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 crypto industry is expected to register heightened volatility in the coming weeks amid high-impact news, especially in the United States.
Altcoin Season Index reading indicated that it was still a Bitcoin season as most altcoins underperformed BTC.
While Solana’s recovery and transaction volume are promising, the overall market conditions may still pose challenges.
The Chainlink network has grown to a major tokenization platform for real-world assets fueled by institutional investors seeking to tap into the Web3 ecosystem.
The digital asset will be fully backed by reserve assets held in regulated and authorized institutions within Hong Kong.
With the Chang hardfork going live, ADA holders will be in control of Cardano’s governance thereby voting on key development projects and electing representatives.
DeFi tokens and meme coins in the Ethereum ecosystem have the highest centralization, with the top 10 investors controlling the lion’s shares.
Binance’s mysterious tweet “BNSOL” and Bitget’s “BGSOL” hint at new staking products with Solana.
When the token makes its debut on OKX, it is poised to attract considerable interest from both gamers and traders.
This new burn mechanism is significantly reducing the amount of SHIB in circulation, as evident in the recent percentage burn rate reported.
The Gnosis Chain community is exploring alternative solutions to replace xDAI. Among the proposed options is the adoption of another decentralized stablecoin.
The court ruled that the case against Musk and Tesla, regarding their Dogecoin relationship, was not based on facts but on personal opinions and hopes.
The most significant portion of the supply, 5.22 billion SUI or 52.17%, is still locked under the “TBD locked” category.
Merkle said the event is scheduled to last for only one week starting from Thursday August 29 to September 5. This event is designed to ensure sufficient liquidity for the platform’s tokens.
DOGS’ airdrop of 440 billion tokens from a 550 billion total supply quickly captured user interest amid ton blockchain’s temporary outage.