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.
Blockchain analytics firm Nansen attributes the rally to significant participation from “smart money” wallets, with $14.2 million in inflows over 30 days.
The SEC’s announcement to postpone a decision on the Canary Funds Litecoin ETF led to a 6% drop in LTC price, which is now trading at $82.38.
The price of Litecoin rose 5% ahead of an anticipated US SEC decision on the Canary Capital spot ETF proposal.
After rebounding nearly 9% over the past month, Avalanche (AVAX) is showing signs of bullish momentum.
The Solana Foundation resolved a critical vulnerability affecting the Token-2022 and ZK ElGamal Proof programs.
Tron DAO said its social media page on X was exploited on May 2, an event that resulted in an undisclosed sum belonging to members of the community.
MOVE plunged to a historic low of $0.185 after co-founder Rushi Manche was suspended amid a market-making controversy.
Sui Network is set to boost Bitcoin DeFi by integrating sBTC, enabling secure and scalable BTC use in decentralized finance.
DOGE holds steady near $0.175 despite Tesla rumors, as ETF optimism and whale accumulation fuel hopes of a potential breakout.
Cardano founder Charles Hoskinson has weighed in on a proposed Bitcoin Core update that is stirring heated debate among developers.
Litecoin and Solana might see their spot exchange-traded products enter the US market earlier than most of the anticipated XRP ETFs.
With Cardano surpassing Ethereum in core developer activity over the past year, ADA could outperform ETH in the near future.
Traders are signaling the possible start of an altcoin rally, fueled by capital inflows into smaller-cap cryptocurrencies.
Large holders, including the TRUMP development team and Cumberland DRW, have sold a total of $24 million worth of the meme token recently.
Bonk (BONK) price has climbed an impressive 60% over the past week in anticipation of upcoming announcements at Solana’s Accelerate in May.