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.
Binance’s new trading stocks tokens feature has received a positive response from users worldwide with the TSLA/BUSD trading pair seeing strong volumes. The new feature allows global investors to participate in traditional stock markets.
Many believe that Ethereum is still undervalued looking at the real-world utility of its blockchain.
The grant aims to support research that will hopefully make the applications of Dusk Network more mainstream.
Origin Protocol (OGN) has entered into a partnership with Google Cloud to set up a marketplace for users where they can create and sell NFTs.
The new NYSE NFTs are available for sale on Crypto.com and represent the first trade of different public listed companies on the exchange.
The support for excellent cryptocurrency startups and projects has impacted the exchange’s native cryptocurrency – the GT Token.
Binance will use its BUSD stablecoin to price the tradable stock token.
The Biden administration is advertent on the threats the digital yuan poses to the US dollar and its status as the world’s economic power. This follows a heightened effort from China to launch its CBDC early next year.
With the recent explosion in the NFT market, Topps is seeing an encouraging trend and demand for NFTs. However, the company said that the pandemic reignited the demand for physical cards pushing Topps’ sales 23% north last year.
Jamieson created his arts by using high-resolution images of his previous works and minting them to be uploaded on the NFT marketplaces for sale.
The launch of any crypto or NFT product by GameStop may stir a positive sentiment on the part of digital currency investors, a situation that may impact the company’s stock.
According to Veteran Analyst Peter Brandt, XRP has formed an interesting head and shoulder pattern which signals a bullish run.
Shooting 27% BNB price has surged past $600 for the very first time. With the surge, Binance Coin has registered nearly 1300% gains year-to-date beating some of the biggest traditional banking institutions.
The question on Ripple’s valuations and its XRP holdings came after XRP jumped over $1 despite the ongoing legal battle with the US SEC.
Scott Melker is more optimistic and bullish on Ethereum rather than Bitcoin. Using ETH is not easy, but “the amount of building that’s happening on Ethereum, the amount that was staked in an Ethereum 2.0” demonstrates that Ethereum is performing exceptionally well.