2024-04-15
According to the crypto CoinGecko, over 500,000 altcoins have already been created between January and early April of this year.
CoinGecko analyzed data from its decentralized exchange (DEX) tracker GeckoTerminal and found that a total of 2.52 million cryptocurrencies have been launched to date, including transient memecoins and failed projects.
This number is 5.7 times higher than the 440,000 cryptocurrencies that existed at the end of 2021.
In the period between January and April of this year, 540,000 new tokens were launched, averaging around 5,300 new tokens per day in 2024.
Comparatively, 2022 saw 720,000 new tokens, while 2023 recorded 830,000.
CoinGecko predicts that 2024 is on track to surpass 2023 in terms of the number of new tokens on the blockchain, as the current figure already exceeds half of what was launched in 2023.
The memecoin season, which started in late February this year, contributed to a record high of 195,735 new tokens launched in March 2024.
