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.
Tether Limited announces strategic investment in Juventus Football Club, marking a significant move to merge digital assets with traditional sports infrastructure.
On-chain data shows the 7-day average transaction fees on Solana have outpaced Ethereum amid the weakening dominance of SOL in February.
The rising meme coin vortex on the BNB Chain triggered by Binance co-founder CZ has helped PancakeSwap surpass $1 trillion in trading volume.
The Toncoin DeFi ecosystem will experience a major boost on February 21 after Telegram, with 1 billion active users, adopts TON as the official blockchain infrastructure.
The SEC, previously dismissive of similar proposals, appears more open under the current administration.
WLFI has invested millions in MOVE tokens and wrapped Bitcoin following the launch of its strategic token reserve “Macro Strategy”.
BitMEX founder Arthur Hayes forecasted that once the market turns bullish, the TRUMP meme token could lead Bitcoin’s rally.
TEL breaks key resistance, fueled by a 214% volume spike. With RSI nearing 70, will it push past $0.0090 or face a pullback?
JUP buybacks start Feb 17, cutting supply while boosting demand. With price forming a bullish setup, will it break past $1.27?
Kraken adds NOT and DOGS to its exchange, driving a 26% rally in NOT and reinforcing the TON blockchain’s growing influence.
HTX removes PI token, converting user balances to USDT ahead of Pi Network’s mainnet launch, as speculation and exchange listings grow.
MyShell’s $SHELL airdrop begins post-IDO, rewarding users as its AI-powered Web3 ecosystem gains momentum with top-tier backing.
US lawmakers are pushing for new stablecoin regulations that might impact Tether’s operations in the market.
Binance Coin (BNB) has experienced a 15% rally in the past 24 hours, surpassing Solana (SOL) to become the fifth-largest cryptocurrency by market cap.
Coinbase announces support for POPCAT and PENGU, leading to price surges and increased trading volumes while introducing perpetual futures trading.