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 INX Digital Company announced the listing of Solana (SOL), TRUMP, and MELANIA meme coins on its regulated trading platform INX.One.
The whale wallet deposited 500 billion PEPE tokens on leading crypto exchange Coinbase but still holds $15.73 million in PEPE.
The SUI blockchain is now the first Move-based chain to get Phantom’s complete support. However, is this enough to end the ongoing selling spree in SUI price?
Trump Media’s Truth.Fi launch aims to diversify investments and explore digital financial services, backed by a $250 million commitment.
Ripple is aiming for broader adoption of RLUSD by targeting major exchanges like Coinbase, Binance, and Bybit, despite facing technical and regulatory challenges.
Ai16z has changed its brand name to ElizaOS to drive global acceptability of artificial intelligence solutions
With the Toncoin bulls aiming for a recovery rally, the growing supply hints at a potential trap. So, should you consider buying the recent dip in TON price amid breakout chances?
Tether’s USDT failure to meet MiCA compliance rules prompted the delisting.
Venice AI Token, Bitcoin, XRP, and other cryptos spark market conversations, with mixed reactions and potential growth.
dogwifhat (WIF) soared a massive 20% in a single four-hour candle earlier today as a whale wallet purchased 900K WIF tokens.
Solana’s recovery from a recent dip, along with renewed ETF filings, has sparked optimism for a potential price surge.
Dogecoin price may be setting up for a significant rally, possibly reaching $3.0, as demand surges following Bitwise’s filing for a spot Dogecoin ETF.
The Trump meme coin has found new use cases with multiple Trump-associated platforms allowing customers to pay for orders using the token.
Following suspicious trading activity during Venice’s VVV token launch, Aerodrome Finance took immediate action by suspending two contributors, earning praise for transparency.
The Santos FC Fan Token (SANTOS) experienced a remarkable 19% price surge following hints about Neymar’s potential return to his former club, signaling renewed investor interest in the sport-backed cryptocurrency.