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.
Bithumb, South Korea’s second-largest crypto exchange, has listed Korean won trading pairs for BounceBit (BB) and SKALE (SKL), driving notable gains in the past 24 hours.
Vitalik Buterin has converted meme coins to Ethereum with a new and recent donation to advocacy group Coin Center.
WalletConnect is set to reward early participation with a total of 50 million WCT tokens earmarked for distribution as airdrop.
Researchers at DWF Labs highlighted that the election of Donald Trump in the United States has significantly shifted the crypto market adoption by institutional investors.
Solana-based Peanut the Squirrel (PNUT) meme coin has seen a sharp decline and continues to trend downward from its all-time high of $1.95 in mid-November.
Longo has launched JUSTICE and has maintained that it is the only coin he will ever launch.
Despite Bitcoin’s 5.24% drop to $93,000, traders are actively discussing and investing in altcoins like The Sandbox (SAND), Stellar (XLM), and Ethereum (ETH).
The dog-themed meme coin WIF has now been listed by top-tier exchanges including Binance and Coinbase, signaling its heightened demand.
Despite the ongoing copyright controversy, Chill Guy’s cultural appeal continues to drive its value in the volatile world of meme coins.
Non-fungible tokens are gradually rebuilding momentum with MANA and SAND now soaring to new weekly highs.
From all indications, Solana looks to be showcasing a growing dominance in the blockchain space.
Heightened crypto cash rotation has increased the overall volatility in the altcoin ecosystem led by Dogecoin (DOGE), XRP, and XLM among others.
PEPE meme coin crashed 2.56% in the past day after a super PEPE whale sold a massive 74.07 billion tokens and bought EIGEN tokens worth $200K.
Tether issued an additional $3 billion in USDT tokens in November, with $2 billion minted on Ethereum and $1 billion on the Tron network.
Deribit has integrated Ethena Labs’ USDe as a collateral asset.