Number of altcoins keep increasing!

[omonuyak]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

[renes]

It does not matter, everyone can create a coin which is mostly useless and for nothing so it will keep rising, but good coins that will have impact on the industry also there.

[tenebriscaelum]

Sure there can be many altcoins that can be introduced in the market and it may confuse some users or take some share in the current state of it, however just remember that it will still be up to the demand of that coin or token whether they can be successful and will stay in the market. Sure there can be 10 tokens that will be added in a day but also 10 or more tokens are left out the dust too.

[therhslv]

Alot of them are currently dying while market bleeds . There was an article where was graph with all ICOS in 2017 and how many ETH , BTC they collected . Today almost all of them spent / sold collected funds . So it means they dont have funds for developing project further . Take a look at projects like Cofound and many others , they are closing down and some of them even run away with last pieces of crypto lol

[DarkDays]

They're all looking to grab their little slice of the pie. 99.99% of the altcoins are not needed, they are just niche implementations of more diverse platforms such as ETH and EOS. There needs to be a serious cull of these trashcoins, and I think over the next couple of years we will definitely see the vast majority of these get close to a $0 market cap.

Looking at CMC we can see that there have been over 1,000 new additions within the last year, as of writing there are over 2,000 coins listed on CMC, which means there was a 50% increase within a year - https://coinmarketcap.com/currencies/volume/monthly/

Almost 700 of these coins have a monthly trade volume under $100,000 ergo, they are pretty much dead.

This is going to keep getting worse until 99% of all coins have no trade volume, don't feed the trend, ignore trash new coins that offer nothing new. If they are a niche coin or have limited expected utility, o not pay it any attention, and don't even invest to dump later as you're just detracting funds from the main contenders.

[vrap.pm]

Scammers area all over the internet, and they like to seize a good oportunity to scam others making shitcoins. I hope this bear market times, will help the market to wash out all bad coins, and scammers that give bad name to cryptoworld.

[aoluain]

Its a lot of players looking to grab the same slice of cake.
The idea seems to be basically selling useless tokens for useful tokens
to people hoping to make a big gain many months after their initial transaction.

[oioioi]

there are even some who eventually plunge towards dead prices and cannot rise again, this is a considerable loss but can only be overcome by selling it cheaply and still getting something even though they cannot fulfill the desires or hopes that have been dreamed of

[supine]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

I think it doesn't matter, even if more and more altcoins come out of the market, only altcoins with real purpose and use will only last in the market. As time goes by investors are getting smarter. Investing because of pump is gone, most investors are after long-term profit in real projects and companies.

[Vaniaayu]

if I think the opposite is what you said above, because of the existence of new coins as evidence of the development of crypto in all fields, it can be proven right now, crypto has entered into the affairs of human interest from basic things

[slightmoon]

Yeah, No of alt-coin growing but the market-cap not make much difference. Even all the coins solution of some problem. But in same field many try to solve problem and just some can grow in the long term. In result some become shitcoin or useless.

[crzy]

It does not matter, everyone can create a coin which is mostly useless and for nothing so it will keep rising, but good coins that will have impact on the industry also there.

So many useless altcoins everyday and I think we cannot stop them for creating shitcoins for now but I hope in the future we will see a more strict policy about creating coins. We must be careful and invest only with a good coins who has its own product already.

[pedpedped101]

Talking in series of Altcoins coming up day by day. At this point I'll say there can be series of Altcoins but few are useful and moved the market. Investors needs to be very careful when it comes to investing on Altcoins because many tends to be fake and that's why it's necessary to give thorough research on which ever project you want to invest in because many have bad management which can't make them stand, due to anyone can create a project which wouldn't be listed.

[metalglowd]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

in some conditions, of course if you are smart it can be used to get profit, try to take part in the pre-sale event of the coin or token. of course you have to filter the project carefully. Because now the many scam projects (as you mentioned above) have learned how to scam better than before

[drlukacs]

At present, there are many altcoins as well as the new ICO, and this is perfectly normal because the trend of 2018 is that businesses themselves release ICO to be able to raise funds from the beginning Potential. Although there are many altcoins born most are altcoins, not potential.

[i7claufe]

Yes, that is why now more than ever we need ICO regulations. Few years from now most of the coins on the market will probably die and the mroe stable ones will be left behind.

[sweetrose1968]

The number of altcoins will never stop. It's almost like a domain name in the sense that they get created so quickly. There's a niche for literally everything when it comes to crypto. POS altcoins are getting created constantly and most are scams with a high POS to get more investors. The earliest succeed in these types of coins and the latter do not.

[WalkerIVIV]

I see alot of altcoins and tokens been introduced into the market every day and I keep wondering if that is how this industry will keep growing.  The number of altcoins does not translate to increase in the over all market capitalization of the cryptocurrencies market and it that means that some of the coins we currently have in the market is not needed!

The total amounts of altcoin in the coinmarketcap can't be trusted because they have counted the die coin and shitcoin. YOu can see that so many scam coin worth zero value and it should not be included on that list, AFAIK CMC could try to create such a new mechanism to determine the coin that filled all of criterias.

[zwiggel]

Right. The number of altcoins is increasing rapidly. There are many new ICO projects. This proves that the electronic money market is booming.

[bharatpatel]

Since block-chain technology still developing and we will see many new coin also. In my opinion every exchange have to list and delist every coin on specific volume based. So, Investors can avoid useless coin.