Number of altcoins keep increasing!

[finaleshot2016]

Now the scammers are also increasing with the number of altcoins. Many altcoins are useless, now we are confused about which is a good project and which will scam. I suggest you stay away from shitcoins many will scam. You will be able to buy but you will not be able to sell them because there will be no option for that.

You should always DYOR in the world of altcoins! Pump and dump schemes are common in altcoins, so you can win instantly and lose if you invest late in that coin.

I've made some money from pump and dump coins, but it's a huge risk; you really need to determine if the roadmap appears legit and will be followed throughout the year. Some developers are simply extorting money from newcomers by enticing them with appealing objectives and goals of the coin that are, in reality, a sham.

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[velosepur]

Last two years many new coins on crypto stage. That is crazy, every day a lot new and users are confused. Many useles coins, scam projects too. newbies cant see traps and they get disappointed at start of their crypto usage. i noticed even airdrop rewards are in millions of coins, new trend too.

[coinic]

Since the blockchain was an open source platform and there have been lots of people were creating and building their own blockchains and the introduction of the smartcontract was making it much more easier to create a new token or security token. Some people have complained about this but this can't be prevented because they were creating it with their own intention.
As long as you nor he was choosing the major coin and it must not be a problem.

Agree, the top coins or those in the top 10 of the list are more likely to have lower volatility and less risk than newly released coins. However, even though you have bought a major coin, it still does not rule out the possibility that you will lose too.

What I hate about the phenomenon of increasing the number of altcoins every day is that developers don't really have a strong desire to compete with other coins in a sporting manner. They too expect the coin to go viral and get high gains. This is one of the desperate traits of a fake developer who wants to get rich instantly.

Yes, many of coins was launched in ICO but mostly of them are disappear in just a few time. I hope that in your experience or you look below in plinth there will be more legit coin in order us to be more profitable

[Billo_]

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!

You are right!
Many new coins are only copies from existing coins or not useful coins at all. Many projects are also dying, when devs don't find solutions for it. Only very few coins will be succesfuly when devs find solutions and keep developing it for more use cases.

[inanilujimi]

altcoins are keep increasing without focusing on their quality nor future needs. most of altcoins are garbage and no use for it. And this is the reason, a big number of altcoins lost tbeir value and vanished from market. But even after all those shit happens scammers keep continue creating new altcoins for brand new tokensale and want to take advantage from user.  Its their common business technic

Yes, most people think that they can double their profits in the near future if they invest in new altcoins. but in reality they are just wasting money with false promises.
being more selective in choosing can make you avoid this pattern of fraud.

[monig]

Every day new coins are coming in the market. Due to this The market is improving and growing.But there are some side Effects.These new coins are Effecting the Market cap and new coins. After Few Days these coins vanishes.

[lizarder]

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 actually good if many altcoins are introduced in the market, meaning that these altcoins are a reference for beginners to invest. But there is no guarantee, the more coins that appear, then the industry can be said to be growing.
I think all coins are needed, not this year maybe next year.

All coins basically have value, but that value is determined by demand, so there are altcoins that reach their maximum amount too quickly, although there are other influences that make them reach that maximum value in a short time.

[Brus123]

No definitely most of these coins are not needed.  One could argue only a handful are actually needed.  I mean for 99.9% of them they are just clone coins that are all marketing and no substance.

If you think clone coins or similar coins are not needed, then only Bitcoin can be accepted. You should understand the name first, altcoins = alternative coins, what does it mean? Those are alternative options besides Bitcoin. But although they are alternative coins, they should have a role, have a purpose, and have functions. Can you imagine if only Bitcoin survives in crypto market? I doubt it can have big supports like today.

Only Bitcoin is not enough for the market, as like you said, altcoins surpass it in many positions. Some altcoins are faster, others are more private, all of them are cheaper etc. Moreover, bitcoin can’t show increases of 10 times or more in the short term. Nevertheless, altcoins are capable of increasing by 100 times easily, so they are more attractive for traders.

[KaliLinux]

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!

Well, this might continue to happen in the market but some of such non-relevant Altcoins that have been created before will also die of the market while new ones are been create. If the new Alts that are being created have a purpose to the market, they will certainly bring value as investors will definitely want to invest but if not, they wouldn't bring any value to the market.

[Xinarae*]

Every day new coins are coming in the market. Due to this The market is improving and growing.But there are some side Effects.These new coins are Effecting the Market cap and new coins. After Few Days these coins vanishes.

The reliability of new currencies is much lower in the market even if they show a good position at first they will scam everything when the amount of investment increases. Therefore even if the number of altcoins increases, it is necessary to choose the right currency by analyzing the market.

[andriarto]

Every day new coins are coming in the market. Due to this The market is improving and growing.But there are some side Effects.These new coins are Effecting the Market cap and new coins. After Few Days these coins vanishes.

The reliability of new currencies is much lower in the market even if they show a good position at first they will scam everything when the amount of investment increases. Therefore even if the number of altcoins increases, it is necessary to choose the right currency by analyzing the market.

indeed every day we seem to see new coins that keep popping up, many of them can't last much longer, but there are also new coins that have a reputation and potential later, this is like natural selection and indeed our job is to learn to investigate a new project carefully , because it can increase by thousands of percent if we get the right project

[bamb]

I think this is how Cryptocurrency market will continue to work in the short term. As number of altcoin keep increasing,  the number of fail altcoin is increasing as well balancing the amount of altcoin listed and doing well in Cryptocurrency.  In the long term period of  Cryptocurrency market,  I believe there will be fewer coin as a result of Cryptocurrency developments and adoption!

[zayika570]

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

DeFi projects are different, for any DeFi project you need liquidity and a large number of users, and for this you need advertising, and the project itself should be useful to people.

Now the crypto currency market has resumed its growth again and DeFi projects are increasing their popularity, especially projects in the financial sphere that help link cryptocurrency with fiat such as Eqifi.

[freedomgo]

I think this is how Cryptocurrency market will continue to work in the short term. As number of altcoin keep increasing,  the number of fail altcoin is increasing as well balancing the amount of altcoin listed and doing well in Cryptocurrency.  In the long term period of  Cryptocurrency market,  I believe there will be fewer coin as a result of Cryptocurrency developments and adoption!

Some will fail, some will succeed but guaranteed that only few of the many will succeed, hype is different from the real success, there are few altcoins now that have pumped but we can never assure that they will continue to grow, so it's really a big factor to look for the team and follow their development so we can make a timely decision.

[junkerr]

I think this is how Cryptocurrency market will continue to work in the short term. As number of altcoin keep increasing,  the number of fail altcoin is increasing as well balancing the amount of altcoin listed and doing well in Cryptocurrency.  In the long term period of  Cryptocurrency market,  I believe there will be fewer coin as a result of Cryptocurrency developments and adoption!

I'm quite the opposite. in the long term, there will be developed for every platform running in the market.
The adoption of blockchain will be huge. but the development of the platform with the adoption of altcoins will of course compensate for it all.
altcoins will be more and more, but the growth potential will last very long. because adoption can become a monopoly of competing altcoin assets that have been previously registered on the market.

[bitcoin-shark]

the freedom of the market also leads to this perhaps too many altcoins of which many are unnecessary anyone can create their own altcoin / token on any blockchain at a low price but perhaps this after all is not an absolute evil indeed a possibility of gain for those who know how to exploit it

[mamesso]

Now the crypto currency market has resumed its growth again and DeFi projects are increasing their popularity, especially projects in the financial sphere that help link cryptocurrency with fiat such as Eqifi.

The growth of the DeFi project proves that the future of cryptocurrencies is getting brighter. In the past when ICO projects dominated, suddenly IEOs appeared bringing new hope, and the IEO project proved to be a success. Now DeFi come offering a new concept in crypto project, there are so many new coin that emerge from the DeFi project and it is proven that DeFi is able to compete with other coin in the crypto market.
With the new generation, cryptocurrencies will continue to grow in the future.

[wajik-tempe]

I think this is how Cryptocurrency market will continue to work in the short term. As number of altcoin keep increasing,  the number of fail altcoin is increasing as well balancing the amount of altcoin listed and doing well in Cryptocurrency.  In the long term period of  Cryptocurrency market,  I believe there will be fewer coin as a result of Cryptocurrency developments and adoption!

I think that won't happen because new projects and coins are coming every day and there is no regulation to make a coin, so it's free and all people could make it anywhere and anytime. So i think new coins are keep coming and in the future there are a tons of coins on the market and maybe there will be one top coin each sector.

[Teknisi88]

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.

yes I totally agree with you.
I strongly support that as soon as possible the fraudsters who made this shitcoin cleaned up.
because this fraudster has made the crypto image a risky project so that the crypto project is considered a dangerous project

[lizarder]

Every day new coins are coming in the market. Due to this The market is improving and growing.But there are some side Effects.These new coins are Effecting the Market cap and new coins. After Few Days these coins vanishes.

Under normal conditions like this, many new coins appear on the market, but there is no strong reason to develop in a short time, basically good or the development of the market also has an influence on these coins.

Although this situation often makes the market more chaotic out of control, but actually the benefits of the presence of this new coin have both positive and negative values. This situation continues to force the coin to be where people want it, even though it basically fails in the market.