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.
Solana (SOL) shot up a massive 8% in the past 24 hours amid reports of significant inflows in SOL-based investment products.
Avalanche’s AVAX climbed 12% in the last 24 hours, with a 185% spike in daily trading volumes to nearly $400 million.
WLFI’s latest $3 million MNT purchase boosted its total holdings to 5.99 million tokens, as Mantle price jumped 8%.
Analysts highlight narrowing Bollinger Bands on the 12-hour chart, signaling an imminent major Dogecoin price move in the near term.
Hours after Canary Capital filed for a PENGU ETF on March 20, the token’s price dropped by 10% to $0.0062, with critics pointing to weak retail demand.
Dogecoin (DOGE) is eyeing a massive 16% price increase and has formed an ascending triangle with a bullish target of $0.208.
Uniswap price has climbed 8% to $7, driven by community approval of governance proposals to activate the long-anticipated fee switch.
Bitcoin and the broader crypto market suddenly gained momentum after the March 19 US Federal Open Market Committee meeting.
Litecoin (LTC) could continue its descent toward the projected $70 target, claimed analyst Ali Martinez.
Shiba Inu (SHIB) burn rate has crashed a massive 40% in the past day as the meme token approaches two key support levels: $0.0000115 and $0.00000815.
The native token of the EOS Network recorded a strong bullish momentum amid the network’s rebranding to Vaulta.
Binance Alpha introduced support for MUBARAK meme coin which resulted in the digital currency skyrocketing 200% in the past 2 days.
Ripple Labs introduced a trademark for “Ripple Custody”, suggesting a possible entry into the custody sector for the American fintech firm.
Dogecoin (DOGE) is eyeing the $1 price tag amid a 37% decline in the past 30 days while investors continue to accumulate during the dip.
PEPE is shaping a bullish inverse head and shoulders pattern, with a potential 40% rally if it breaks through the $0.0000075 resistance level.