Since the inception of bitcoin in 2009, thousands more have sprung up with each of them having their distinctiveness. Bitcoin is often referred to as the king of cryptocurrency each of the other thousands of cryptocurrencies falls under the class of altcoins; be it Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Monero (XMR), EOS (EOS), TRON (TRX), etc.
All altcoins have their uniqueness in the sense of how they are mined, their nature (whether or centralized or decentralized), underlying technology, speed of transaction, coin distribution mechanism, etc. Although bitcoin is always used as the yardstick when analyzing an altcoin, some altcoins outshine bitcoin in certain specs. Several altcoins are developed on Bitcoin’s framework.
Altcoins are sub-divided into three categories namely; stablecoins, utility tokens, and security tokens. For example, stablecoins such as Tether (USDT), Binance Coin (BNB), Gemini USD (GUSD), USD Coin (USDC), etc. are known to be less volatile than Bitcoin because they are pegged to fiat currencies. However, some altcoins fall under more than one of these categories. You will find more information in altcoin news category.
Altcoins are getting thumbs up from different quarters for playing a significant role in the expansion of boundaries of blockchain adoption and applications. For example, Ethereum is known for its robust blockchain that enables faster transaction time as well as the creation of decentralized applications (dApps). At the time of launch, most altcoins sell themselves as better alternatives to existing ones and usually attempt to improve on the setbacks of known altcoins.
According to CoinMarketCap, there are over five thousand digital currencies in April 2020 although BTC has a staggering 64% dominance in the crypto market. As a crypto investor and enthusiast, stay tuned to coinspeaker.com to get the latest altcoins news around the world to keep you updated and geared up in the crypto space.
Tron (TRX) has officially climbed into the top 10 cryptocurrencies by market capitalization, now sitting in 10th place with a valuation of $12.49 billion.
Hong Kong Legislative Council member Johnny Ng has recently called for the government to explore regulations governing DAO sector.
Decentralized exchange aggregator Jupiter has identified a malicious Chrome extension targeting Solana users. According to their research post, the extension, named Bull Checker, has found a way to bypass Solana security and steal money from users’ digital wallets.
Ethereum price drops to $2.6K, but analysts predict the end of correction soon as market indicators show signs of recovery.
As per the on-chain data, the unknown wallet has accumulated a total of 1,953 WBTC from the crypto exchange Binance at an average price of $58,853.
Mango Markets has introduced a proposal to pay $223,228 in penalties to the SEC and shut down operations involving its MNGO token.
The Tron ecosystem just scored a major win against the US SEC in a securities lawsuit that seeks to classify TRX as an investment contract.
Forms for Solana spot exchange-traded funds (ETFs) filed by VanEck and 21Shares have been unexpectedly removed from the Chicago Board Options Exchange (Cboe) website, leading to speculation that these applications might face delays or even denial.
TON’s recent breakout above a critical downtrend line, supported by increased trading volume and bullish technical indicators, points to a potential 40% rally.
Polygon has set September 4 as the date for transition from its native MATIC tokens to the new Polygon Ecosystem Token (POL) tokens.
Stablecoin issuer Tether Holdings is on track to launch USDT on Aptos in a bid to expand the reach of both protocols.
The India Directorate of Enforcement (ED) in Ahmedabad, on August 13, arrested a man, Shailesh Babulal Bhatt, for kidnapping two employees of the defunct BitConnect and was also charged with forcing them to hand over both cryptocurrency and cash.
The Invite team intends to conduct monthly burns until the total supply reduces by 75 percent, thus channeling the benefits to its community.
Pump.Fun, a Solana memecoin generator, nears $100 million in revenue with explosive growth and 1.8 million tokens created.
Binance Futures has announced the addition of the SYSUSDT Perpetual Contract on its platform on August 19, sending SYS token 50% upwards.