A study conducted by Bitstacker.com showed that since the beginning of the year, 4921 new tokens have joined the list of tracked crypto assets on the CoinMarketCap platform.
The authors of the Bitstacker report report that as of January 1, 2022, 16,238 cryptocurrencies were registered on the CoinMarketCap platform, and as of November 1, the total number of monitored crypto assets exceeded 21,000. In absolute terms, the increase was 4921. Analyzing the growth rate of the number of cryptocurrencies, experts Bitstacker notes that despite the overall increase in the number, the percentage change in the number of new coins from month to month is decreasing.
Between January and February 2022, the number of monitored cryptocurrencies increased by 6.25%, while in June this increase was only 2.44%. The smallest increase in the number of tracked crypto assets was recorded in August, amounting to only 1.65%.
The Bitstacker analyst team believes it is unlikely that new coins will be able to have the same successful ICO as the assets from the top ten of the CoinMarketCap list. According to experts, what is happening is due to the fact that the events of 2022, such as the collapse of FTX, Celsius Network, Voyager Digital and BlockFi, forced investors to be very wary of crypto projects. However, the very fact that new digital assets entered the market refutes the view that cryptocurrencies as a form of investment have failed, analysts note with satisfaction.
On Thursday, December 1, the global market capitalization of the cryptocurrency market was $858.88 billion, while the market capitalization of Bitcoin is $328 billion, i.e. about 37% of the entire market.
Earlier, European Central Bank Market Infrastructure Director Ulrich Bindseil and ECB Market Infrastructure Development Adviser Jürgen Schaaf published an article arguing that, due to their conceptual design and technical shortcomings, bitcoins are unlikely to be used for making daily payments.
Source: Bits
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