The altcoins that have pulverized Ethereum or Bitcoin in the year of cryptocurrencies

Altcoins Crypto
Altcoins Crypto

Cryptocurrencies continue to move forward and little by little they begin to enter the portfolio of a greater number of investors. Despite their high volatility and still doubtful utility (at least some of them), bitcoin, ethereum or cardano are beginning to be common names for those who have a certain interest in investing. However, there is another lesser-known group within cryptocurrencies that could offer great returns. What’s more, this is an already real trend in some cases.

  • Binance Coin has appreciated during this 2021 by 1,300%
  • By contrast, bitcoin has only rebounded 65% this year
  • The big winners have undoubtedly been cryptos like Solana and Fantom

This year, the old guard of cryptocurrencies has lost ground to tokens that are still in their infancy, but that has ended the year with higher returns. Researchers predict this trend may continue, the Bloomberg consensus reveals.

More profitable than bitcoin

Among the three most relevant digital tokens by market value (always excluding bitcoin or ethereum), Binance Coin, or BNB, significantly outperformed its two largest rivals, bitcoin and ether. The coin, issued by crypto exchanger Binance Holdings, gained roughly 1,300% in 2021, according to Arcane Research. By comparison, the market leader bitcoin rose 65% while Ether, the second-largest token, rose 408%.

BNB is widely used on Binance, the world’s largest crypto exchanger by volume. It is also the native currency of Binance Smart Chain, a blockchain platform that supports smart contracts for use in decentralized finance (DeFi) and other applications. With BSC gaining traction as a challenge to the Ethereum blockchain, that has helped drive gains in the BNB token, according to Arcane Research.

Other altcoins made significant gains in 2021, benefiting from an explosion in investor interest in digital assets and an expansion of the crypto ecosystem. Solana and Fantom, currencies connected with other blockchain platforms that support smart contracts, have exceeded the returns of Binance Coin, for example, they explain from the financial agency Bloomberg.

“Although bitcoin showed strength in 2021, we have seen a steady flow of capital trickling into altcoins,” the research firm wrote in a note. The company’s analysts predict the strongest momentum in tokens related to the metaverse and GameFi, along with “ETH killers” targeting Ethereum.