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.
HIFI’s value dropped 11% after Upbit suspended deposits, following the token’s addition to DAXA’s watchlist due to transparency issues.
Cardano price dropped 4.68%, with Bollinger Bands on the 12-hour chart tightening, signaling potential volatility ahead.
A crypto whale’s massive PEPE accumulation comes alongside a 6% dip, with analysts predicting a parabolic rally ahead.
Inspired by the Ghibli Anime AI trend, Solana-based meme coins, including Ghiblification (GHIBLI), have gained significant traction, hitting $20.8 million market cap.
HyperLiquid delisted the JELLY token after detecting suspicious activity by a trader while making $1 million worth of funds inaccessible for the exploiter.
Shiba Inu burn rate jumps 8,400% as SHIB price increases by 15%, eyeing entry into the top 10 digital assets.
Cardano is seeing a bullish price rebound, with key metrics like trading volume soaring, igniting speculations of a possible $2 breakout.
Immutable’s IMX token rallied 15% to $0.737 after the US SEC dropped its investigation, with daily trading volume by 120% to over $120 million.
An analyst has predicted that Mantra (OM) will hit the $10 price tag in the near future as whales purchase OM in massive numbers.
MOVE rallied 18% after Movement Network announced a $38M buyback plan, using funds recovered from its market maker through Binance.
BitMEX co-founder Arthur Hayes has predicted that Ethereum will skyrocket to $5,000 sooner than Solana (SOL) will push above the $300 price tag.
While the broader crypto market consolidates, Dogecoin price surged 5% in the last 24 hours to $0.1852, with trading volumes jumping 111% to $1.58 billion.
Cronos (CRO) price skyrocketed following a new partnership with Truth Social, but the crypto community and experts soon criticized the company for bringing back 70 billion tokens.
Bithumb has announced the launch of KRW trading pairs for RED and NIL, triggering sharp price swings for the tokens.
US President Donald Trump called TRUMP meme token as “the Greatest of them all”, via Truth Social, sending the price of the token above $12.2 briefly.