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.
X Empire has set an October 31 deadline for NFT-to-X token conversion, sparking mixed reactions.
At the Plan ₿ Forum, Tether CEO Paolo Ardoino revealed the company’s extensive reserves, including $5.58 billion in Bitcoin, $3.87 billion in gold.
Catizen offers players the chance to earn rewards by interacting with its games, mainly through a roulette game where users spin a wheel to win different types of rewards.
Chainlink price rallied nearly 5 percent in the last 24 hours as several technical indicators point to a potential bullish breakout soon.
MemeFi’s $MEMEFI token debuted on OKX for pre-market trading amidst a price dip and a new partnership with Mysten Labs.
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X Empire token’s launch saw price spikes on KuCoin, drops on other exchanges, and controversy over its airdrop distribution.
Sui price is currently retesting the recent breakout from its previous all-time high and is technically aiming for $2.8 in the near term.
Per IntoTheBlock data, Dogecoin and Shiba Inu are among the longest HODLed coins in the market.
Solana-based meme coin POPCAT has outperformed the broader meme coin market, achieving a new all-time high of $1.66 after a 12% surge in 24 hours.
South Korean crypto exchange Upbit announced the listing of SAFE, the native cryptocurrency of the Web3 ownership layer Safe.
Bybit adds support for X Empire’s $X token for trading, expanding the number of digital assets available for users.
The meme coin ecosystem on the Solana network has surged to more than $11.7 billion and a daily average traded volume of about $3.8 billion.
Four months after the official launch, Tomarket has attracted around 9 million daily active users, signaling its immense potential ahead of the token launch.
Robinhood adds Stellar (XLM) to crypto transfers, enhancing user options and offering a 1% bonus for XLM deposits on the platform.