As of July 2025, over 37 million unique cryptocurrencies have been created, with projections indicating the number could reach 100 million by the end of the year. To put this into perspective, there were fewer than 500 cryptocurrencies in 2013–2014 and fewer than 3,000 by 2017–2018. This explosive growth highlights the rapid evolution and democratization of blockchain technology.
However, while the number of digital tokens is staggering, not all are active or meaningful. A significant portion of these cryptocurrencies are experimental, abandoned, or created solely for speculative purposes. Many fail shortly after launch due to lack of utility, poor development, or insufficient community support.
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Why the Number of Cryptocurrencies Keeps Rising
Despite market volatility, the creation of new cryptocurrencies continues at an unprecedented pace. According to major tracking platforms like CoinMarketCap, over 10,000 cryptocurrencies are actively tracked, but this number represents only a fraction of the total tokens in existence. The surge is driven by several key factors:
Ease of Creating a Cryptocurrency
Thanks to modern blockchain platforms such as Solana, Base, and Hyperliquid, launching a cryptocurrency has become remarkably simple. Developers can deploy new tokens in minutes using smart contracts—no deep coding expertise required.
For example, SPL tokens on Solana have become a popular choice due to low transaction fees and high throughput. Similarly, blockchains like Binance Smart Chain (BSC) and Polygon offer accessible environments for token creation, further fueling innovation—and speculation.
Diverse Use Cases Beyond Digital Money
Cryptocurrencies today serve far more than just as digital cash. They power entire ecosystems:
- Decentralized Finance (DeFi): Tokens enable lending, borrowing, and yield farming.
- Non-Fungible Tokens (NFTs): Unique digital assets for art, gaming, and identity.
- Gaming and Metaverses: In-game currencies and ownership tokens.
- Supply Chain and Identity Management: Blockchain-based verification systems.
Each new application often requires its own token, multiplying the number of cryptocurrencies in circulation.
Speculation and Market Hype
The allure of quick profits drives countless new projects. While some represent genuine innovation, others are short-lived “pump-and-dump” schemes or outright scams. Platforms like pump.fun have accelerated this trend by allowing anyone to launch and promote micro-cap tokens with minimal effort.
This speculative frenzy contributes significantly to the oversaturation of the market.
Implications of the Growing Number of Crypto Tokens
With over 36 million tokens in existence, the cryptocurrency landscape is now more crowded than ever. This has serious implications for investors, developers, and regulators alike.
Solana’s Dominance in Token Proliferation
The Solana blockchain accounts for approximately 70% of all tokens, largely due to low-cost token creation tools and platforms like pump.fun. These environments encourage rapid experimentation but often result in low-quality or ephemeral projects.
In contrast, Ethereum, despite being a pioneer in smart contracts, hosts a much smaller percentage of total tokens. Other major chains like Tron and Binance Smart Chain contribute only modestly to the overall count.
This imbalance suggests that token volume does not necessarily correlate with value or adoption.
Market Oversaturation and Investment Challenges
The supply of cryptocurrencies now vastly exceeds demand. In 2017, fewer than 10,000 tokens existed; by 2021, that number grew to under 100,000. Today’s figure—over 36 million—means investors face an overwhelming array of choices, most with little to no long-term viability.
As a result:
- Broad "altseasons" (widespread altcoin rallies) are becoming rare.
- Price movements are increasingly isolated to short-lived pumps.
- Discovering legitimate projects requires deeper research and due diligence.
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BTC and ETH Dominance: A Sign of Market Maturity?
Despite the explosion in token count, market value remains highly concentrated. Bitcoin (BTC) and Ethereum (ETH) together dominate a significant portion of the total cryptocurrency market capitalization.
Other notable players include:
- Binance Coin (BNB)
- Solana (SOL)
- Cardano (ADA)
- Ripple (XRP)
This concentration underscores a critical truth: while millions of cryptocurrencies exist, only a small fraction achieve real-world adoption, liquidity, or utility. Most smaller projects struggle to gain visibility or maintain active development.
Regulation and Market Dynamics
Regulatory scrutiny is increasing worldwide. Governments are stepping in to combat fraud, money laundering, and investor exploitation. While stricter rules may reduce the number of illegitimate projects, they also raise barriers to entry for honest innovators.
Market cycles also play a role:
- Bull markets encourage new launches and speculative activity.
- Bear markets act as filters, eliminating weaker or underfunded projects.
Over time, this natural selection process may lead to a more sustainable and trustworthy ecosystem.
Frequently Asked Questions (FAQ)
How many cryptocurrencies have failed?
Between 2013 and 2025, at least 12,383 cryptocurrencies have failed. Common reasons include low trading volume, scams, abandoned development, and unsuccessful ICOs. Key red flags include delisting from exchanges, zero on-chain activity, and inactive teams.
How many cryptocurrencies are listed on Binance?
As of July 2025, Binance lists approximately 402 cryptocurrencies. As one of the largest exchanges globally, Binance curates its listings based on security, liquidity, and project fundamentals.
How many cryptocurrencies are created every week?
Exact weekly figures aren’t publicly tracked, but estimates suggest thousands of new tokens are launched weekly, especially on networks like Solana. Most are short-lived and see little to no trading volume.
How many cryptocurrencies are tracked on CoinMarketCap?
CoinMarketCap currently monitors over 18,815 active cryptocurrencies. The platform provides real-time data on price, volume, market cap, and contract details for vetted digital assets.
How many cryptocurrencies are available on Coinbase?
Coinbase offers trading for around 273 cryptocurrencies. Known for its strict listing standards, Coinbase prioritizes regulatory compliance and mainstream adoption.
Does a higher number of cryptocurrencies mean more innovation?
Not necessarily. While increased token creation reflects accessibility and experimentation, true innovation remains rare. Many tokens lack utility or solve non-existent problems. Sustainable growth depends on real-world use cases, not just quantity.
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Final Thoughts
The number of cryptocurrencies has grown from hundreds to tens of millions in just over a decade—a testament to the power and accessibility of blockchain technology. However, this growth brings challenges: oversaturation, misinformation, and increased risk for investors.
As the market matures, focus is shifting from quantity to quality. Long-term success will depend on projects that deliver real utility, strong communities, and transparent development—not just viral marketing or quick gains.
For users and investors alike, navigating this landscape requires caution, research, and access to reliable tools. The future of crypto isn’t about how many tokens exist—it’s about which ones truly matter.
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