Hi Guys, since the day I have entered in to the world of crypto currencies, I was shocked to see the numbers of available currencies.
According to Coinmarketcap website, we now have 674 crypto currencies of various types which is more than the numbers of fiat.

Every now and then I am seeing a new currency is being introduced. I think this way we are harming the security of crypto currency sector. If this continues, government will have to intervene someday just to stop the free distribution of money (power) in to the society.

Also I see that the total crypto currency market size is 6,823,585,068 usd as per the above mentioned website and this huge amount of money is getting divided among these 674 currencies. The more people are moving to newer currencies, the lesser amount of money is getting circulated in to the established crypto currency trading, which in turn is decreasing the price of those currencies.

I think around 10-12 currencies are better that having 674 different currencies and it will not threaten the existence of crypto currency world.

What do you guys think?