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 Solana (SOL) network has significantly benefited from meme coin trading, with dogwifhat (WIF) as the largest by market cap and daily trading volume.
$HMSTR distribution, originally planned for late July, has been delayed due to technical issues and the overwhelming number of users. The developers are working to ensure a smooth and fair launch for nearly 300 million users.
A new proposal seeks to reform the existing “seize and sell” loan liquidation process which hasn’t been good for the AAVE price action and replace it with a “seize and burn” strategy.
Avalanche (AVAX) price has seen a reversal of its fortune, and a potential upward trend might already be in play.
OKX decided to phase out FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, and WNCG/USDT.
Besides introducing the new governance token, MakerDAO plans to debut a new stablecoin dubbed NewStable (NST).
Bybit revealed that TON is making progress on its goal of onboarding billions of Telegram users to Web3.
The Trump-themed meme coin MAGA has experienced a 20% rise in value, accompanied by a 100% increase in trading volume, now at $6.92 million.
The ongoing issues have led to confusions and frustration among Hamster Kombat’s large user base.
The platform’s multichain support is a key feature, allowing tokens to be deployed on various blockchains in seconds.
Web3 game Shiba Eternity is currently running on the Shibarium mainnet thereby providing a decentralized gaming experience that represents players’ inventory cards as NFTs.
The introduction of these mini-games highlights Catizen’s strategy to provide a richer and more interactive experience for its users.
Bitget believes that PayPal’s involvement in the stablecoin market will significantly boost global awareness and help bring the industry into the mainstream.
A day after enabling the conversion, Coinbase plans to introduce a new EURC-USDC order book.
Hong Kong’s SFC is keenly focused on investor protection and robust know-your-customer (KYC) protocols.