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.
O’Leary added that Ethereum will always be used as a tracking system. Meanwhile, ETH has established a new ATH over $2,700.
The new initiative is not a surprise for many as JPMorgan Chase, DBS, and Temasek are not new players in the blockchain and digital currency ecosystem.
Polygon’s effort to bring the DeFi space to users started a while ago and has so far yielded many positive results this year.
Already three mStable features are live and can be accessed on Polygon (Matic).
The price of DOGE jumped by around 20% after the recent tweet by Elon Musk. At the time of writing, DOGE is trading at $0.32.
As Bonded continues its development, new assets will be available for borrowing and lending, alongside new products including index protocols, synthetic assets and the release of the bToken, Bonded’s hybrid algorithmic stablecoin.
Two rapidly evolving industries are combined with Greenheart CBD’s exciting new platform.
Despite the controversy surrounding the Tether coin, Coinbase Pro is still planning to go ahead with the listing.
During the earnings call, Al Kelly firmly reiterated and outlined Visa’s plans, stating that the credit card company has been looking into Bitcoin-related services.
According to Goldman Sachs, many of the indicated stocks have “dramatically outperformed” the broader stock market.
While the exact dates for the pre-sale are not yet confirmed, the anticipation around the Chia coin project suggests it will be one of the biggest crypto fundraising events of the year.
The new 1inch mobile wallet app expands the network functionality by offering the best possible transaction rates for instant execution of trades.
Prior to Wednesday’s Ethereum (ETH) price pump, several underlying factors had accumulated in favor of the asset.
Contrary to popular belief, CeDeFi does not compete with DeFi but compliments it and makes it more flexible and user-friendly.
The altcoins including Ethereum (ETH), XRP and Binance coin (BNB) have also seen gains this week, contributing to the crypto market rebound.