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.
Onyxcoin (XCN) has skyrocketed by more than 300% in the past week alone and is predicted to move 10x, hitting a new peak this cycle.
Coinbase’s CEO Brian Armstrong said the exchange has cleared the backlog in Solana transaction delays over the past few days.
Is the short-term scare turning whales into paper-hands or is a downfall coming for the top DeFi tokens?
Will Chainlink (LINK) price reach $32 as sellers control the $27 to $29 zone amid rising optimism?
Monero’s breakout from a prolonged consolidation phase between $100 and $200 suggests renewed bullish sentiment.
Solana price has surged past $255 extending weekly gains to 35%, driven by heightened network activity from the launch of TRUMP and MELANIA meme coins.
The Shiba Inu community celebrated a 600% surge in its burn rate, fueling optimism for price appreciation.
Will Dogecoin reach the $0.50 psychological mark as the ETF news and whale activities fuels breakout rally chances?
Cardano network growth is on the rise with daily active addresses reaching 50,828 while ADA token briefly claimed $1 and then dropped to 98 cents later.
VeThor (VTHO) has shot up a monumental 108% in the past 24 hours, bringing out a God candle on the daily chart with a peak of $0.01071.
Coinbase is seeing intense congestion on the Solana network, causing deposit and transfer delay.
It might be safe to say that Trump is taking a rather bold approach in his plans to dismantle bureaucratic inefficiencies and promote innovative governance.
CrossFi also announced a trading competition that includes an all-expense paid luxury trip to Dubai for the person who has the highest 90-day XFI trading volume.
Solana’s total value locked (TVL) has exceeded $10 billion, for the first time since the FTX collapse, which sent shockwaves across the crypto ecosystem.
The listing of VeThor Token (VTHO) on Upbit fueled a dramatic 230% price increase and a 5000% surge in trading volume.