Category Archives: Altcoin
Four Under-the-Radar Altcoins Explode 113% or More in Just Seven Days As Bitcoin (BTC) and Ethereum (ETH) T… – The Daily Hodl
Four low-cap altcoins are erupting, printing massive gains this week as large-cap crypto assets Bitcoin (BTC) and Ethereum (ETH) continue to consolidate.
One of the hottest altcoins this week is LOOKS, the token of community-first non-fungible token (NFT) marketplace LooksRare.
LOOKS has a market cap of over $627 million and surged from a seven-day low of $1.75 to a high of $4.95, representing gains of 180% in just one week.
LOOKS has retraced since and is now exchanging hands at $4.59.
Next up is FUSE, the primary token of the community-centric payments system Fuse Network. In the last seven days, FUSE rose over 124% from a low of $0.83 to a fresh all-time high of $1.86.
FUSE has pulled back from its record high and is now valued at $1.52.
Another altcoin putting up a solid performance this week is ANY, the governance token of the Anyswap decentralized cross-chain protocol. The digital asset with a market cap of $502 million skyrocketed from a weekly low of $15.28 to a high of $33.27, good for a 117% rally.
ANY has given up some of its gains and is currently trading at $27.32.
The last coin on the list is BOO, the governance token of Fantom-based automated market maker and decentralized exchange SpookySwap. BOO posted gains of 113% this week, rallying from a low of $18.59 to an all-time high of $39.73.
BOO has also corrected from its all-time high, trading at $32.91 at time of writing.
Featured Image: Shuterstock/Alexxxey/Mia Stendal
The Most Undervalued Altcoin in DeFi Could Blow Up 5X This Year, According to Coin Bureau – The Daily Hodl
The host of popular crypto channel Coin Bureau is looking at whats in store for decentralized lending and borrowing protocol Aave (AAVE).
In a new video, the pseudonymous analyst Guy tells his 1.87 million YouTube subscribers that the overall decentralized finance (DeFi) sector is coming off a slump compared to the rest of the crypto markets.
The AAVE token has performed poorly and is barely up 2x since the start of 2021. Just about every DeFi token has been struggling to keep up with the rest of the crypto market since it crashed in May last year.
This seems to be because the hype has moved into NFTs [non-fungible tokens]. This is something that [AAVE founder and CEO] Stani Kulechov acknowledged in an October panel discussion.
He basically said that while DeFi is very exciting and often offers lots of gains, its just too complex for the average person to wrap their head around.
Meanwhile, NFTs provide comparable levels of excitement and gains, and theyre a concept that almost anyone can understand.
Last year Aave climbed from under $100 to an all-time high above $660 on May 18th before crashing by over 70% to $184 by late June. After clawing its way back to over $400 by mid-September, the altcoin ended the year on a downward trend until a rally in late December which took AAVE from $180 to $255.
The Coin Bureau host notes that Aaves upcoming V3 upgrade ought to increase interest in the project.
The most important upcoming milestone is the launch Aave V3, which will introduce multiple new features to the Aave protocol.
The first is a feature called Portal and it will make it possible for lenders and borrowers to transfer any tokens they have deposited into Aave V3 on one blockchain to Aave V3 on other blockchains.
The second feature is called high-efficiency mode, or e-mode, and it will make it possible to significantly increase the loan-to-value ratio for certain assets
The third feature on Aave V3 is Isolation Mode and it will make it possible to introduce new tokens to the Aave protocol while minimizing the risks to the rest of the protocol.
Guy also mentions Aaves plans to impact the future of social media by releasing a decentralized social media platform where users cannot be censored or deleted.
Aaves social media platform will be built in such a way that your social media profile, as well as any other content you create on Aaves platform, will be portable to any other decentralized social media platforms that emerge on Ethereum, effectively making censorship impossible.
In terms of a specific release date, Aave said its social media platform is coming soon and its been slow to roll out because the team has been mostly focused on Aave v3 for the last few months
Stani believes decentralized social media will be the next hot niche after NFTs.
The analyst concludes by giving his price predictions for AAVE.
With a market cap of just $3 billion, this means that AAVE could be undervalued by a factor of five, and its fair valuation could be well over $1,000.
At time of writing, AAVE is up 2.93% on the day and trading for $217.36.
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The Most Undervalued Altcoin in DeFi Could Blow Up 5X This Year, According to Coin Bureau - The Daily Hodl
BitMEX Co-Founder Arthur Hayes Issues Altcoin Warning, Says Everything but Bitcoin and Ethereum Could Crash… – The Daily Hodl
Arthur Hayes, the former chief executive of crypto derivatives exchange BitMEX, is issuing a warning to investors, saying that all crypto assets apart from Bitcoin (BTC) and Ethereum (ETH) could see devastating losses.
In a new article, Hayes says that if BTC and ETH dip below $30,000 and $2,000 respectively in the coming months, hed consider dumping all of his other crypto assets as they could see staggering losses.
If I believe that Bitcoin could trade below $30,000 and Ether below $2,000 in a three-to-six month time horizon, I will dump all of my sh*tcoins. That is because Bitcoin and Ether are the highest quality coins, and they will decline less than all their yet-to-be-proven competitors.
Any specific applications that use the Bitcoin or Ether blockchain will also experience gravity at greater than 9.8m/s. These sh*tcoins could go down 75% to 90% in a true crypto risk-off environment.
Hayes also says that if BTC and ETH correct below their previous bull market highs, he would begin to question the value of the two largest crypto assets.
If Bitcoin trades at or below $20,000 or Ether trades at or below $1,400, then I will start to wonder whether these cryptos can preserve their value in energy terms.
Those two levels were the previous all-time highs during the 2017 bull market. But thats the fiat price, if oil goes negative again then who cares if the benchmark cryptos fetch fewer fiat units?
BTC is exchanging hands at $42,014 at time of writing, an 20.98% decrease from its 30-day peak of $50,830 while ETH is trading at $3,134, a 35% decrease from its 30-day high of $4,179.
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This `Altcoin` gained 1,300 % in 2021. So what is this cryptocurrency segment? – WION
Binance Coin, or BNB, surpassed its two larger rivals, Bitcoin and Ether, among the three largest digital assets by market capitalization.
With a gain of 1,344 per cent, Binance Coin (BNB) has outperformed the three largest cryptos by market capitalization, while the Binance Smart Chain ecosystem has witnessed enormous growth in 2021, stealing some of Ethereum's market share.
In comparison, market leader Bitcoin grew by 65%, while Ether, the second-largest token, grew by 408%.
The old guard of cryptocurrencies has lost ground to tokens with higher returns this year.
The tendency is expected to continue, according to researchers.
World Business Watch: Britain bans Binance's UK operations in latest cryptocurrency crackdown
What is Altcoin, how is it different from Bitcoin?
Alternative digital assets, such as a coin or token that is not Bitcoin, are referred to as altcoins.
This terminology stems from the notion that Bitcoin is the first cryptocurrency, and all others are "alternative" or "alternative" coins.
The word "altcoin" is also loosely applied to digital assets that are officially "tokens" rather than coins.
The ERC-20 tokens, which run on the Ethereum blockchain, are the most well-known instances.
More than 2,000 alternative cryptocurrencies have been implemented since the launch of Bitcoin in 2008.
Through a process known as Hard Fork, many of these altcoins were formed as modified copies of Bitcoin.
Despite some similarities, each altcoin serves a distinct purpose.
(With inputs from agencies)
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This `Altcoin` gained 1,300 % in 2021. So what is this cryptocurrency segment? - WION
How Much Would Shiba Inu Soar if Robinhood Adds the Altcoin? – The Motley Fool
What's next for Shiba Inu (CRYPTO:SHIB)? That's a natural question to ask after the digital token skyrocketed in the ballpark of 52,000,000% this year.
Some predict a huge downturn for the cryptocurrency. Others think that there are still several catalysts that could drive Shiba Inu even higher. One of the most important of those catalysts is the possibility thatRobinhood (NASDAQ:HOOD) could announce support for the coin.
So far, Robinhood executives have dragged their heels when it comes to including additional digital tokens on its trading platform. However, this sluggishness hasn't dampened hopes that a positive decision could be on the way. But just how much would Shiba Inu soar if Robinhood adds the altcoin?
Image source: Getty Images.
Arguably, the best way to determine how much Shiba Inu's price could jump if it's added to Robinhood is to look at the experiences of other digital coins. Robinhood first launched support for cryptocurrency trading on Jan. 25, 2018 (in select markets) with support for Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH).
How much of an impact did this announcement make? Not much. The chart below shows how the two cryptocurrency prices changed then.
Bitcoin Price data by YCharts.
Within a matter of days, the gains for Bitcoin and Ethereum evaporated. But those were and still are the two biggest cryptocurrencies on the market.
Robinhood announced the addition of Litecoin (CRYPTO:LTC) and Bitcoin Cash (CRYPTO:BCH) on July 12, 2018. Their moves were more dramatic on the news, right? Actually, no.
Litecoin Price data by YCharts.
Let's try again. Robinhood rolled out support for Dogecoin (CRYPTO:DOGE) only four days after enabling the trading of Litecoin and Bitcoin Cash. How did Dogecoin fare?
Dogecoin Price data by YCharts.
Unlike its predecessor cryptocurrencies on Robinhood, Dogecoin delivered an impressive gain after being added to the platform. There's a good case to be made that Dogecoin is a better comparison for Shiba Inu than Bitcoin, Ethereum, Litecoin, or Bitcoin Cash.
Both Shiba Inu and Dogecoin are meme coins. Both use the Shiba Inu dog as their mascots. Shiba Inu supporters even invited the comparisons by referring to the token as the "Dogecoin killer."
Should we assume that Shiba Inu's move would be in the same ballpark as Dogecoin's nice jump if Robinhood adds the altcoin? Not necessarily. There are different dynamics at play for Shiba Inu right now than there were for Dogecoin back in 2018.
At the time that it was added to Robinhood, Dogecoin was up less than 750% since its launch. The digital token had plunged more than 80% from its high set earlier in the year. But the really big run-up for Dogecoin was yet to come.
It's currently a very different story for Shiba Inu. As mentioned earlier, the coin has skyrocketed roughly 52,000,000% this year. Sure, Shiba Inu is down 56% below its high mark on Oct. 28, 2021. However, it's a long way from dropping as much as Dogecoin did when it was included on the Robinhood trading platform.
There's also a case to be made that expectations that Robinhood will add support for Shiba Inu are at least partially baked into its price. Investors have been speculating for a while now that Robinhood could soon include the altcoin.
We can't know for sure how much Shiba Inu might soar if and when Robinhood announces support for the cryptocurrency. However, I'll put forward my best guess.
I don't think that investors will essentially yawn as they did when Robinhood added Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. On the other hand, I also don't expect as big of a move as Dogecoin enjoyed.
My hunch is that Shiba Inu could vault 20% to 30% higher if Robinhood decides to include it. We could even see Shiba Inu inch past Dogecoin in the rankings based on market cap.
This assumes, though, that the overall environment for cryptocurrencies is still positive. If that's not the case, all bets are off.
This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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How Much Would Shiba Inu Soar if Robinhood Adds the Altcoin? - The Motley Fool
What is Altcoin, how is it different from Bitcoin? All that investors need to know – Business Today
2021 saw major upheavals in the cryptocurrency market as the good old cryptos like Bitcoin and Ether lost to newer tokens promising much more security of investment and greater returns, also known as altcoins.
Bitcoins performance has been dwarfed by the incredible altcoin growth this year. 2021 has felt like a continuous altseason, only taking a breather during the summer months. This altseason has seen several short-lasting bull runs in various parts of the markets as traders have rotated through the narratives, Arcane Research said in a note.
The research firm further noted that while Bitcoin may have beaten the stock market in 2021, it has been overtaken by other cryptocurrencies this year. Of these, Binance Coin (BNB) has fared as the best performer of the three biggest cryptos by m-cap with a 1,344 percent gain whereas the Binance Smart Chain ecosystem has seen massive growth in 2021 as it took some of Ethereums market share.
WHAT EXACTLY IS AN ALTCOIN?
Altcoins are cryptocurrencies other than Bitcoin. Altcoin is a combination of the words alternate and coin. These coins differentiate themselves from Bitcoin by extending their capabilities and plugging their shortcomings.
As of November this year, there were more than 14,000 cryptocurrencies. Of these, Bitcoin and Ethereum accounted for around 60 percent of the total cryptocurrency market whereas so-called altcoins made up for the rest in November 2021.
TYPES OF ALTCOINS
There are several categories of altcoins on the basis of their functionalities and consensus mechanismsmining-based, pre-mined, meme coins, utility tokens, security tokens and stablecoins.
WHAT IS THE DIFFERENCE BETWEEN ALTCOIN AND BITCOIN?
Basic framework for Altcoins and Bitcoin is similar. However, there are various differences between the two as Bitcoin is the first form of cryptocurrency. Bitcoin has its own share of shortfalls like its proof of work (PoW) mechanism used for creating blocks is energy-intensive and time-consuming. Its smart contract abilities are also constricted.
Altcoins, on the other hand, work on Bitcoins drawbacks and establish a competitive advantage for investors. This is done through the proof of stake (PoS) mechanism aimed at minimizing energy consumption and time for creating blocks and validating new transactions.
Also read: Year Ender 2021: Of endings and beginnings
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What is Altcoin, how is it different from Bitcoin? All that investors need to know - Business Today
Ethereum, Cardano and Three Additional Altcoins Are Top Crypto Assets for 2022, According to Analyst Benjam… – The Daily Hodl
A popular crypto analyst is naming his top altcoin picks as the crypto markets head into a new year.
In a new interview with Altcoin Daily, Into the Cryptoverse founder Benjamin Cowen tells the channels 1.8 million YouTube subscribers that layer-1 blockchain projects are his primary focus of interest.
First and foremost is leading smart contract platform Ethereum (ETH).
Obviously theres Ethereum, but thats sort of the altcoin index.
You want your altcoins to outperform Ethereum or at least oscillate against it. Look at their ETH values over the macro scale.
MATIC I think is a good project, layer-2 scaling I think is important.
But also Cardano, Polkadot, Avalanche.
The multi-chained scaling solution Polygon (MATIC) has gone on an epic run in 2021, rising from $0.03 to a new all-time high of $2.88 last Saturday. MATIC has since corrected and currently trades for $2.49.
Also high on Cowens list is scalable decentralized blockchain platform Cardano, whose native token ADA ranks 6th by market cap. The altcoin has seen a roller coaster of price action, launching from $0.18 to a summer high of $2.91. Currently, ADA is valued at $1.33.
Cross-chain interoperability protocol Polkadot (DOT) ran from a January low under $10 to highs above $47 in May and $54 in November, but has since corrected heavily and DOT now trades for $26.56.
Last on Cowens list of favorites is layer-1 smart contract platform Avalanche (AVAX). The AVAX token started 2021 trading for around $3.50 but has gone on a series of epic rallies, ultimately grinding up to an all-time high of $144.96 in late November. The 11th-ranked crypto asset is exchanging hands for $101.04.
Moving on to his honorable mentions, the popular chart guru likes smart contract platform Solana (SOL), which started the year under $2 and soared to nearly $260 back in November. The altcoin is valued $170.84 at time of writing.
Solana, I think its decent, its a little more centralized than I would like.
But it doesnt mean thats necessarily a bad thing for some people, because some people just prefer that.
Cowen remains interested in oracle network Chainlink (LINK) despite native token LINKs disappointing numbers in relation to ETH.
Chainlink is an interesting one because its one that did really well in the bear market.
I hold it and its not met my expectations this market cycle.
Im looking for that one to do something good in 2022 because frankly, its down 90% against Ethereum over the last 18 months.
Chainlink started the year under $12 and reached an all-time high of $52.70 back in May, before crashing to $20.10 and ultimately $13.88 by July, before grinding its way back up in recent months.
LINK has had a rocky past month, reaching a high of $26.81 before crashing to $17.61 and then climbing back above $24 briefly. Chainlink is trading for $19.62 at time of writing.
In contrast, Ethereum has seen a breakout year, rising over 400% from $730 to its current valuation of $3,647.
Last on the list of runner-ups is Ethereum competitor Terra (LUNA) whose native token LUNA underpins a suite of decentralized stablecoins. LUNA began the year at $0.64 and has witnessed major gains. Currently, its trading for $83.41.
Cowen wraps up by saying,
The main projects that I follow are Cardano, Polkadot, Avalanche, MATIC, LUNA, Solana.
Its really hard to go wrong if you just look at the top 10 or 20. Get layer-1s, a couple of layer-2s, an oracle.
I think thats a great crypto portfolio right there.
I
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Ethereum, Cardano and Three Additional Altcoins Are Top Crypto Assets for 2022, According to Analyst Benjam... - The Daily Hodl
Frax Share, Swipe and Gnosis lead the altcoin market as Bitcoin recovers to $47.5k – Cointelegraph
Volatility is once again the major theme across the cryptocurrency market on Dec. 30 as the price of Bitcoin (BTC) bounced back from an early morning dip below $46,000 with bulls now battling bears for control of support near $47,500.
The altcoin market has likewise been a mixed bag of results on Dec. 30, with many of the coins in the top 200 seeing slight losses while the top performers have posted double-digit gains thanks to major protocol developments and acquisitions.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Frax Share (FXS), Swipe (SXP) and Gnosis (GNO).
Frax Share is the governance token of the Frax protocol, a fractional algorithmic stablecoin system designed to provide scalable and decentralized algorithmic money.
VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for FXS on Dec. 28, prior to the recent price rise.
The VORTECS Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS Score for FXS climbed into the green zone on Dec. 27 and hit a high of 86 on Dec. 28, around 14 hours before the price increased 57% over the next two days.
Gains for FXS token align with the growing adoption of the Frax stablecoin. The circulating supply of FRAX increased by more than 300% in the past two months to its current supply of $1.74 billion.
Another project that saw its price spike over the past 24 hours is Swipe, a platform that is developing card payment infrastructure for the cryptocurrency economy.
Data from Cointelegraph Markets Pro and TradingView shows that, after hitting a low of $1.46 on Dec. 29, the price of SXP surged 38% to a high at $2.02 on Dec. 30 as its 24-hour trading volume spiked 951% to $683 million.
The sudden burst in trading volume for SXP came after it was revealed that crypto exchange Binance was finalizing the acquisition of Swipe and rebranding it to Solar.
Related: Binance to finalize acquisition of Swipe, paving for CEO exit
Gnosis, a decentralized prediction market built on the Ethereum (ETH) network, saw its price increase 38% on Dec. 30.
VORTECS data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on Dec. 27, prior to the recent price rise.
As seen in the chart above, the VORTECS Score for GNO hit a high of 77 on Dec. 27, around 35 hours before the price increased 38% over the next day.
The building momentum for GNO followed the introduction of the zodiac bridge module for the Gnosis ecosystem, which gives decentralized autonomous organizations (DAOs) the ability to control assets on separate Ethereum virtual machine-compatible chains.
The overall cryptocurrency market cap now stands at $2.233 trillion and Bitcoins dominance rate is 40.3%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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Frax Share, Swipe and Gnosis lead the altcoin market as Bitcoin recovers to $47.5k - Cointelegraph
Why Altcoins Like Near Protocol and The Graph Plummeted Today – The Motley Fool
What happened
Tuesday wasn't exactly a banner day to be an altcoin investor, as the assets leading the crypto pack were hit by sell-offs.
The prices of many altcoins fell on the day, with more than a few tumbling at double-digit rates. Among these unfortunates were Near Protocol (CRYPTO:NEAR) and The Graph (CRYPTO:GRT), both of which slid by over 10%. Emerging with relatively less damage was Helium (CRYPTO:HNT), down by "only" 7%.
Image source: Getty Images.
In the crypto world, when Bitcoin (CRYPTO:BTC) sneezes, a vast number of other tokens catch a cold. That was certainly a mover behind the Tuesday drops of Near Protocol, The Graph, and Helium, as Bitcoin set the pace with a more than 6% slide.
There was little direct news with any of those coins that would have pushed their prices down. The same goes for Bitcoin.
The crypto leader likely suffered from a combination of the general financial asset trading lull between Christmas and New Year's Day, and a recalibration of many mixed-asset portfolios that include comparatively risky holdings like cryptocurrencies.
Also, some brokerages are forcing/encouraging clients to liquidate more heavily leveraged positions at year-end. As Bitcoin is pricey these days and ever-volatile, it's a prime candidate for such portfolio cleaning. That goes double for most altcoins.
Investors in Near, The Graph, and Helium shouldn't be spooked by Tuesday's price movements, even though -- in the case of the first two coins -- a double-digit drop isn't easy to swallow. For example, Near Protocol is the native crypto of a proof-of-stake blockchain that could give Ethereum a run for its money, while Helium underlies a promising decentralized wireless network.
This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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Why Altcoins Like Near Protocol and The Graph Plummeted Today - The Motley Fool
Ethereum-Based Altcoin Quietly Rallies 122% in Five Days While Bitcoin and ETH Dip – The Daily Hodl
One under-the-radar altcoin thats designed to solve several of Ethereums biggest challenges is stacking up massive gains as ETH and Bitcoin (BTC) consolidate into the new year.
The layer-2 scaling solution Metis Token (METIS) offers lower fees and faster transaction times than Ethereum, while still retaining the security of the leading smart contract platform.
According to the project website,
Offloading data and execution to a second layer allows Metis to provide a more scalable and cost-efficient environment for building and interacting with Web3 applications.
The protocol employs optimistic rollup technology to achieve its functional goals on a layer above the layer-1 blockchain but relies on this underlying layer for both security and settlements.
METIS, its native token, can be used for staking and internal payments, but also serves an important function within the Metis Virtual Machine (MVM) during the creation of a decentralized autonomous company (DAC).
The project explains,
METIS tokens also play a role in reducing spam and ensure trust between developers and users alike. Users must stake some amount of METIS to start a collaboration with others on the platform, such as the founding of a DAC.
These tokens will be returned to the initial users if the collaboration is successful. Unsuccessful collaborations can lead to users losing their stake (akin to slashing penalties). Collaborators will also be paid and rewarded in METIS for the contributions.
The price of METIS surged 122% from December 22th to the 27th, working its way up from $73.68 to an all-time high (ATH) of $164.23.
After some choppy corrective action took the altcoin as low as $133.42 earlier this week, its back up another 18.3% today and touched a fresh ATH of $175.60. It is now up 134% in the last seven days.
By contrast, Ethereum has been trading flat all week and at $3,762 is down 18.8% from its monthly high of $4,631.
Bitcoin remains below $50,000 and is currently priced at $47,648.
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Ethereum-Based Altcoin Quietly Rallies 122% in Five Days While Bitcoin and ETH Dip - The Daily Hodl