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 Cardano network has grown to a highly decentralized web3 ecosystem backed by a vibrant community of investors and DeFi developers.
Upbit lists the DRIFT token, allowing traders to trade it against KRW, BTC, and USDT, boosting options and visibility for Drift ecosystem.
Polkadot price has established a robust support level above $3.6 in the past year, which is a basis for the ongoing bullish outlook.
Solana (SOL) price has surged past the $200 mark benefiting from recent Federal Reserve rate cuts and broader market optimism after Trump’s election win.
Trump-themed memecoins, including MAGA (TRUMP) and MAGA Hat, saw initial post-election spikes, only to suffer steep declines within a day dropping 50% each.
Wintermute’s proposed solution is to activate a “fee switch”, which would allocate a portion of Ethena’s revenue directly to sENA holders.
The trading volume of LINK increased by 78.85% in the past 24 hours to $499 million while its market cap stood at $7.41 billion, making Chainlink the 14th-largest cryptocurrency.
Solana’s climb has now placed it as the fourth-largest cryptocurrency position, following only Bitcoin (BTC), Ethereum (ETH), and Tether’s USDT.
Uniswap is breaking multi-month price levels amid ongoing bullish rally.
Following the announcement of Donald Trump as the next US President, Dogecoin (DOGE) led the meme coin sector with a 28% gain.
The Chainlink ecosystem has grown in the past few years backed by reputable Web3 companies and financial institutions seeking to offer scalable smart contracts.
The TON ecosystem is in distress in line with the broader market, but there is a catch ahead.
The success of Dogecoin and the rest of the meme coins will happen irrespective of who wins the US 2024 presidential election.
A major whale sold 357,070 SOL (worth $58.54 million), contributing to this Solana price decline and reducing Solana’s market cap by more than $8 billion over the past week.
Leading crypto firms including Paxos, Kraken, Galaxy Digital, and Robinhood announced the formation of the Global Dollar Network to enhance stablecoin adoption globally.