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.
Heavily backed by the Binance exchange, the FDUSD stablecoin was previously available on Ethereum, BSC, and Sui networks.
The Chainlink Runtime Environment upgrade is finally live in the Oracle network’s bid to drive friendly developer engagements.
Earlier today, the Hedera team announced that the Nairobi Securities Exchange (NSE) has joined the Hedera Council to accelerate tokenization initiatives.
After recent selling pressure, SUI has seen a 10% price gain, suggesting renewed buying momentum.
dYdX’s major layoffs and declining TVL highlight ongoing market pressures, with a mixed response from investors reflected in DYDX’s fluctuating price.
The price of Shiba Inu has continued on its uptrend despite ongoing Shibarium transaction slipoff.
The Cardano network has suffered a low adoption rate compared to rival chains, such as Solana (SOL) and Toncoin (TON), despite notable developments.
In October, Solana has outperformed Bitcoin and other altcoins, gaining 15% and eying for a potential rally to $200 and above.
With the US Treasury bills as backing, Solayer’s sUSD stablecoin aims to bring a new level of stability and yield for DeFi users on the Solana blockchain.
Fetch.ai successfully integrated with the CUDOS mainnet through a network upgrade, merging CUDOS tokens and enhancing decentralized computing capabilities.
Dogecoin (DOGE) is leading the meme coin market recovery supported by other players like Shiba Inu, POPCAT, and FLOKI with each gaining 10-15%.
Solana has registered a high transaction fee compared to Ethereum in the past 24 hours as it entered the top 5 networks for this metric.
The Solana network has significantly outshined Ethereum in its Web3 on-chain activity in the recent past fueled by its thriving memecoin ecosystem.
According to the team, “big things are on the way” for Shiboshis on Shibarium.
Crypto analyst Ali Martinez suggests a 25% rally if DOGE surpasses the $0.143 resistance level, targeting $0.175.