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.
Developer thinks the Truth Terminal bot could be the first artificial intelligence millionaire.
Tether is the most used stablecoin in the crypto ecosystem as users consider it an alternative to fiat.
The Tron network has grown to over 153 million holders mostly holding its stablecoins and speculating on its meme coins led by Sundog (SUNDOG).
Having latched on to the growing popularity of Base, NEIRO looks set to onboard millions of new users.
Starting October 24, X Empire’s native token X will be available on Telegram-based Wallet, allowing users to trade and send tokens for free within the platform.
The DeBridge protocol designed the DBR token to decentralize governance power to the community through the use of the DAO.
Solana might retest $200 price mark soon if the key on-chain growth markers are validated.
BitGo extended support for Sui ecosystem, adding custody for NS and DeepBook, and enhancing decentralized identity & trading services.
Trust Wallet has unveiled its Launchpool service in its bid to support promising projects and empower users in its ecosystem.
The Ethereum network has registered a huge influx of Layer Two (L2) scaling solutions, led by Base, but some observers are worried about its declining revenue.
Dogecoin experienced a 3% price increase as Grayscale hinted at potential listing of the meme coin.
The open interest for Solana meme coin BOME has reached an all-time high of $161.97 million, signaling that traders are increasing their positions.
The X Empire team previously hinted that many more exchange listings would come as time goes on.
Hamster Kombat has disclosed the wallet addresses holding its vested tokens, with the HMSTR token seeing a 4% rise on Tuesday.
Solana has seen its total value surge to its highest level since January amid growing meme coin hype.