What are Altcoins? (Video)
Thanks to the rapid development of DeFi, some altcoins such as Ethereum, Chainlink, and Compound are getting attention from more investors worldwide, giving altcoins and AltSeason another push. Watch this video to learn about what altcoins are and how they are unique from Bitcoin.
Altcoins = Alternative coins or Alts for short. Altcoins refer to all cryptocurrencies besides Bitcoin. Why do people create altcoins? Bitcoin has its own constraints and shortcomings. People created altcoins to improve Bitcoin's model. So as to fulfill different niche demands. Such as better privacy, lower transaction fees, and higher scalability.
How many Altcoins are there in the market? There are over 5,000 Altcoins, accounted for around 40% of the total crypto market cap (As of August 2020).
What are the popular Altcoins? Ethereum, Ripple, Litecoin, Tether, and Chainlink are popular.
How is the performance of Altcoins? Altcoins outperform Bitcoin from time to time. Depending on market trends, for example, in late July 2020 DeFi Altcoins, led by Ethereum, outperformed BTC significantly. Forming a new round of Altseason which means a bullish cycle of Altcoins.