Is the large variety of Altcoins hurting the market?

[TheClownSong]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

It's good imo, it's not bad to have variety of altcoins. Trash altcoins will be dead by itself because people will not buy it, but good altcoins will keep survived. As a trader, large variety of altcoins is nice, so i can trading with many altcoins and can see many potential on every altcoins.

Too many altcoin have similiar project. I think its good for competition but if too many similiar project and price in exchanger very low, i think its not good for market because investor lossing hope. Its much better if altcoin with similiar project merger and make the project can compete in market cap value

[MMS2017]

if altcoin has the potential to show itself in the market then it is happened that when ever people like to use it the demand and supply change the value of the market, Crypto market is fluctuating but the strong and good coins makes better the market and the incompetent one hurt the market but it is not a problem of us it is good to do trade in the market.

[joshy23]

  You could make the argument that if all of the capital in crypto only had to be spread across 50 coins that that would make each of those coins extremely more valuable.  In light of that thought, is the huge variety of Altcoins ultimately a good or bad thing for crypto? 

It's good imo, it's not bad to have variety of altcoins. Trash altcoins will be dead by itself because people will not buy it, but good altcoins will keep survived. As a trader, large variety of altcoins is nice, so i can trading with many altcoins and can see many potential on every altcoins.

Opportunist sides of  a traders will agree with that, but for real crypto supporters the market is affected by this alts which keep showing around, the more its offer the more traders will split their money, alts without future will die and those who bought it will lose their money making them frustrated and leave this market, we do have our own options make a good use of it.

[popolite11]

A large number of coins only complicates the choice. In general, this is quite a positive phenomenon for the market, because it is an indicator that crypto is developing and expanding its spheres of influence.

not a bad thing in my opinion, increasing the market really helped develop Crypto so that it could be better.
make a choice so we definitely choose Altcoin which is really good, although many are good so choose a choice, the most important won't be dangerous.
Altcoin will help the market become more popular with the increase in Altcoin.

A large number of various tokens brings harm mostly to beginners. They cannot take a decision which of them to choose. Many new investors make the wrong choice and lose. later, they leave the market and it falls.

[babarian]

yes of course I really agree with you, I also think that the more coins that are created, the trading volume of a coin will be divided so that volumena becomes smaller, unless the increase in new coins is accompanied by an increase in new capital of investors.

[Haterstestbtc]

Personally,I would have wanted a lesser number of altcoin to invest with because the more options you have the lesser the chance to pick up the best among the many.It is also very difficult to identify trash and legit coins because sometimes what looks so enticing are actually the invaluable one.

[jrrsparkles]

Not really,having as much as coins is the benefits in long term but ot all coins are going to survive so having many coins will not create any such issues about usability but in price it might be a cause since lot of people trying to invest on new coins by paying with their coins like bitcoin and ethereum but most of those new coins will never get any value.

[igor.vanyutin.83]

I do not think that a lot of coins are hurting the market. The main pain point is the lack of working products, if every coin on the market would already have a working solution, the prices would vary dramatically and we would have already reached the mass adoption.

[BlueStackz]

Rather, such a huge variety of projects in the first place hits the pockets of investors who have invested their money in projects that eventually turned into garbage.

a lot of projects are like that, very unfortunate even though from the beginning it has looked good with its development, but the results are very disappointing. because it ends scam and will not produce anything. that makes investors sometimes lazy with new projects and choosing on assets that have been registered in exchange.

Those assets that you said has been registered in exchanges are honestly too much, what are we doing with over 2000 coins in this small crypto space that is yet to witness large adoption rate, even if we witness large adoption rate. The highest coin we should even have in the cryptocurrency space should not be more than 20 at most for utility tokens.

For exchanges too, I don’t also see the sense in them having to create coins. You are already an exchanger dealing with other coins, do people have to change to your coin to get their money change. Too many projects are really killing the crypto interest as the little capital floating round the market is being diverted into different pockets and not channeled to making some of the few good coins more valuable. If we had just 20 coins, do we know what the value of BTC, ETH and others would have been by now?

[microbb8]

I think affects. Every altcoin has a capitalization. And it determines how much it weighs on the market. The smaller the altcoins, the smaller the choice of what to invest.

[bitcoinposts]

The altcoin economy is really changed in last 2 years if btc price is increasing altcoins used to decreased or get pumped but now the market is such a condition in both pump and dump altcoins are nt getting pumped at all due to they are more number of coins in the market