Cryptocurrency analysis firm Arcane Research is giving investors predictions about what could happen next year to major cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and meme coins, especially Dogecoin (DOGE), Shiba Inu (SHIB). cryptocoin.com We are giving the details as…
Arcane Research drew attention to SHIB, BTC, ETH and layer 1 coins in its report
In its Weekly Update report, Arcane predicts that ETH will outperform Bitcoin (BTC) in terms of price performance, but will continue to lag behind Bitcoin by market cap. Ethereum’s valuation is currently around $490 billion, while BTC is worth $1 trillion. Ethereum, which is thought to outperform BTC, is also facing threats from other layer 1 networks. In 2021, tier 1 coins Solana (SOL), Avalanche (AVAX), Terra (LUNA), Phantom (FTM) and Harmony (ONE) have already outstripped ETH in terms of profit.
The report says that altcoins from these platforms will continue to outperform ETH next year as user acceptance and fund inflows continue to increase and drive up the price of these coins. According to Arcane, adoption of layer 1 other than ETH will continue to increase and coins will also outperform ETH.
Finally, when it comes to meme coins that marked 2021 like Dogecoin (DOGE) and Shiba Inu (SHIB), the firm thinks that most of these tokens will go down after this year’s big rally. “Most meme coins will become obscure as a historical relic of the absurd times in 2021,” the statements are used. DOGE and SHIB have been in decline for a long time. DOGE is 76 percent below its record of $0.73 on May 8, 2021, while SHIB is 60 percent below its record set on October 28, 2021.
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