Number of altcoins keep increasing!

[blockman]

Now many investors pay close attention to digital technologies and actively invest in DeFi and blockchain.

And in NFT too. We are investing in the projects that are working in blockchain. This makes the defi market become crowded and makes a lot of these projects get out of the sight of most investors because they're competing with each other.
As for the new projects that are leaning only to the coin or token that they've made, they're likely to survive if they're going to get the sale that they needed but if not, they have to try again with another project that they may end up.

[1714909356]

1714909356

[1714909356]

1714909356

[1714909356]

1714909356

[1714909356]

1714909356

[1714909356]

1714909356

[1714909356]

1714909356

[Bertyda]

The more popular the cryptocurrency, the more altcoins appear.Investors have a very large selection of projects. But before you take part in the project, you need to carefully study everything. Here is an interesting articles about the importance of DeFi and its practical use https://eqifi.medium.com/defi-explained-what-are-variable-rate-products-eqifi-ba369645bf24

Blockchain technology and DeFi provide many advantages, they allow people to solve problems. Now many banks are considering the possibility of using blockchain technology and the advantages of DeFi.

DeFi offers people to unite to solve problems together, besides DeFi makes financial services available to everyone, even for those who do not have access to banking services. DeFi makes people's lives easier, which is why they are so popular.

[Argoo]

Having this many coins in the market will definitely continue to hinder the market developing much more than this. Because there are so many shitcoins in the market. And at some point, we'll need to get rid of them to have a better cryptocurrency market. Some people say that 90% of the coins will be dead. And there will be only the strong ones left.

If you are going to think how these coins will be eliminated? Well it is the market that will dictate the course of these coins. If people are not interested and the coins is not interesting enough to merit their time and attention then that would be sufficient enough for the coin to stop circulating. It is always the responsibility of the investors to research and check which coins really merit their attention and give their full support. Once the coin sees there is no one who is interested on it then it will simply wither.

We should not forget that the cryptocurrency market is a decentralized market and only its ordinary laws can work, naturally removing everything unnecessary and unclaimed from it. According to CoinMarketCap, there are already 11,115 types of cryptocurrencies and their number continues to grow. Thanks to the open source code of existing coins, everyone can create their own cryptocurrency, make changes to them at their discretion. This ensures the rapid development of the cryptocurrency market and this is certainly very good. Everything else, including the creation of useless and fraudulent cryptocurrencies, is already incidental costs that will be eliminated by a natural process. Therefore, it is not worth interfering with this natural process by centralized and imperious decisions.

[Noruka]

Currently there are many Altcoins and each has a different program from the various products provided such as wallets, financial systems, security systems and others. If you look at it, it might be very confusing for us to choose the best Altcoin to invest in, and maybe we can see from the leading sponsors behind the scenes to be able to see the advantages of the products offered by these Altcoins. I think we have to see whether the opportunities offered by the Altcoins program are good or not to be able to see future developments, and this choice is very difficult because it can lead to scam projects and to overcome them it is very necessary to share information with friends. following Altcoin investment.

I wouldn't go with too many different alt coins unless they are based on Ethereum or Binance Smart Chain. Then you can at least use metamask wallet, which is very practical with the option to switch back and forth between the networks. As for the different products you are mentioning, there are more copycats out there than genuinely coded features into newly launched coins. Most of those coins don't bring anything new to the table at all despite a different maximum supply...

I think that is what is mostly happening anyway and why it is hard for other smart contract platforms to gain traction. BSC and ETh are so big that the project teams also consider whether they can reach a sufficiently big audience if they launch on yet another smart contract platform where those who are interested have to get another wallet again, sure everything etc. Most have an ETH or BSC wallet anyway due to the practical switch in Metamask and they wouldn't prefer to have another wallet going.

[Garsipop]

The more popular the cryptocurrency, the more altcoins appear.Investors have a very large selection of projects. But before you take part in the project, you need to carefully study everything. Here is an interesting articles about the importance of DeFi and its practical use https://eqifi.medium.com/defi-explained-what-are-variable-rate-products-eqifi-ba369645bf24

Now many investors pay close attention to digital technologies and actively invest in DeFi and blockchain.

DeFi provides opportunities that traditional financial institutions cannot offer. Therefore, now many people use DeFi, and there are also projects that combine the capabilities of DeFi and traditional finance.

[Rimueng]

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!

Indeed, many altcoins that are in the market today do not affect market capitalization, because their prices are very low. But we understand that it is a coin for long term investment. If the developer is serious about running the project, the price will increase in the next 5 years.

yes it's true what you say, but 5 years is a very long time for the growth of the value of a digital currency, if the price growth time takes 5 years it seems the digital currency developer is not serious in running it. in my opinion the longest lasting low price of a digital currency is 1 or 2 years, if five years it is a failure for that currency

[King Khaizan]

if we look at it positively, the increase in the number of altcoins is certainly very good for the future of cryptocurrencies, so that there will be more interest if all altcoins can grow well. but a big problem will have a very negative impact if it is done for bad purposes so as to make the future of cryptocurrencies even more bleak and lose many enthusiasts, this kind of thing must be our common concern.

[Ever-young]

The more new project's are coming on board so will new currencies be introduce, because its the tokens represents the projects except those projects that don't need funding then they can make use of stable coins like DIA, USDT, BUSD or any of the generally accepted coins like BTC, ETH BNB and many more.

[Masyudhi]

as we all know that every day more and more new projects are launched and the trend is increasing just like defi and NFT. because each believe that they have the right idea, they will definitely try to make it a reality and most of the NFT projects are based on the concept of blockchain games.

most people also mention that but forget to mention the name of the token. we know NFT is now popular but not many give the name of the NFT token. I became suspicious, maybe there are many members here talking about NFT but don't know which is the NFT asset.

I myself support the DeFi project from the nominex exchange. it looks like it's going well and has long-term future planning.

[fortune1002]

The number of altcoins does not matter, because everyone can create tokens by giving a small fee. There are many coins that are useless and have no value and there are many other coins that can be bought but can't be sold. So beware of these scams.

[otundebis]

My guiding thought in Cryptocurrency market is to be cautiously optimistic!  Cryptocurrency is an emerging market of finance and other uses.  We need as many coin that will proffer solutions to different problems as possible.  So,  I don't get worry about lots of coin., as a matter of fact,  I welcome them.  Those coin that are not useful will fade away and the valuable ones will stay and increase in uses and development!

[tiffcrz]

You are absolutely right there are many useless coins. actually most of them are useless and this market is making them to bleed and disappear. But still there are many projects with a solid road map, real-life utility and a transparent team which make them to be stable and surviving like ETH, ADA, LTC, XRP, XSN and so on

[daporivera]

The increase in number of altcoins can be attributed to fake projects been launched on a daily basis. It's quite sad that anyone can wake up and decide to launch a token, pump it get people to invest and dump it. It's part of the decentralization that comes with cryptocurrency. Ensure you do an in-depth analysis so you don't fall in their trap.

[iged_war]

The number of altcoins does not matter, because everyone can create tokens by giving a small fee. There are many coins that are useless and have no value and there are many other coins that can be bought but can't be sold. So beware of these scams.

altcoin number will always growth day by day and no one could stop it. As investors we only need to stop them scammed us. Make a list and short altcoin projec that will pick up could help us identity them. Especiall in trending project, usually alot scammer there.

The increase in number of altcoins can be attributed to fake projects been launched on a daily basis. It's quite sad that anyone can wake up and decide to launch a token, pump it get people to invest and dump it. It's part of the decentralization that comes with cryptocurrency. Ensure you do an in-depth analysis so you don't fall in their trap.

cryptocurrency growth have negative effect to us, unresponsibilit person taking advantages from this changes. they will build fake project and at the end take our money.

[Valak]

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!

Indeed, currently many new cryptos are emerging in the market, but not a few of the previous cryptos have died, meaning that the market capitalization is not too much to increase. If there are 100 new cryptos in a year, maybe more than 100 will die. Like human life on this earth.

[rahmathidayat93]

Indeed, currently many new cryptos are emerging in the market, but not a few of the previous cryptos have died, meaning that the market capitalization is not too much to increase. If there are 100 new cryptos in a year, maybe more than 100 will die. Like human life on this earth.

And the 100 newest cryptocurrencies also don't last long, so they also die easily after the trend is over or after their development stops, meaning that none of the cryptocurrencies last forever and even Bitcoin itself can die for several good reasons.

[nurilham]

Thats really crazy, we started with doge projects and now we are on the era of baby projects...hundreds of shit coins without any concept or meaning but simply "keep away from this shit"

The solution is easy, just don't buy any kind of meme coins like Doge or the like. If no one buys those shits coins, they won't survive a long time. Unfortunately, some people keep buying those shitcoins, so there are more shitcoins projects appearing. But I think the trend of these shitcoins won't last a long time. It will be over soon, especially after we are in the bearish season.

[iTradeChips]

Thats really crazy, we started with doge projects and now we are on the era of baby projects...hundreds of shit coins without any concept or meaning but simply "keep away from this shit"

Many of these fake developers, took advantage of the DOGE based coins and I don't blame them. They are merely taking advantage of the hype that was created because of Elon Musk's support with DOGE and Bitcoin. I don't even want to call them fake developers as they know the computer mumbo-jumbo, might as well call them hype developers because they are taking advantage of people's fondness of everything Shiba Inu related so they made sure that they will also get their coin through aggressive marketing on social media.

[btc-facebook]

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!

That is an interesting fact, but don't focus on the quantity of coins, because quantity is very different from quality, you better focus on the technology that the coin has, even though there are already many tokens or coins but it is possible that there will be new coins that have better technology than old coins. For example MATIC and ONE have better technology than old coins like NXT or VTC

[Devifajarina]

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's true what you say, I also don't know why there are too many altcoins created in the market, it makes us even more confused about choosing the best, the tendency of many altcoins does not provide an opportunity for us to invest, considering it is very difficult to identify altcoins that have good potential At the moment.

There are some altcoins that are not needed in the market, not because altcoins are not selling well, but the current altcoins do not provide good value to stay in the market, many people are starting to speculate, that altcoins will find the right day to increase their sales, both buying and selling prices, I don't think it's true what people make of this speculation.