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.
Following the launch of the Reef Chain Mainnet, DeFi users can gain a smart decentralized finance exposure with interoperability features across multiple chains including Ethereum, Polkadot, Cosmos, Avalanche, and the Binance Smart Chain amongst others.
It is estimated that the Thodex exchange has shut down with between $2-10 billion of investors’ hard-earned money irretrievable.
Currently, it is not clear what the UK’s Financial Conduct Authority will see fit for the new Binance tradable stock tokens services.
Liquidity providers in DeFi can now earn rewards in NFT token BAEPAY and use it across different Blockchain Art Exchanges.
One of the funds launched by Huobi Asset Management is a private equity fund that will invest solely in cryptocurrency mining operations.
The bill will clarify the roles of regulatory agencies like the Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC) in managing crypto in the US.
UnoRe aims to be the missing piece that unlocks the enormous potential of decentralization within the reinsurance industry.
Unstoppable Wallet is one of the newest and lesser-known wallets in the ecosystem. It was the latest mobile-first wallet to be added to bitcoin.org wallet list.
The purpose of the GIIS program is to compensate the investors of unprofitable projects for the funds spent.
Through the NFT projects, many viral memes have been sold, with the Nyan Cat sold for $550,000 and the Bad Luck Brian sold for $36,000.
In a record token sale, Clover successfully completed the round 1 sale of its token CLV on Coinlist. With over 200,000 queuing up just before sales commenced, in less than two hours, transactions put a strain on Coinlist’s systems.
Platforms have teamed up to test how NFTs could help music artists manage their event bookings.
Many citizens from developing nations are working abroad to improve the quality of their lives and support their families. At the same time, financial institutions are using them to take huge cuts from their remittance payments.
According to a report, there is a 5.3% increase in its holdings with new whales having in possession 100,000 BNB and 1,000,000 BNB.
Users will be able to purchase FC Barcelona Fan Token (BAR) using Binance Coin (BNB) at a 30% discount for three hours prior to its trading.