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The definition of an altcoin has evolved since the early days of cryptocurrency when only a handful of crypto assets existed. Back then, anything but Bitcoin (BTC) was considered an altcoin.

Today the world of crypto assets is much broader. There is a wide variety of coins and tokens with use cases that go well beyond a medium of exchange, meaning they arent necessarily Bitcoin competitors.

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Still, for lack of a better designation, the basic definition of an altcoin is any crypto asset other than Bitcoin.

Heres a look at the top 10 altcoins by market capitalization, excluding stablecoins. We have excluded stablecoins since they are designed to maintain a stable price and are not typically considered to be a speculative investment.

Market cap: $389.2 billion

Of the nearly $2.5 trillion in total market capitalization of the more than 26,000 crypto assets available today, more than $389 billion is held in Ethereum (ETH), the biggest altcoin on the market.

Unlike Bitcoin, which is characterized as a decentralized currency, Ethereum is a distributed computing network on which users can use the blockchain to run decentralized applications (dApps) and host smart contracts.

Critics of Ethereum point to high fees for conducting transactions. But with the thousands of apps and other altcoins powered by its blockchain, Ethereum is here to stay.

Market cap: $82.5 billion

Binance Coin is a utility token that can be used to pay trading fees and get discounted trades on the Binance exchange. You can even use BNB outside the Binance crypto exchange for payment processing, such as booking travel arrangements.

Critics say BNB isnt as decentralized as other altcoins. Another risk is a reported Securities and Exchange Commission (SEC) investigation into whether Binance should have registered BNB as a security during its initial coin offering.

Market cap: $79.3 billion

Developed to power decentralized finance, apps, and smart contracts, Solana runs on a unique hybrid proof-of-stake and proof-of-history mechanism to process transactions quickly and securely. It is one of the fastest blockchains.

Market cap: $32.0 billion

XRP can facilitate exchange of different currency types with digital technology and payment processing company Ripple Labs. Although this altcoin has extremely low transaction fees, critics note it faces legal challenges.

Ripple and two of its executives are involved in an SEC lawsuit alleging they should have registered XRP as a security, and the company says XRP is instead a currency.

Market cap: $26.3 billion

Dogecoin is the original meme coin, famously started as a joke in 2013. Nevertheless, thanks to a dedicated community and creative memes, it has rapidly evolved into a prominent cryptocurrency.

Dogecoin has a different network from Bitcoins proof-of-work protocol. This altcoin also has a block time of one minute with uncapped total supply. This means that there is no limit to the number of Dogecoin that can be mined, unlike BTC.

Market cap: $20.7 billion

Cardano was an early adopter of the proof-of-stake consensus mechanism, which speeds up transaction time by removing platforms like Bitcoins competitive and energy-intensive problem-solving dimension.

The Cardano Alonzo hard fork was officially launched on September 12, 2012, which also launched smart contract functionality to the blockchain space. It is to be noted that over 100 smart contracts were deployed in the following one day after the launch.

Market cap: $17.7 billion

Developed as a layer-one blockchain for dApps and other networks, Avalanche has grown into one of the worlds leading altcoins, Ethereums main rivals. In particular, the AVAX network is looking to unseat Ethereum as the blockchain of choice for smart contracts. The way in which the newer blockchain hopes to do this is by a higher transaction output without affecting scalability.

Like Ethereum, Avalanche is attempting to solve Vitalek Buterins famous blockchain trilemma of security, scalability, and decentralization. The blockchain trilemma states that developers must sacrifice at least one of those three components to allow for maximum productivity with the other two. Avalanche attempts to solve the trilemma by using three interoperable blockchains in its development.

Market cap: $17.2 billion

Developed in 2018 by Telegram, the encrypted messaging system, Toncoin is a Layer-1 blockchain whose name originally stood for Telegram Open Network but has since been changed to simply The Open Network.

TON was initially released so that in-application clients could easily settle transactions within the Telegram app. However, it has grown into a community-driven blockchain whose proof-of-stake network maintains swift processing and validation times.

Market cap: $15.5 billion

Shiba Inu, an Ethereum-based meme coin, was developed in 2020. SHIB was created by Ryoshi, an anonymous developer who claimed the coins goal was to discover if an organization could work without any central leadership. With major crypto heavy hitters such as Elon Musk and Vitalek Buterin quickly backing it, Shiba Inu appears to be proving Ryoshis hope is possible.

In October 2021, Shiba Inu briefly supplanted Dogecoin as the worlds most valuable meme coin by market cap. In addition, some niche retailers have started accepting the coin as payment following its success among crypto investors. But dont start looking to pay for your dinner with SHIB yet. An organized social media effort from the Shiba Inu community to get McDonalds to accept the coin as payment ultimately failed.

Market cap: $12.4 billion

This peer-to-peer electronic cash system aims to become a decentralized, permissionless global payment system. Bitcoin Cash is an alternative to the original bitcoin payment system, the worlds oldest cryptocurrency.

Created by a hard fork in the bitcoin blockchain, Bitcoin Cash launched in 2017, eight years after the original bitcoin blockchain came online.

Market cap: $12.2 billionThis altcoin powers the Polkadot ecosystem, where developers can build specific-purpose blockchains as spokes connecting to the main Polkadot blockchain hub, says Max Thake, co-founder of peaq, a blockchain network built on Polkadot. DOT is the native token for Polkadot.

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Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker - ForexExpo Dubai October 2022 & more

Best-In-Class for Offering of Investments

Trade 26,000+ assets with no minimum deposit

Customer Support

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Welcome Bonus On First Deposit:

Get $30 in your verified trading account on your first deposit.

Variety:

Trade CFDs in crypto, forex, stocks, metals, commodities & more!

Intuitive & Cheap:

Designed for traders of all levels, from beginners to professionals.

Grow Your Passive Income

250+ cryptoassets available

Why Uphold

Just $1 minimum deposit

Fees

Enjoy 0% bank deposit & withdrawal fees*

Please invest carefully, your capital is at risk

*Market caps and pricing sourced from coinmarketcap.com as of April 2, 2024.

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11 Best Altcoins Of May 2024 Forbes Advisor INDIA - Forbes

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Ethena (ENA), the synthetic U.S. dollar protocol built on the Ethereum network, recorded a significant surge as a renowned crypto researcher predicts a 100x rise during an anticipated altcoin season.

ENA is up 13.5% in the past 24 hours and is trading at $0.90 at the time of writing. The assets market cap is approaching the $1.3 billion mark, making it the 67th-largest cryptocurrency.

Quite similarly, Ethenas daily trading volume surged by 22.5%, currently hovering at $285 million.

The latest uptick in the surge of ENA tokens comes as renowned crypto researcher Alex Wacy has ignited speculation about the beginning of the altcoin season, signaling potential surges for select altcoins, including Ethena, amidst a $277.174 billion market cap.

Altseason seems to be starting!

Only ~15% of altcoins will bring 10-100x in this hyper growth.

Asset selection matters more than ever. One slip-up, and you're out.

How to position yourself Profit-taking timing 6 Altcoins that look ready to go pic.twitter.com/axmDK6rTua

Wacy estimates that approximately 15% of altcoins could yield returns ranging from 10x to 100x during this anticipated altcoin season.

Among the key indicators cited by Wacy is the consolidation of over $700 billion in TOTAL3, excluding Bitcoin (BTC) and Ethereum (ETH), which serves as a confirmation of a bullish trend.

TOTAL3 shows the total market capitalization of the top-125 cryptocurrencies, excluding BTC and ETH. This metric acts as a gauge for the broader altcoin markets readiness to emerge from the shadow of Bitcoin.

In his analysis, Wacy highlights Ethena as a synthetic dollar protocol that provides a crypto-native alternative to conventional banking through the Internet bond.

Moreover, he notes that the next unlocking event for ENA is scheduled for April 2025 while emphasizing a familiar pattern observed on the weekly chart, typically preceding significant growth. Given the ongoing altcoin season, the pattern is anticipated to lead to a swifter rebound compared to projects launched during bearish market conditions.

Ethena Labs, the developer behind the synthetic dollar protocol, has recently received approval for a USDeFRAX liquidity pool in collaboration with Frax Finance. The move aims to diversify the yield of the FRAX stablecoin, further enhancing the ecosystem surrounding Ethena.

Additionally, the approval of the Singularity Roadmap proposal has paved the way for the creation of a USDeFRAX pool on the decentralized finance (DeFi) stablecoin exchange Curve, with a $250 million ceiling.

However, amidst the optimism surrounding Ethena and its ecosystem, concerns have been raised by Fantom developer Andre Cronje regarding the risks associated with the USDe peg system. The system relies on collateralized positions to maintain parity with the U.S. dollar, similar to the design of UST, which ultimately led to challenges for Terras ecosystem.

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Ethena (ENA) surges 13.5% as researcher forecasts 100x growth in altcoin season - crypto.news

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Tue 07 May 2024 3 min of reading by Luc Jose A.

With the current momentum of prices in the crypto market, now is the time to invest most heavily in altcoins. And if youre still unsure which altcoins to prioritize, were here to help. Here are 3 altcoins you could invest in now to increase your chances.

If youre looking to invest in cryptos at this time, start by considering Chainlink. Chainlink is a blockchain oracle network that assists Ethereum smart contracts in connecting to payment systems, APIs, and various external data sources. The project has a lot of potential.

The projects native token, LINK, is currently trading at about $14.24 on CoinMarketCap with sustained growth over the past 7 days. After reaching its all-time high of $52.8761 in May 2021, LINK could soon set a new record.

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A fierce competitor of Ethereum with a multi-chain approach, Avalanche has managed to attract major players like MasterCard. Since 2021, in fact, the blockchain has entered the Top 10 most used blockchains. This is unsurprising, given that it was built to address issues of scalability and transaction costs on Ethereum.

Despite a recent setback, its cryptocurrency, AVAX, shows a clear upward trend over the past few days. Its current price is about $36.08 on coinmarketcap with a growth of 3.79% in the last 24 hours.

While this is not investment advice, we suspect that Solana (SOL) will make big waves in the coming months. Its performance over the past year has positioned it among the cryptocurrencies to be recommended this year.

With a growth of 7.05% over the last 7 days, the cryptocurrency is currently trading at nearly $147.39 on coinmarketcap, well below its ATH of $260. Solana could clearly be an excellent investment opportunity for this altcoin season. Its up to you to choose your altcoin and get started as soon as your calculations are correct.

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Diplm de Sciences Po Toulouse et titulaire d'une certification consultant blockchain dlivre par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'conomie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet cosystme en constante volution. Mon objectif est de permettre chacun de mieux comprendre la blockchain et de saisir les opportunits qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualit, de dcrypter les tendances du march, de relayer les dernires innovations technologiques et de mettre en perspective les enjeux conomiques et socitaux de cette rvolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Crypto: The Top 4 Altcoins to Buy Now - Cointribune EN

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As the cryptocurrency market recovers AI coins have attracted a lot of interest from investors looking to take advantage of the possibilities presented by AI technologies. With a collective market capitalization of approximately $36.6 billion, AI altcoins have seen a significant increase in trading volume by 18.27% over the past 24 hours, providing numerous opportunities for strategic investments. In this article, we explore the contrast between Fetch.ai (FET) and Render Network (RNDR) in terms of their potential for buying, selling and hodling in May.

Fetch.ai (FET) is currently trading at $2.17, showing a significant 8.51% increase over the last day. Nevertheless, its results in the previous month show a different picture, with a significant drop of 19.03%.

In spite of the recent decrease, Fetch.ai has shown growth over the long term, with a 577.40% increase in the past year. Having a market capitalization of $1.8 billion, FET is currently ranked at 55th in the market, according to CoinMarketCap.

The trading volume of the token over the past day is $207.37 million, demonstrating an increase of 27.13%, with a total circulating supply of 848,193,896 FET. Shifting focus to Render (RNDR), the token is currently valued at $8.52, exhibiting a 10.42% increase in the past day and a 7.92% uptick over the last week.

However, similar to Fetch.ai, Render token has faced challenges over the past month, with a 10.34% decline in its value. Despite this setback, Render showcases significant growth over the past year, with a 285.90% surge. With a market cap of $3,297,764,778, Render secures its position at 35th in the market, according to CoinMarketCap.

The tokens trading volume over the last 24 hours amounts to $154,117,048, representing approximately 4.63% of its market cap. Renders circulating supply stands at 386,976,473 RNDR.

While both Fetch.ai and Render have encountered short-term fluctuations, their long-term trajectories reflect substantial growth potential. As investors weigh the opportunities presented by these tokens, a comprehensive understanding of their underlying technologies and market dynamics will be essential in making informed decisions.

When considering potential investment strategies for Fetch.ai and Render in May, it is important to analyze different technical indicators to understand their market sentiments and possible directions.

Beginning with FET, the evaluation shows a blend of outcomes. Although short-term EMAs suggest a buy trend, longer-term EMAs show a sell trend, resulting in a somewhat unclear sentiment. The MACD level indicates a decrease in momentum, in line with the bearish signals from the EMAs.

Nevertheless, the Relative Strength Index (RSI) is currently at a neutral position, suggesting an even market sentiment. While analyzing Fibonacci support and resistance levels, Fetch.ai exhibits potential support around $1.38 and resistance near $2.87.

Switching to Render token, the technical analysis presents a more positive viewpoint. The majority of its short and long-term EMAs show a bullish trend, reflecting a positive outlook in the moving averages. The bullish sentiment is supported by the MACD level, indicating a positive trend in the market.

Likewise, the RSI is currently at a neutral level, suggesting a fair sentiment with no clear signs of excessive buying or selling. When it comes to Fibonacci levels, Render Token has greater support and resistance levels than Fetch.ai, suggesting potential for larger price changes.

Comparatively, Render token seems to display more robust bullish signals on different technical indicators, making it potentially more advantageous for purchasing or maintaining positions in May. Nevertheless, investors should proceed with care and delve deeper into research, taking into account aspects such as fundamental analysis and overall market trends prior to making investment choices.

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FET Vs Render: Which AI Altcoin to Buy, Sell or Hodl in May? - CoinGape

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These undervalued altcoins have the potential to soar, and most people have never heard of them

Source: Wit Olszewski / Shutterstock

With Bitcoin (BTC-USD) already well established, altcoins provide fantastic opportunities for speculators. They are usually unheard of by the masses, yet packed with potential. Thats why they are so sought after as people look for the next Bitcoin.

Undervalued altcoins usually have three things in common:

1) They have real-world utility. That means they can be used by global industries for many applications. This mass adoption in the marketplace means huge gains potential for investors holding the coin early.

2) Hardly anyone in the mainstream will have ever heard of them yet. Nobody in the mainstream had head of Bitcoin until it was already worth thousands of dollars.

3) They tend to be only a few dollars, often less than 1 cent. Those who bought BTC when it was less than $1 should be very happy right now! Thats why undervalued altcoins are so sought after.

Source: Chinnapong / Shutterstock

Pepes (PEPE-USD) price spike came after Coinbase (NASDAQ:COIN) listed futures for the meme token on its platform. This mainstream acceptance for a crypto historically suggests the start of a long term uptrend. Those who get in early will be holding an undervalued altcoin, if history is any guide.

But what is even more encouraging is that this pump came after a much bigger one dating back a month earlier. So this Coinbase listing is just the latest building block on a very broad platform.

To follow through on PEPEs recent growth, on May 3, 2024, whales were spotted investing in 4.04 trillion PEPE tokens.

On the chart, PEPE recently broke out of a promising bull flag pattern. It is currently pushing against resistance of an inverse head and shoulders pattern. A breakout of its latest resistance suggests the still-undervalued altcoin is due to break out again to the upside if technicals play out as expected.

If it does, PEPE stands to almost double its current price. But this would be helped greatly by PEPEs notorious hype machine, combined with an Ethereum (ETH-USD) rally as PEPE is based on ETHs blockchain.

Source: Shutterstock

In what is quite typical for the altcoin community, Hedera (HBAR-USD) went through a pump-and-dump cycle. It was due to misinterpreted news that BlackRock (NYSE:BLK) was going to tokenize its fund on HBARs hashgraph.

The fallout left HBARs price at its previous levels. But this presents an opportunity for those seeking out an undervalued altcoin. HBAR is in a long-term uptrend dating back to October 2023. It is still a massive 80% off its all-time highs.

All promising factors. But it must be stated that the profit potential of this undervalued altcoin is more a long-term play. It may take months to clear the recent BlackRock top. But it currently sits near the bottom of an upward channel, making it a good time to buy.

Even longer term, its all-time high was in 2021, so it would need even more time to reach those highs, and of course is highly dependent on market conditions remaining bullish for cryptocurrencies as a whole.

Source: shutterstock.com/FellowNeko

Near Protocol (NEAR-USD) entered a steep uptrend in January 2024 and is currently coiling up in a bull flag pattern. Given the length of this bull flag, a potential breakout could come fairly soon if technicals play out normally.

A breakout of this flag shows little resistance on the way to its 1-year high near $8.90. Expect a test of resistance around that price in the short to medium term. But long term, its all-time high sits above $20.

The rise in popularity of NEARs data availability level appears to have been powering the uptrend in recent months. But most promisingly of all, the NEAR protocol has the distinction of having great real-world adoption. This is partially due to its partnership with KaiKai, a rewards ecosystem.

This is along with many other of NEARs tentacles held in the crypto space such as integrating with MetaMask, for one thing. NEARs current price makes it an extremely undervalued altcoin. Perhaps one of the most undervalued altcoins in the world currently.

On the date of publication, Sam Farnham did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Since 2012, Sam has helped investors, traders and wealth seekers with his technical and fundamental analysis of the financial markets and has developed six trading systems during that time. He is always searching for more financial opportunities to share with readers.

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Crypto Sleeping Giants: 3 Altcoins Ready to Awaken and Soar - InvestorPlace

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