In a summary made by Arcane Research, the crypto analysis group set out its predictions on what’s to come for the crypto market in 2022.
Yesterday, Arcane Research published their weekly report on some of the most prominent digital assets including Bitcoin, Ethereum, XRP, and Cardano. Likewise, it went through the future of blockchain technologies like DeFi and art-based digital assets, also known as non-fungible tokens (NFTs).
The first target of analysis was Bitcoin which outperformed the S&P 500 stock, for 3 years in a row, with a 73% increase, while S&P managed to raise its value by 28%. This led the Arcane Research team to a conclusion that “Bitcoin will outperform S&P 500 in 2022.”
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On the other hand, Ethereum had much bigger gains - reaching a 455% increase in price, while BNB skyrocketed at 1344% over the whole year.
In regards to some of the most popular altcoins, XRP and Cardano, which had some major success in the past years. However, the prediction suggests that these two will "fall out of the top 10" since the emergence of multiple other altcoins, and the uprising of NFTs that gained a lot of traction in the past months.
Also, blockchain gaming is set to take off in 2022 since previous success that came from P2E games like Axie Infinity which managed to reach almost $4B worth of sales. Even startup NFT projects raked in millions of dollars in investments, and several digital asset marketplaces emerged with the help of venture capital investors and tech companies.
Finally, according to Arcane Research, crypto like DOGE will be in complete despair because of the NFT breakthrough which will possibly be taking the spotlight over meme-coins.
