Bitcoin and Ethereum gained 65% and 408%, respectively, in 2021.Binance Coin (BNB) is the native coin by Binance Smart Chain.Analysts believe crypto tokens associated with metaverse and GameFi will boom in 2022.
Of the top three leading cryptocurrencies by market value, Binance Coin (BNB) outperformed its rivals, Bitcoin (BTC) and Ethereum (ETH). The previous dominant assets appear to give way to alts with lucrative gains this year in what trend researchers forecast will remain in the coming years. That is according to reports by Bloomberg.
BNB Grew 20 Times as Much as Bitcoin
Binance Coin, issued by the leading cryptocurrency exchange globally, Binance Holdings, surged about 1,300% in 2021 (data from Arcane Research). Bitcoin, the first crypto coin to arrive in the marketplace, gained only 65% at the same time. Ethereum, the 2nd-largest token, saw somehow lucrative moves, surging 408%. While publishing this content, BNB ranked 3rd in the crypto-list, exchanging hands at $524.83.
The world’s leading cryptocurrency exchange by volume utilized BNB as Binance Smart Chain’s native coin. BSC is Binance firm’s blockchain network, supporting smart contracts capabilities, supporting different apps, including DeFi. Arcane Research revealed that Binance Smart Char is expanding as a competitor to ETH Mainnet, and BNB’s performance seems to reflect the same.
Altcoins Exploded in 2021
Though the success, BNB was not the top-performing digital coin of the year. Most assets saw staggering percentage gains as interest from digital assets and crypto heightened amid the growing crypto atmosphere. For instance, Solana (SOL) and Fantom (FTM) outshined Binance Coin. Solana and Fantom utilized other blockchain networks supporting ‘smart’ contracts.
Analysts at the research companies predict a massive momentum in currencies connected to metaverse and GameFi. The innovations appear to boast multiple opportunities to market players. For instance, GameFi allows online players to earn crypto while enjoying video games. Also, Ethereum killers such as Solana and Avalanche show promise, progressing to solve issues related to ETH blockchain.
With such actions, 2022 appears to be a fascinating year for crypto participants. Nevertheless, nothing is a guarantee in this industry. Will we see new assets rising to the top? You can share your thoughts in the comment area below.