INSUBCONTINENT EXCLUSIVE:
BNB is used widely on Binance, the world's biggest crypto exchange by volume.This year, the old guard of cryptocurrencies lost ground to
tokens with greater returns
Researchers predict the trend may continue.Among the three largest digital tokens by market value, Binance Coin, or BNB, significantly
outperformed its two larger rivals Bitcoin and Ether
The coin -- issued by crypto exchange Binance Holdings Ltd
-- gained roughly 1,300 per cent in 2021, according to Arcane Research.By comparison, market leader Bitcoin increased 65 per cent while
Ether, the second-biggest token, rose 408 per cent. Photo Credit: BloombergBNB is used widely on Binance, the world's biggest crypto
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 adherents as a challenger to the Ethereum blockchain, that's helped fuel gains in the BNB token, according to Arcane
Research.Other alternative coins, or “altcoins,” saw major gains in 2021, benefiting from an explosion in investor interest for digital
assets and an expansion of the crypto ecosystem
Solana and Fantom, coins connected with other blockchain platforms that support smart contracts, outpaced Binance Coin's returns, for
instance.“While Bitcoin showed strength in 2021, we've seen a constant stream of capital trickling down into altcoins,” the research
The firm's analysts predict the strongest momentum in tokens related to the metaverse and GameFi, along with “ETH-killers” targeting
Ethereum.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
