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.
Algorand is on a fast-paced surge to $1 amid a boom in Open Interest and general market outlook.
The launch of the Hyperliquid L1 network with a native order book DEX has attracted notable attention from crypto traders due to its high speed and deep liquidity.
The leading blockchain firm has been steadily increasing its ENA holdings over the last three weeks.
Bithumb’s announcement of listing Virtual Protocol’s token VIRTUAL on its KRW market has fueled a 43% price surge, with trading set to start today.
Despite early success, Hamster Kombat faced challenges like a controversial airdrop and fluctuating token prices.
Coinbase CEO Brian Armstrong’s endorsement of ENS as an essential component of the “Internet of Money”.
The token will power several areas of Hyperliquid’s ecosystem.
Hayes accumulation in the last few days have undoubtedly impacted ENA price.
A CONSENT liquidity pool has been set up on Raydium Liquidity, which will further open the token to a wider audience and increase its usability within the Solana ecosystem.
The stablecoin market has not only recovered but thrived, showcasing remarkable resilience and adaptability.
Dogecoin growth has hit a new milestone as its $57.8 billion market cap has outpaced that of Porsche.
CryptoQuant CEO Ki Young Ju explains that the delay in altseason is due to the dominance of institutional investors and spot Bitcoin ETFs, which typically don’t rotate their capital into altcoins.
Solana-based meme coin Dolos the Bully (BULLY) has seen explosive growth gaining 700% over the past week reaching an all-time high of $0.2441.
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