In the next bull market, legacy projects are unlikely to reach new highs. In 2021, only five out of 30 coins were able to return to previous high levels.
Similar dynamics have already been observed during the growth period in 2021. With this opinion shared trader and analyst Lady of Crypto on Twitter.
There is hope, but everything is not certain
The expert analyzed 30 leading projects that were at the peak of popularity during the 2017 bull market. According to the results of the analysis, only five of them updated their maximums in 2021: Dogecoin (DOGE), Waves (WAVES), Ethereum Classic (ETC), Cardano (ADA) and Litecoin (LTC).
However, in terms of growth, the rally was not as significant as before. 84% of the largest coins by capitalization in 2017 were unable to return to their previous ATH.
According to Lady of Crypto, there are many hopes that 2021 projects will still update the maximum figures. However, she believes that this is a rare occurrence.
The greatest growth this year was demonstrated by ETH (58%), XRP (about 92%), SOL (170%), TON (69%). BNB fell in price by 14% during this period, and DOGE lost 6% in price. For ADA, the increase is insignificant – about 6%.
The altcoin of the Solana project hit a yearly high of $39.36 in November. Thanks to such positive dynamics, the token returned to 7th place in the ranking of the most capitalized cryptocurrencies. In addition, this also led to renewed interest in the token in the crypto community: almost 2% of all discussions on the topic of the top 100 assets were dedicated to SOL.
Experts predict a positive future for the second cryptocurrency. Thus, an analyst from Matrixport believes that the coin has every chance of reaching $3 thousand if ETH manages to gain a foothold at $1800.
Source: Cryptocurrency
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