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.
A crypto trader earned nearly $1 million within three hours by investing 2 SOL, worth $460, in the Solana-based meme coin Quant (QUANT), achieving an extraordinary 2,141x return.
The blockchain analysis platform explained that the 0x1406 wallet owner, who is probably Ryoshi, has remained calm under pressure and retained the SHIB holding since the beginning.
With BARSIK now a top 250 crypto asset by market cap, there’s every sign that this is a coin that’s going to go the distance.
Dogecoin (DOGE) and XRP contribute 30% and 20% of trading activity on South Korea’s leading exchanges, Upbit and Bithumb, overtaking Bitcoin.
The Sky Ecosystem oversees USDS and has partnered with key Solana platforms, including Jupiter Exchange, Raydium, Orca, and Phantom, to improve the stablecoin’s usability and accessibility.
Despite the excitement, some signs of consolidation began to appear as the price showed signs of sell pressure.
The rising demand for the altcoin market by institutional investors has given undervalued blockchains a more bullish outlook.
Solana has continued to soar amid the impressive prospect of the coin outshining its top rivals.
With Hamster Kombat planning for a strong comeback, other Telegram Mini Apps are also gaining traction.
The combined market cap of AI coins and Big Data tokens has soared 130% over the past five months, reaching $42.1 billion, driven by Bitcoin’s climb to a new all-time high.
The demand for Dogecoin by whale traders has significantly increased in the recent past with Musk reminding investors that he is the Dogefather.
Hedera’s native cryptocurrency HBAR has gained 35% in the past 24 hours, bringing its market cap to $4.25 billion and securing a spot in the top 30 cryptocurrencies.
PNUT jumped to $1.90 after the HTX listing, fueled by viral fame and celebrity backing, reaching a market cap of $1.7 billion in days.
The Sui network is well bolstered by the institutional investors’ adoption led by VanEck and Grayscale.
Tether CEO Paolo Ardoino emphasized that supporting Quantoz reflects Tether’s commitment to fostering innovative and regulated solutions in the digital asset landscape.