Altcoin
Abkürzung für 'alternative coin', jede Kryptowährung außer Bitcoin.
Der Begriff entstand 2011. Altcoins versuchen oft, Bitcoins Mängel in Bezug auf Skalierbarkeit oder Anonymität zu beheben.
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🧒 Erkläre es wie einem 5-Jährigen
Wenn [Bitcoin](/de/terms/bitcoin) das Gold des Internets ist, sind Altcoins Silber, Kupfer oder sogar digitale Gutscheine.
🤓 Expert Deep Dive
The 'Altcoin Beta' is the defining characteristic for portfolio managers in crypto. Altcoins generally exhibit a beta > 1 relative to Bitcoin, meaning they amplify Bitcoin's movements in both directions. A core metric for timing the altcoin market is 'Bitcoin Dominance' (BTC.D); when BTC.D peaks and begins to trend downward while the total market cap stays stable or increases, it signals the onset of an Altcoin season.
Market Microstructure & Liquidity:
Altcoins suffer from the 'Liquidity Gap.' While Bitcoin has hundreds of billions in daily volume, Altcoins often have thin order books. This results in 'Positive Slippage' during hype cycles and 'Liquidation Cascades' during crashes. Traders also monitor the 'ETH/BTC' pair, as it often leads the rest of the altcoin market. Technically, most altcoins today are built as ERC-20 (Ethereum) or SPL (Solana) tokens rather than independent blockchains, relying on the 'Shared Security' of the parent chain. This has shifted the definition of 'Altcoin' from 'alternative chain' to 'alternative asset' within a modular ecosystem.