Number of altcoins keep increasing!

[Alisha-k]

We should be expecting even more because the industry is becoming highly competitive and within a short time most of the shit coin would be eliminated and more would still surface. Mind you it's a market and when you visit a market you find all kinds of commodities so crypto market shouldn't be an exception you should even be expecting more the only role you have to play is doing your own research

[Benefactor]

Investigate projects like Cofound and numerous others , they are shutting down and some of them even flee with last bits of crypto. Altcoins on the grounds that a huge number to be phony and that is the reason it's important to give exhaustive examination on which at any point project you need to put resources into in light of the fact that many have awful administration which can't make them remain, because of anybody can make a task which wouldn't be recorded.

[gundala]

Because there are Billions of potential people full of ideas that can be put into crypto. Okay, why there are a lot of cryptos every day? In my personal opinion because the people are aiming for money which possible through crypto. By creating one meme or fake coins can catch investors. Another possible reason is the the people are looking for another face of trend to have a convenient life.

despite the many innovations that can be developed with cryptocurrencies, this ecosystem is an easy ground for fraudsters to use to make a profit. Moreover, many people fomo and join without any preparation so it is easy to be trapped. So it's no wonder many altcoins are created every day, whether they are projects that have real potential and were created with a unique purpose in the future, or are just created for hit and run.

[Connor Britton]

Now, there are still new tokens being issued every day, and every day there are tokens exiting the market. Now the market for cryptocurrencies is becoming more and more competitive, but many scammers are copying other basic technologies, and there is no innovation, we must understand when we invest, do not invest on instinct,

[ARTURVH]

Now altcoins is increasing rapidly. There are many new ICO projects also . We can see  the cryptocurrency market is booming. Exchanges should do their best to review new altcoin projects。In fact many projects are rubbish in market.

[JillianTaft]

Everyone can create a token. I have seen similar posts on the forum before. You only need to provide funds, and he can do all the technology. He can create tokens for you, but can the created tokens survive in the market? Is it recognized and can be trusted? I saw a lot of rubbish coins, and some money ran away. Some of the negative effects of the crypto market are caused by these people.

[Sithara007]

Everyone can create a token. I have seen similar posts on the forum before. You only need to provide funds, and he can do all the technology. He can create tokens for you, but can the created tokens survive in the market? Is it recognized and can be trusted? I saw a lot of rubbish coins, and some money ran away. Some of the negative effects of the crypto market are caused by these people.

Not just tokens, but coins as well. The source code for many of the existing projects is available on the internet. You can plagiarize the code, add some content of your own, make some changes to the UI and come up with your own cryptocurrency (a lot of people are already doing it). And then if you could spend some money on social media promotional campaigns and exchange listings, then you can claim the ownership of a full-fledged cryptocurrency. And then you can trigger a pump-and-dump cycle, sell your coins and make the exit.

[izsara]

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.

giving here we have to be really observant in determining coins, which is how we choose coins that are really good and coins that are really useless.
because basically everyone can make the coins they want but a lot of their coins that are made the best are useless and trash in my opinion.
and from here we have to be really observant in choosing because basically this is related to the assets we have if we choose the wrong coin we buy if it's a shitcoin it is certain that your money will run out.

[Roy Asher]

I don't think how many altcoins have much influence. Only the truly meaningful and valuable tokens will be chosen by people. Therefore, when people choose, they must understand clearly what they are investing in. Don't be blindly. Choosing a promising one among the many currencies will bring you considerable benefits instead of losing everything.

[Tina H]

I think that the newly released altcoins every day prove that the encryption field is the future trend, so so many new altcoins will be created. Although some creators are not pure, they may only serve their own interests, but this shows that this field is accepted by more and more people. I hope that new users who have just entered the market can distinguish the currencies that are really worth investing in.

[bitcon]

Crypto market is really growing very rapidly. Actually, everybody can create his own token, because of its simplicity, we observe this rise.

But most tokens die because they don't carry any idea or value, so looking at tables in coinmarketcap, for example, we can say that only maybe 100 currencies from 10 000 are really popular and people will use them in the future as well.

[Renampun]

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!

it doesn't matter that more and more new altcoins appear, investors will choose only trusted ones...

The Crypto market has a big-money turnover so it attracts the attention of the developers to create new coin projects to grab the attention of the market. every day new coins appear and every day there are coins that die.

[Golftech]

Crypto market is really growing very rapidly. Actually, everybody can create his own token, because of its simplicity, we observe this rise.

But most tokens die because they don't carry any idea or value, so looking at tables in coinmarketcap, for example, we can say that only maybe 100 currencies from 10 000 are really popular and people will use them in the future as well.

Few will recieve support from end users as they are concern about the future usages of projects,

those newcomers will have a hard time sorting which new project to support since most of them

ended up nothing, you need to really do a hard research before taking your chance investing if

you want to avoid being scammed out.

[livingfree]

I don't think how many altcoins have much influence. Only the truly meaningful and valuable tokens will be chosen by people. Therefore, when people choose, they must understand clearly what they are investing in. Don't be blindly. Choosing a promising one among the many currencies will bring you considerable benefits instead of losing everything.

There are meme coins that have been chosen by the people to invest and thinks that it will rake them money afterwards. We just can't stop those people who randomly buys coin in the market because it's what they like and think that will make them money.

But those who have been with the market for so long understands the importance of buying the correct coins because it's one of the reasons why they stay in the long term.

[clarkt]

The op observation was in 2018 and he believes the  cryptocurrency market is saturated with lots of altcoin.  Now,  it is 2021 and a lots have changed in cryptocurrency.  I think no matter the quantity of altcoin,  the market will self regulate some how.  The reason I said this is for the simple reason of cryptocurrency circle,  you will realise that when altcoin increase in number as a result of a popular trend,  it will equally reduce in number when the trend is over, and I believe this is how market self regulate!

[avarnet]

It's actually good that a lot of altcoins and other tokens are introduced to the market so that the market or market will be busy promoting or being introduced so that there is competition so the spirit in the market starts to live when market demand has started to rise so every altcoin and token can produce carefully, so in the future The crypto currency market is so crowded that tokens or Altcoins that are not needed or are underpriced can be compared with others, so that later what is not needed, we can hold it in the market, so that when there are no other coins, there is no food. the coin that was used for the next material and could be very valuable

[Blowon]

I think this happens because blockchain has unlimited ideas, can be combined with any industry, so it becomes a better industry and a new cryptocurrency is born, and will continue like this, so we can see there are very many cryptocurrencies, even some of the same concepts until they become rivals, and the top 10 are a great option to invest in.

[llecrf]

From the list of new coins on coinmarketcup,
of them have abandoned by developer because project didn't do update in long time, new project is urgently needed but some developer try to copy and paste from other project, therefore always doing research and experience in investing is needed to avoid fake project in future

[indo1]

I guess it will never go down, there is always a new one even every minute of it, I've seen it on the pancakeswap channel where every minute there are always new altcoins made, some may be shown to be true for business, but some are also shown only for education or community.

[jinneas]

The popularity of the cryptocurrency trend has created many altcoins in the crypto market. Many creators see opportunities in the crypto market, the purpose of their creation of altcoins is to realize that the profitability of cryptocurrencies is not the same as Bitcoin that brings investors' benefits. A large part of them are scams, they just wait to make a profit from investors before they disappear.