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Number of Cryptocurrencies on CoinMarketCap Surpasses 2,000

Number Of Cryptocurrencies On CoinMarketCap Surpasses 2,000

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CoinMarketCap is the #1 site for checking cryptocurrency market capitalization and crypto exchange statistics, and the number of cryptos on CoinMarketCap is an approximate measure of the total number of cryptos in existence. The number of cryptos on CoinMarketCap surpassed 2,000 on 3 October 2018, which reveals that the crypto space is flourishing despite the market downturn during 2018.

Before 2009 there were zero cryptos, and when Bitcoin launched in January 2009 it was the only one of its kind, a situation which persisted for years. CoinMarketCap has a historical snapshots tool which shows the cryptos listed on CoinMarketCap on a particular date in the past. The first snapshot is 28 April 2013, and there were a mere 7 cryptos listed at that point.

By 5 January 2014, the number of cryptos surged to 67, coinciding with the rally that brought Bitcoin to USD 1,000 for the first time, which therefore marks the first time serious money started flowing into the crypto space. The number of cryptos exploded into the hundreds following that rally, reaching 491 by 4 January 2015. Keep in mind 2014, for the most part, was a bear market, yet the number of cryptos proliferated, with each crypto representing a blockchain business.

The bear market continued through 2015, and the growth of the number of cryptos slowed, with only 551 by 3 January 2016. 2015 was a dark time for the crypto market, with Bitcoin crashing below USD 200 at a point, but the number of cryptos increased instead of decreasing.

2016 marked the beginning of the biggest Bitcoin rally in history, with a steady price rise all year from USD 350 to nearly USD 1,000. The growth of the number of cryptos accelerated a bit, with 617 by 1 January 2017. The rally picked up steam after this, and Bitcoin hit an all-time high of USD 20,000 in December 2017. By 7 January 2018, the number of cryptos had roared well past 1,000 to 1,355, more than doubling in a year. This is likely due to the massive influx of capital into the crypto space, which made initial coin offerings (ICOs) a profitable business model.

Despite the bear market of 2018, the number of cryptos on CoinMarketCap now sits at 2,062. 2018 is on track to be the year with the most cryptocurrencies deployed in history. Since the beginning of 2016, the number of cryptos has grown by an astonishing 2,742%. Essentially, the crypto market is more diverse than ever before, with several blockchain companies launching every week, which suggests the crypto space is healthier than ever.

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