Is the large variety of Altcoins hurting the market?

[kissme09]

About 80% of Altcoin has no liquidity, no exchanges from traders. But most Altcoin is listed on CMC and not removed. And still, get value statistics, so I think the market-wide value listed on CMC is fake numbers. We should evaluate the true value policy and remove shitcoin. Do not judge all Altcoin is negatively affecting Crypto.

[Wintersoldier]

  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? 

I've heard about that, basically, I hope there should be a contest on the crypto assets in the market, that all the unfavorable and not competent coins should be eliminated in order to congest the market price and market capitalization only to those that can make the world benefit on cryptocurrency.

[CryptoCoinArbitrage]

It is making hard time for investors to select from so many projects and it make some confusion. On the other hand competition is healthy and let the market decide which idea and project will prosper.

[isen]

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.

[Eildosa]

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.

[budakjawa]

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.

[Sundaey]

Yes and no. Which means positively and negatively, altcoins has been the ones who makes the whole crypto game make sense and believe that people really invest in altcoins than bitcoin, although the numbers increases every day and it changes the market values.

[bartusv]

It has positive and negative sides. It is good to have big competition among different projects
and ideas and let the market decide which one will survive. On the negative side it is quite
difficult to  filter out the high potential ones.

[MalakEnay]

  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? 

Actually I think that things would not change so much, because currently the top 20 of the market occupies 90% of the marketcap, and the remaining 2,118 cryptos are taking that small slice of 10%. So if we proportionally distribute that capital between the top-20, the increase in price would be just 10%, something very small compared to the large pumps that can be observed frequently in this volatile market.

[Ochakemaput]

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.

[bajindul88]

  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? 

Not necessarily friend, because we will not be able to guess that under the top 50 scattered altcoins will probably touch the top 10 because nowadays many people and developers are flocking to make coins for the future to be the next bitcoin competitor. it is not impossible, but it requires hard work and a great community to make it happen

[BennyK]

The large variety of coins on the market show how cryptocurrency is growing gradually and this is what will take crypto to the door-step of the rest of the world. Blockchain offers limitless usage hence projects will keep utilizing it. What matters most is the capabilities of these projects to meet the expectations at the end of the day.

[Greeno Force]

The main part of the projects is aimed at a quick profit, and only a small part of startups is aimed at something really worthwhile. I think it really hurts the market. But still, bitcoin plays a more important role in the market.

[charlop24]

In my opinion, if there are only 50 coin in the cryptocurrency industry, it would make increase the influence of whales who may hold all the coin available in the market and determine the prices for the coin. Secondly, decentralisation of the financial market which is a key component of the cryptocurrency space will not be achievable.

[bonker]

  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? 

Lot of new worthless crypto projects hurting the market more than the available cryptos where the market cap values got spread all over the coins.

Huge variety of coins is actually good but what will happen if everyone starts to create their own cryptos.

[puremage111]

Well its good for diversification
Bad for investing into wrong altcoins

Because basically 80% of the altcoin couldn't perform in the long run, might be 90% hmmm

[angrybird3591]

This is very bad. now there is a huge amount of alt being developed, but the decrease in user demand since 2018 has many ico scams causes this price to drop so much.

[angrybird3591]

About 80% of Altcoin has no liquidity, no exchanges from traders. But most Altcoin is listed on CMC and not removed. And still, get value statistics, so I think the market-wide value listed on CMC is fake numbers. We should evaluate the true value policy and remove shitcoin. Do not judge all Altcoin is negatively affecting Crypto.

I think so. Now need to purify the shitcoin. Almost all new alts are on extremely low liquidity exchanges

[sirohige]

This is very bad. now there is a huge amount of alt being developed, but the decrease in user demand since 2018 has many ico scams causes this price to drop so much.

it has become natural if the request for cryptocurrency and ico starts to decline, because they are the popes or some traders are stuck at high prices, they already bought bitcoin when it touched the price of $ 20k and it made many people traumatized and afraid to enter the cryptocurrency world again.

[steveabrahams]

  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.