The top 14 cryptocurrencies have experienced massive growth as seen in year-over-year comparisons. As a matter of fact, some of these cryptos have multiplied 10x, 100x, 1000x, and even more over the course of just a year.
Here are the Top 14 Cryptocurrencies Performance Year-Over-Year:
Bitcoin at the start of 2021 cost 32,222 USD
Ethereum at the start of 2021 cost 770 USD
BNB at the start of 2021 cost 38.25 USD
AVAX at the start of 2021 cost 3.49 USD
TRON at the start of 2021 cost 0.0272 USD
Cardano at the start of 2021 cost 0.17 USD
Dogecoin at the start of 2021 cost 0.0106 USD
Solana at the start of 2021 cost 1.80 USD
XRP at the start of 2021 cost 0.22 USD
MATIC at the start of 2021 cost 0.0189 USD
CRO at the start of 2021 cost 0.0618 USD
MANA at the start of 2021 cost 1.42 USD
SANA at the start of 2021 cost 0.0381 USD
SHIB at the start of 2021 cost 0.0000000007 USD
When picking out the next biggest cryptocurrency, it is important to look at the use cases. It can be seen that despite the previous notion regarding altcoins, more and more portfolio managers are looking to invest in altcoins this 2022.
Venture Firms Looking Into Altcoins
Per the article by CoinDesk, the CEO of venture firm Youbit Capital, Chen Li, noted that the perception that Bitcoin is still correlated to some other risk-on assets or gold continues to persist. The article adds that he expects risk-on assets to fall as interest rates are expected to rise thanks to the Fed's tapering of its own bond-buying program.
CoinDesk has also noted that 2022 may be the year that altcoins finally become more uncorrelated with Bitcoin, which will then be uncorrelated with macro assets. In fact, the public may witness traditional portfolio managers giving altcoiuns the "once-over" at a bare minimum in order to diversify their portfolio, per the article.
Altcoins in the Risk of Extinction
According to the story by NewsBTC, during the crypto hype that resulted in Bitcoin becoming a household name, altcoins also exploded to all-time highs. They likewise generated life-changing wealth for certain investors.
Since then, however, the article notes that there has been a three-year downward trajectory that can be noted and it is seen to resolve further to the downside. Due to this, altcoins may be seriously risking extinction.
Read Also: Top BSC Projects Ending 2021 in Terms of Altrank | Swipe Lands Number 1 Spot
Surge in Altcoihns Could Result in Crypto Market Crash
Another article by LittleLaw.co.uk, however, notes that the recent surge in interest in altcoins is still thought to be rather "unsustainable."
The publication also notes that some experts also believe that the recent surge in investment in altcoins will more likely result in a crypto market crash that is similar to what happened in May of last year.
Related Article: Top Crypto Drops to Extreme Fear on Fear and Greed Index | Bear Market Not Over?
This article is owned by Tech Times
Written by Urian B.
