exploring altcoins in primexbt

Mainstream media and society have been mainly focussing on Bitcoin–for a good reason. Bitcoin sets the crypto trends, whether in a bullish or bearish situation. The focus has hushed the growth of contenders such as Chainlink (LINK), Ethereum (ETH), Solana (SOL), and Livepeer (LPT). Are these alternatives a good buy?

Alternative coins, commonly known as altcoins, work with the same principle as Bitcoin. They run in decentralized blockchain systems that allow the transfer of financial instruments securely. They are also a good bet whenever Bitcoin is under pressure; they take the steam off the leading cryptocurrency, and their development keeps the crypto ecosystem going.

Further, altcoins have significant growth potential, making them a top option for the aggressive in the investment domain. For one, PrimeXBT’s ethereum vs. ethereum classic review gives a glimpse of how altcoins have evolved.

Altcoins 101: How do they work?

The need for decentralized financial ecosystems prompted the development of the Ethereum network. Bitcoin’s success was the motivation behind the chain as well.

Cutting the need for centralized servers globally is an enormous task, with significant resources to consider for individuals—the Bitcoin ecosystem could not achieve this alone. However, other blockchain networks with decentralized peer-to-peer protocols have made this a reality.

The ETH coin, the fuel enabling the Ethereum network, is a direct rival to Bitcoin, according to the trading trends in PrimeXBT. The principle behind Ethereum is a unique code written from scratch permitting the creation of decentralized apps (dApps), which will grow to significant levels once the gas fees drop to within the reach of many. In the months ahead, Ethereum plans to upgrade to version 2.0 which promises better scalability and improved efficiency while also lowering on-chain Gas fees.

Some altcoins run in networks similar to Ethereum, while others depend on the already created platforms to offer various services, mostly in decentralized finance and NFTs. Uniswap uses the Ethereum network for its two main services, which are to enable swapping and give liquidity from its broad liquidity pool. Uniswap is an Ethereum-based DeFi protocol using smart contracts for users to seamlessly swap tokens while using UNI for governance.

Meanwhile, another coin in Stellar Lumens is an independent network that provides a significant area, easing global remittance in a cheap and secure decentralized network. Using the Lumens (XLM) token, it has a stipulated transaction fee and margin requirements to reduce fraud. It uses a pool of payment methods, making it a unifying factor for the banking sector adopting blockchain.

The Solana interconnected chain works independently of Ethereum, making it an innovative standpoint since the creation of the Ethereum network and a direct rival, according to some experts. Solana promises low fees to rival Ethereum-based transfers. However, Solana is still in development and plans to launch its mainnet as it also completely decentralizes; a move that would draw more developers. Still, it does well in running blockchain gaming and application making using the SOL token.

Which Is a Better Investment? Bitcoin Vs. Altcoins

PrimeXBT’s trading terminal shows that altcoins are coming up quickly, which is a positive addition to crypto and its investors. However, Bitcoin still has a large hold on the price dynamics of the extensive crypto stock.

Bullish trends in Bitcoin often pull altcoins in the same direction, meaning that investors can never ignore bitcoin when diversifying their investments to altcoins. Smaller cryptocurrencies have immense growth potential, with some hitting 10X in growth over the past few years. A notable example as per PrimeXBT is Solana (SOL) that’s now well over $100 when writing, rising over 50X year-to-date.

Nevertheless, while having impressive growth, altcoins bring into consideration the question of longevity. How long will one last in the market? Some do not last beyond a few weeks from the release stage, especially when creators stop supporting and marketing them. However, the fundamentals of enormous players such as Ethereum and their underlying technologies make it a long-term investment.


Altcoins can be worthy buys, especially those supporting massive blockchain infrastructure. If anything, massive investments in emerging fronts like DeFi will more likely accelerate the development of many more altcoins. However, it is important to take time to thoroughly understand their value proposition, what they stand for, and their roadmap before committing.

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