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.
The new Gemini Earn crypto-interest product seamlessly integrates with some of the company offerings like Gemini custody and exchange services.
Konstantin Anissimov, Executive Director at CEX.IO, shares his insights about the Bitcoin (BTC) and Ethereum (ETH) weekly recap.
The collaboration with Tegger is a further boost for Props after the project was recently listed on several big non-US cryptocurrency exchanges, including OKEx and KuCoin.
The complaint alleges that John DeMarr and Kristijan Krstic violated federal securities laws during the raise back in 2018 and accuses DeMarr and his associate and company promoter Robin of aiding and abetting.
The Coinbase direct listing on Nasdaq is set to attract more investors into the crypto market industry.
Aside from the AI, Level01 displays few great innovations such as providing traders the ability to swap USDT to LVX or vice versa on the app itself, skipping the need to go to exchanges.
A clear example of Nimbus taking the best measures to protect decentralization is the fact that only 10 percent of the Nimbus Governance Tokens shall be reserved for the Nimbus organization.
Litecoin, the 5th altcoin based on the total market cap, has been quiet recently in terms of new updates and partnerships. Litecoin brands themselves as the Silver of the crypto-assets, whereas Bitcoin is Gold.
From Gene Simmons’ list of digital assets, both XRP and Dogecoin have been involved in tremendous gains in the past few days mostly fueled by the WallStreetBets speculation frenzy.
Speaking about Bitcoin, Elon Musk stated that the asset “is really on the verge of getting broad acceptance by sort of the conventional finance people.”
Some analysts in the crypto industry say that the current price of XRP is unsustainable.
While Bridge Mutual is relatively young, its offerings are game-changing as it seeks to bring the profits of mainstream insurance businesses to the lovers of blockchain and decentralized finance innovations.
Despite its popularity as a platform for DeFi applications, the rampant growth in both the number of DeFi applications and the number of users has put a strain on Ethereum’s infrastructure, leading to a number of challenges that many Ethereum DeFi users now face on a regular basis.
Visa sees two classes of digital assets. New assets, like Bitcoin (BTC), are “digital gold.” Fiat-backed currencies, as well as stablecoins and central bank digital currencies, represent another class.
The blockchain startup noted that the SEC is unwilling to accept XRP’s utility. The Ripple general counsel also said that the SEC action has unnecessarily created doubt among investors leading to their huge financial losses with falling XRP.