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.
Bitcoin rallied over 3% to $66,000 as investors cheered Democratic candidate Kamala Harris’s proposal for clearer crypto regulations.
The approval comes under the Central Bank’s recently established Payment Token Service Regulation framework.
The rising adoption of meme coins across different blockchains will help Dogecoin (DOGE) price eventually reach the psychological target of at least $1 in this cycle.
Following SpaceX’s Starship test, space-themed tokens saw dramatic price spikes, driven by market hype, followed by sharp declines.
The altcoin market is experiencing volatility as over $500 million worth of tokens are set to be unlocked this week, including $80 million in Worldcoin (WLD).
The Avalanche network is in the spotlight amid price rallies and proposed AVAX repurchase.
India’s central bank governor said that the country’s ongoing work with CBDCs could be the key to making cross-border remittances more affordable and efficient.
Vitalik Buterin, the co-founder of Ethereum, has sold approximately $1.6 million worth of meme coins to convert into Ether for charity donation.
X Empire to end Chill Phase in four days, announces OKX listing with key dates for deposits, trading, and airdrop.
Ethena Labs has proposed adding Solana (SOL) to the collateral mix of its synthetic stablecoin USDe, targeting a $100-200 million initial allocation.
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Flare Labs announced a retroactive airdrop for FAssets beta participants, with eligibility based on active engagement and wallet restrictions.
The long-awaited airdrop of X tokens is scheduled for October 24.
With Donald Trump making significant gains over Kamala Harris on Polymarket prediction platform, Trump-themed meme coins are having a gala period despite broader market correction.
Uniswap Labs’ announcement of Unichain, its own Ethereum-based blockchain, led to a 6% increase in the UNI token’s value.