Altcoin
Contraction de 'alternative coin', toute cryptomonnaie autre que le Bitcoin.
Le marché des altcoins est cyclique, souvent marqué par une phase de forte croissance appelée 'Altseason' quand la dominance du BTC chute.
graph LR
Center["Altcoin"]:::main
Rel_how_to_buy_crypto["how-to-buy-crypto"]:::related -.-> Center
click Rel_how_to_buy_crypto "/terms/how-to-buy-crypto"
classDef main fill:#7c3aed,stroke:#8b5cf6,stroke-width:2px,color:white,font-weight:bold,rx:5,ry:5;
classDef pre fill:#0f172a,stroke:#3b82f6,color:#94a3b8,rx:5,ry:5;
classDef child fill:#0f172a,stroke:#10b981,color:#94a3b8,rx:5,ry:5;
classDef related fill:#0f172a,stroke:#8b5cf6,stroke-dasharray: 5 5,color:#94a3b8,rx:5,ry:5;
linkStyle default stroke:#4b5563,stroke-width:2px;
🧒 Explique-moi comme si j'avais 5 ans
Si le [Bitcoin](/fr/terms/bitcoin) est l'or numérique, les altcoins sont d'autres métaux ou monnaies avec des fonctions différentes.
🤓 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.