Altcoin Underdogs Outperform Bitcoin To Kick Off 2022
05 Enero 2022 - 1:00PM
NEWSBTC
Altcoins have started the year 2022 with an overperformance over
Bitcoin. Out of all the various indexes, the mid-cap coins seem to
have accumulated the most gains so far. Bitcoin Starts The Year
Underperforming The Altcoins As per the latest weekly report from
Arcane Research, Bitcoin’s 2022 has started with the coin
underperforming in front of various altcoins. Throughout 2021, most
of the altcoins managed to beat BTC in terms of overall gains. And
it looks like this year also hasn’t been any different so far. Here
is a chart that shows how the various altcoins have compared with
Bitcoin since the start of this year: Looks like every index has
beaten BTC so far in the year | Source: The Arcane Research Weekly
Update - Week 52 In the above graph, all the altcoins have been
separated into different “indexes” based on their market
capitalization. The three categories include the large-cap index,
the mid-cap index, and the small-cap index. The various coins fall
into these divisions depending on where their market cap stands,
and their gains as a whole are considered in the chart. Related
Reading | Bitcoin Open Interest Reaches Dangerously High
Values, Leverage Flush Coming? As you can see in the graph, Bitcoin
seems to have lagged behind the rest of the indexes, with the
crypto dipping 3% into losses since the start of the year. The
mid-cap altcoins have performed the best so far, managing profits
of around 8% since the start of January. Their success is thanks to
the great performance of layer-1 tokens like Cosmos. The large and
small-cap indexes are also in the green, amassing 3% and 4% gains,
respectively, since the new year. Related Reading | Interview
With Aleph Zero On The MEV Problem That Could Cost Ethereum Users
$1 Trillion In Losses A consequence of Bitcoin’s underperformance
has been that the cryptocurrency’s dominance has been dropping
recently. The below table shows how the market share of the top
coins has changed in the past week. USDT seems to have gained the
most market share in the last seven days | Source: The Arcane
Research Weekly Update - Week 52 Bitcoin’s market share is now
around 39.5%, which is the lowest it has been in almost three
years. It now remains to be seen whether the crypto’s
underperformance will come to an end soon, or if 2022 is going to
be like 2021 all over again, with altcoins thriving. BTC Price At
the time of writing, Bitcoin’s price floats around $46.2k, down 3%
in the last seven days. Over the past month, the crypto has lost 6%
in value. Here is a chart that shows the trend in the price of the
crypto in the last five days: BTC's sideways movement seems to have
carried on into 2022 | Source: BTCUSD on TradingView Featured image
from Unsplash.com, charts from TradingView.com, Arcane Research
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