Snynet Solution Logo
MON - SUN: 10 AM - 6 PM
+60 11 5624 8319

Blog

These lesser-known cryptocurrencies are driving the market to new heights

Image Description

The continued crypto bull run has pushed the combined value of all major digital currencies beyond $2 trillion for the first time.

According to an index maintained by CoinGecko, which tracks the price of 6,129 distinct coins, the total crypto market capitalization is up 4.5% in the last 24 hours, outstripping the previous all-time high.

The world’s most famous cryptocurrency Bitcoin accounts for 54.18% of the market’s value and is itself now worth more than $1 trillion. However, the most recent bump can be attributed in large part to a group of lesser known cryptocurrencies.

Cryptocurrency market

The arrival at the new $2 trillion milestone comes just three months after the cryptocurrency market capitalization exceeded $1 trillion for the first time, highlighting the industry’s extreme rate of growth.

Although the spectacular rise in the price of Bitcoin is responsible for much of the growth since November last year, the world’s largest cryptocurrency has stalled somewhat in recent weeks.

Instead, a groundswell effect is driving up the price of a number of altcoins, which are said to be responsible for driving the crypto market past this latest landmark valuation.

The cryptocurrency of the Ethereum blockchain, Ether, reached a new all-time high of $2,150 at the end of last week and has recorded a price increase close to 1,200% over the last twelve months.

Other popular altcoins, such as XRP, Stellar and Tron have also registered significant growth over the past few days as enthusiasm for platforms with DeFi and smart contract functionality grows.

As ever, a major market correction remains a possibility, posing a risk for investors unlucky enough to come in at the peak. Given the volatility of cryptocurrencies as an asset class, first-time buyers are advised to only invest as much as they can afford to lose.

Date

06 Apr 2021

Sources

Share

Other Blog

  • Windows 10’s latest bug is particularly annoying – but there’s a fix incoming

    Microsoft’s Photos app is getting a fix for a bug which quite often prevents users from opening images.

    Read More

  • Best digital board games to play with friends and family online

    If you can’t play board games together this Christmas, then digital board games are the next best thing.

    Read More

  • Small businesses to get online boost with new GoDaddy eCommerce tool

    Main Street Online assesses the unique ecommerce needs of small businesses with a customized questionnaire.

    Read More

  • Will TeamSpeak’s Windows 11 facelift be enough to dethrone Discord?

    TeamSpeak, an old-school voice chat app for gamers which has been around for the best part of two decades, has just pitched up on the Microsoft Store in Windows 11 with an all-new look.

    As MS Poweruser points out (via Deskmodder), the fresh incarnation of the software is a new electron app which replaces the old UWP version (previously available on Windows 10).

    The new TeamSpeak app (informally known as TeamSpeak 5, with the current version being 3) still works with Windows 10, mind, and it’s currently in closed beta, with development being an ongoing process. You can download and install it even if you aren’t in the beta, but you won’t have access to certain functions (like global chat) until you’re signed up for the beta.

    TeamSpeak differentiates itself from rivals like Discord on several key points, notably audio quality and streamlined resource usage.

    With TeamSpeak 5, the developer notes: “We have added machine-learning background-noise cancellation, advanced voice detection, multi-track recording, in-line pink noise filters and a whole host of other audio improvements.” That’s paired with 384Kbps audio quality, and a fully overhauled interface to boot.

    The UI has been completely redesigned to deliver what’s described as the “most easy-to-use communication experience on the market”, and it’s easy to resize the various panels, for example, plus there are a bunch of visual (and otherwise) customization options (the latter has always been a strong suit for TeamSpeak).

    Analysis: Promising progress – but when will the improved TeamSpeak launch?

    The new TeamSpeak seems to be doing a lot to tackle its perceived deficiencies when compared to Discord – and it’s already attractive to a core group of gamers who’ve stuck with it for a long time, including those who prefer a simpler and more no-nonsense approach to some of Discord’s frills.

    As mentioned above, part of the attraction of TeamSpeak is that it’s less resource hungry, and that it has great voice quality with a high level of reliability. Plus some see it as a much more secure option compared to Discord (the new TeamSpeak promises “end-to-end encrypted, 100% secure” global messaging).

    Clearly, the new version is about catching up with Discord in many ways, and getting fresh gamers into the fold. The chat options and improved interface are a big part of that, because the shortcomings on the UI front were a roadblock to more casual users. TeamSpeak currently offers a lot of fine control to users, but it’s fiddlier and more difficult to work with than something like Discord, which is an issue that could definitely do with being addressed in terms of attracting a wider audience for the app.

    The TeamSpeak 5 beta has been running for a couple of years now, and there’s no ETA for a full release yet. Hopefully this appearance on Windows 11 is a positive sign in terms of progress being made, and it certainly looks like TeamSpeak is headed in the right direction – even if some beta testers are frustrated about how long it seems to be taking to get things together for the new version. Still, better to get it right, than rush things out...

    Read More

Find Out More About Us

Want to hire best people for your project? Look no further you came to the right place!

Contact Us