Since the beginning of the year, more than a thousand new cryptocurrencies have appeared on the market – Kommersant

According to researchers AltIndex, over the past five months, 1023 new types of cryptocurrencies entered the market, the total number was 9708. At the peak of the popularity of the cryptocurrency market, which occurred in February 2022, 10,397 different types of cryptocurrencies, coins, etc. were traded worldwide. And the number of cryptocurrencies since the emergence of this market has only grown. However, after February 2022, the market experienced a noticeable decline, and already in February of this year, the number of cryptocurrencies fell to a two-year low – 8685, after 1700 types of cryptocurrencies and coins left crypto exchanges. Together with the fall in the prices of the most popular cryptocurrencies in 2022, this led to a phenomenon that analysts called the cryptocurrency winter.

Now more and more new cryptocurrencies are entering the exchanges, which causes experts and investors to hope for a gradual recovery of the market. “The good dynamics of cryptocurrency rates over the past seven months has brought a new wave of optimism to investors and stimulated the massive emergence of new cryptocoins,” the AltIndex report notes.

At the same time, the researchers emphasize a rather high level of market concentration around several leading currencies. The five most popular currencies account for 80.9% of the total value of the global cryptocurrency market, which now stands at $981 billion. Bitcoin leads with a share of 48.6%, followed by Ethereum with 19.1%. The top 5 also includes Tether, XRP and BNB.

Evgeniy Khvostik