This article has been translated from English to Gen Z Slang.
Altcoin is basically short for the "other kid on the block" or “move over Bitcoin“.
🌟The vibe is simple: “altcoin” is what ya call literally any coin or token that isn't Bitcoin (BTC). 💰
Ethereum? Oh yeah, that's like the poster child of altcoins. 🚀
As of 2022, we’ve got around 10,000 of these bad boys. Altcoins for days, fam. 🤖
Altcoins are all about breaking the mold, trying to be the quirky cousin of Bitcoin (BTC) and all those other altcoins out there. 😏
Here’s the tea on the different altcoin varieties:
- Stablecoins – they're like the chill ones 😌
- Meme Coins – for the LOLs 😂
- Utility Tokens – the ones that actually do stuff 🔧
- Security Tokens – let's get secure 🔒
- Governance Tokens – calling the shots 📢
When peeping at the total market value of all these cryptos, Bitcoin's market cap is like, "Look at me, I'm the captain now" compared to all the altcoins smooshed together. 🚢
Folks use this whole dominance thing and Bitcoin’s ups and downs to get a read on the whole crypto scene, feel the trader vibes, and decide if it’s time to make some moves. 🤔📈