Today I entered coinmarketcap and I saw that there are currently more than 24k cryptocurrencies, I remember that I looked a few months ago and there were 21-22k, more and more cryptocurrencies keep coming out, when we can't even investigate 50 of them, what do you think of this? Do you think we already have too many cryptos? or it is normal that there are more and more cryptos and tokens.
More than 24k existing cryptocurrencies
- Thread starter riberet19
- Start date
And the truth is that only the few that are mainstream would thrive. The rest would just fade into oblivion on the passage of time.
Well, I remember in the past when there was only Bitcoin, if you told someone that this is a good project, they would call you crazy and say that you are an idiot, but today there are so many of them, and I think that now people Those who invest in this market are crazy. This market is no longer worth it in my opinion
New crypto-currency project will continue to Spring up because it is a developing industry.
Cryptocurrency is evolving and we should expect more cryptocurrencies project to Spring up.
It's not surprising to me that now it's very easy for a developer to create a new coin or token, through a smart contract on the blockchain, so new tokens will always appear, but for developers who have bad intentions, the token will die by itself, the most important thing is we don't lured into the trap.
The smart contract and the scalability on ethereum blockchain gives opportunity to create your own coin very easily.
- Thread starter
- #11
Yes, it is true, it is very easy to create new tokens, which means that there will be more malicious tokens and scam projects, besides being very difficult to choose since we have almost 25k projects
Actually, there are so many crypto currencies and tokens these days compared to about 10 years ago. And coin market cap is a very good source to check the details about these coins. I think becoming too much can make one confused on which one to invest in. But on the other hand, it can also help one have options or choices. Or can even create room for competition which is part of business.
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- #14
Well if we talk about its value in fiat, it is clear that it is not safe and that it is very volatile, that is why you should never invest too much of your capital, on the other hand I have some altcoins but with little investment and always keeping up with them and the new news and advances in case I need to reduce exposure.
There are so many cryptocurrencies being created for sure. Some of them don't even see the light of day. That is why investors are asked to be really careful when investing in new coins. They may not have good projects behind them.
- Thread starter
- #17
Yes, it is something interesting in the world of cryptocurrencies and decentralization the fact that anyone can create a new cryptocurrency or token and go to market, the problem with this is that many of these projects may be scams.
A guy on Twitter obviously created a scam meme coin in the wave of the Pepe rush which no one can sell. People still kept on buying it with no control. This type of activity makes cryptocurrency look scammy to outsiders and critics
- Thread starter
- #19
Yes, it is something that we must try to eradicate a little at least with well-made regulations, since these things can not continue to happen if we want to increase adoption in the cryptographic world.
