Bizarre! 5,000 crypto coins in one year

The number of crypto coins is sprouting like mushrooms, according to a recent study.

Creating your own cryptocurrency is not that difficult. The challenge is to make something serious out of it that also resonates with the general public. And only a select few can do that. Of the many cryptocurrencies that exist alongside Bitcoin, Ethereum and Ripple, among others, only a small group can really break through.

To indicate how bizarrely many coins there are, Crypto Parret has published an interesting study. What appears now. No fewer than 4,908 cryptocurrency coins were launched between September 2020 and September 2021. So that’s almost 5,000. A bizarre number. According to the research, there are now 12,046 different types of coins in circulation. The number of coins has increased by no less than 68.75 percent in the last 12 months.

It occurs more often..

It is not exceptional that so many coins are added in a year. For example, something similar happened in 2019. The research from then shows that more than 4,000 crypto coins were added in a year. From 2,890 to 7,138, an increase of 146.98 percent. The researchers rely on CoinMarketCap.com’s database, which keeps track of all this accurately.