2021 can be called the year of the Altcoin binge. Many altcoins have outperformed older cryptocurrencies such as Bitcoin and Ethereum. Analysts believe this trend will continue next year.
Among the top three cryptocurrencies by market capitalization in the world, Binance Coin (BNB) has risen significantly this year compared to the other two rivals Bitcoin and Ethereum. The former is a token issued by the cryptocurrency exchange Binance.
Binance Coin (BNB) is up roughly 1,300% this year, compared with Bitcoin’s 65% gain and Ethereum’s 408% gain, according to Arcane Research.
Other altcoins have also seen huge gains in 2021 as investor interest in crypto assets surges. For example, Solana, the so-called “Ethereum killer”, has also increased more than BNB.
Arcane Research wrote in a report:
“Despite Bitcoin’s strong performance in 2021, we are seeing more money flowing into altcoins.”