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.
Centrifuge platform intends to provide fast liquidity through lending to the RWA market on the secure Base network.
The shift from TFL to community management will significantly impact the Terra ecosystem and the LUNA token.
Open interest, which measures the number of unsettled crypto derivatives contracts, can offer insights into market sentiment and future price movements.
Shiba Inu’s upcoming DAO will give Leash token holders an important role in maintaining order, protecting the ecosystem, and governing the community’s sustainability initiatives.
The phased implementation strategy ensures that the RBI can address any challenges that arise, making the CBDC a robust and reliable tool for the future.
The VeChain ecosystem has grown rapidly in the past years to encompass decentralized community governance through the VeBetterDAO.
Based on the announcement, the Meowdrop Campaign is billed to go live in the Catizen bot on August 29.
Tron increases its energy cap to 120 billion to increase network activity and lower gas fees.
The current market cap does not include algorithmic stablecoins, which rely on mathematical models rather than external assets.
Solana’s immediate hurdle is the $162 resistance. Clearing this level could open the door for further gains, with the subsequent resistance at $165.
Durov’s detention has sent shockwaves throughout the cryptocurrency community, prompting strong reactions from various industry leaders.
Nvidia is poised to publish its Q2 earnings report on Wednesday, and AI tokens are recording massive gains.
The launch of the Shiba Inu burn portal ShibTorch has also increased the odds of a SHIB rally ahead as it seeks to burn more tokens from Layer-2 Shibarium network.
Following the airdrop claims, Orderly Network’s native token ORDER will be listed on various CEXs starting at 10:00 AM UTC.
The market cap of the DeFi crypto sector currently stands at $61.32 billion, reflecting a 3.13% decline in the last 24 hours.