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published in Blogs
Mar 12, 2023

What's the Difference Between Tokens and Altcoins?

Cryptocurrencies may be making their way into the mainstream, but that does not mean they are not confusing – even to people with experience in the space. Between their inherently technical nature, multiple varieties and sub-varieties, and endless terminology, cryptocurrency (defined here as digital or virtual currencies that are encrypted using cryptography, powered by the immutable digital ledger known as the blockchain) represents a whole, complex world. In cryptocurrency, the word ‘coin’ is an umbrella term encompassing tokens and altcoins, both of which are fixtures in the ecosystem. Let’s examine the difference.

Altcoins

Altcoins (short for alternative cryptocurrency coins) are coins that represent an alternative to Bitcoin, the most popular and recognizable cryptocurrency. All altcoins possess their own blockchain, independent from their source code, that records all transactions of their native coins.

Many altcoins are variants, or forks, of Bitcoin that leverage that cryptocurrency’s open-source protocol as the basis. Changes to Bitcoin’s code yield coins with different, distinctive features from the original – examples include Namecoin (the first altcoin, created in April 2011 as a decentralized, open-source information registration and transfer system), Litecoin, and Peercoin.

Forking from Bitcoin’s open-source code is not a requirement for an altcoin. Some prominent coins like Ethereum and Ripple are altcoins but have created their own blockchain and protocol instead, with their own subsequent forks.

Tokens

Tokens represent tradeable, interchangeable assets or utilities on top of the blockchain – anything from loyalty points to other cryptocurrencies. They are far easier to create than altcoins because they do not require elements of coding to alter a protocol or create a brand new blockchain. Tokens are designed by following a template on a blockchain (like Ethereum or Waves) and governed by self-executing computer codes called smart contracts. Once created, they are distributed to holders via Initial Coin Offerings (or ICOs), a popular means of crowdfunding without taking on venture capital money (and ceding control of your company with it). Using a template has the added benefit standardizing an interface for interoperability between different tokens – an ERC-20 standard on the Ethereum blockchain is used by 40-plus tokens, which means holders can store these different types of standardized tokens in a single coin wallet, something not possible with coins of different standards.

Structural differences are the main differentiator between altcoins and tokens. Both may be cryptocurrencies, but altcoins are distinct entities on separate blockchains while tokens operate as blockchain-based assets created via template. Each one occupies its own space in the vibrant, dynamic cryptocurrency ecosystem – maybe the next Bitcoin is just around the corner.

Related Ticker: BCH.X

BCH.X's RSI Oscillator peaks and leaves overbought zone

The 10-day RSI Indicator for BCH.X moved out of overbought territory on March 05, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 55 instances where the indicator moved out of the overbought zone. In of the 55 cases the stock moved lower in the days that followed. This puts the odds of a move down at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on March 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BCH.X as a result. In of 139 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for BCH.X turned negative on March 14, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 65 similar instances when the indicator turned negative. In of the 65 cases the stock turned lower in the days that followed. This puts the odds of success at .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BCH.X declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BCH.X broke above its upper Bollinger Band on February 27, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The 10-day moving average for BCH.X crossed bullishly above the 50-day moving average on February 12, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 23 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BCH.X advanced for three days, in of 398 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 241 cases where BCH.X Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Market Cap

The average market capitalization across the group is 7.9B. The market cap for tickers in the group ranges from 7.9B to 7.9B. BCH.X holds the highest valuation in this group at 7.9B. The lowest valued company is BCH.X at 7.9B.

High and low price notable news

The average weekly price growth across all stocks in the group was -11%. For the same group, the average monthly price growth was 50%, and the average quarterly price growth was 86%. BCH.X experienced the highest price growth at -11%, while BCH.X experienced the biggest fall at -11%.

Volume

The average weekly volume growth across all stocks in the group was -45%. For the same stocks of the group, the average monthly volume growth was 94% and the average quarterly volume growth was 106%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating:
P/E Growth Rating:
Price Growth Rating:
SMR Rating:
Profit Risk Rating:
Seasonality Score: (-100 ... +100)
View a ticker or compare two or three
BCH.XDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
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BCH.X and

Correlation & Price change

A.I.dvisor indicates that over the last year, BCH.X has been closely correlated with EOS.X. These tickers have moved in lockstep 67% of the time. This A.I.-generated data suggests there is a high statistical probability that if BCH.X jumps, then EOS.X could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BCH.X
1D Price
Change %
BCH.X100%
-0.27%
EOS.X - BCH.X
67%
Closely correlated
-2.89%
DASH.X - BCH.X
65%
Loosely correlated
-4.42%
LTC.X - BCH.X
63%
Loosely correlated
+1.46%
ETC.X - BCH.X
58%
Loosely correlated
-1.74%
HOT.X - BCH.X
58%
Loosely correlated
-8.13%
More
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