An Altcoin is any cryptocurrency other than Bitcoin. They are named so because Bitcoin dominates more than 50% of the crypto market cap. The term altcoin stands for Alternative Coin.
Some examples are Ethereum, BNB, Solana, Dogecoin and even Wrapped BTC.
Wrapped BTC or wBTC is considered an altcoin because although it tracks the price of Bitcoin, it is an ERC-20 cryptocurrency.
Some Related Terms to Altcoins:
- Altcoin Season: A period where the growth and market dominance of altcoins exceeds that of Bitcoin.
- Altcoin Season Index: An index that shows whether it is a bitcoin season or altcoin season.
