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 market cap of AI meme coins has skyrocketed to $1.9 billion, driven primarily by Goatseus Maximus (GOAT) and Turbo (TURBO), which together accounted for 60% of the trading volume at $360 million.
The Solana network has significantly outpaced the Ethereum network in the recent past on web3 activities fueled by its meme coin space growth.
Scroll launched its SCR token to decentralize governance, reward contributors, and allocate $100 million for community innovations and projects.
The rise of Ethereum’s DeFi space has significantly helped Uniswap (UNI) to grow to a leading decentralized exchange (DEX) in the recent past.
Avalanche price has dropped despite the announcement of a new payments card for users
Aptos (APT) price is largely attributed to a significant increase in total-value-locked (TVL), which hit an all-time high of $920 million.
ApeCoin has doubled in value, with bullish options activity suggesting traders are optimistic about further growth, driving up open interest by over 800%.
Scroll Layer-2 protocol has released the tokenomics of its first airdrop campaign to reward early contributors.
The Simon’s Cat meme coin was recently launched on the Binance ecosystem with the support of Floki Inu, thus attracting significant attention from traders.
The meme coin Goatseus Maximus (GOAT) experienced a dramatic 50% drop in value, falling from $0.40 to $0.20, following concerns that the AI-driven platform “Terminal of Truths”.
JPYC and ITCEN are keen on bringing to the fore a reality where stablecoins can be used to facilitate faster, more secure, and efficient transactions across international borders.
The Solana blockchain has threatened to dethrone the Ethereum network as the largest DeFi ecosystem backed by vibrant meme coin projects.
The NFT-focused DeFi project announced the launch of its mainnet dubbed Apechain to ensure sustainable future growth of ApeCoin.
X Empire teams up with Hrum, providing long-term X token holders access to exclusive airdrop rewards and community engagement opportunities.
The Scroll’s SCR token airdrop via Binance has attracted over 1.6 million participants through the BNB and FDUSD liquidity pools.