered its predictions for the crypto markets going into 2022.
Arcane Research thinks Bitcoin will continue its growth in 2022
The Weekly Update report of Arcane Research is focused mainly on Bitcoin and Ethereum but also there are some important notes regarding other alt-coins, memecoins, DeFi and NFTs. Arcane predicted the outcomes for 2022 in all topics covered in the report.
The study says that through 2021, Bitcoin has outperformed the S&P 500. Bitcoin is up more than 73% so far this year, and Arcane expects Bitcoin to continue its rise into 2022. The benchmark Standard & Poor’s Index is a measure of the performance of the big, publicly-traded U.S. companies. It focuses on the largest 500 companies by total share capitalization.
XRP and Cardano will exit the top 10 list in 2022
As noted by Arcane, the gains on BNB this year were tremendous, hitting a peak of over 1,600% in May and finishing out the year up only 1,344%. That is why, and partly because of the NFT trend, Solana and Terra were able to grow in value. The analysts think XRP and Cardano will no longer be in the top 10 list throughout next year. In 2021, ETH outperformed BTC with a gain of 455% to 73%, but other layer-one blockchains also outperformed ETH.
Gaming companies to invest in NFTs
2021 has been the year of NFTs when we look back to the crypto scene. According to Arcane, in 2022, traditional gaming brands will enter the NFT market and profit from the explosive growth in this sector.
Crypto companies will grow even bigger
More crypto companies will go public. Several will have a valuation over $5B. Coinbase made lots of collaborations with important brands and went public on April 14, it has a market cap of $72 billion right now. According to Arcane’s estimates, there will be other crypto companies valued higher than $5B in 2022.
For more information, you can check the full report here.
