The illustration was created byado Ruvic.
Binance coin beat out both ether and bitcoin for gains in 2021.
The third-largest coin by market cap gained 1,344% this year, far better than ether's 455% and bitcoin's 73%.
According to a recent report by Arcane Research, the rise of the coin, ticker BNB, can be attributed to the growth of the Binance Smart Chain.
Users can build their apps and digital assets on a single blockchain with the help of the BSC.
The performance of the top 3 cryptocurrencies.
It is called Arcane research.
The native currency of the Binance chain is BNB, which is issued by the world's largest exchange. The coin was based on the network.
BNB is 4% of the entire market with an $87 billion market cap.
The market for altcoin gained traction throughout the year as retail investors piled in, looking to cash in on the hefty gains.
The research firm said that during the first five months of the year, bitcoin lost its dominance as traders switched to altcoins.
This year saw the rise of many meme token, including shiba inu, a doge coin spinoff whose price rocketed 440,000%.
"These months saw a mixture of stupid pumps in meme coins and ethereum Defi strength," the firm said.
Business Insider has an original article.
