3000+ Cryptocurrency on Coinmarketcap

[Duzter]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

[Wysi]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

It's not good sign as it's a sign of worriness wherein more than half of the crypto coins are in exchanges without trading volume and there is no use of quantity we expect quality products in order to prosper the crypto world. I think Coinmarketcap cap should filter those dead coins and renew the list and it's high time we need a separate platform to check only the performing coins.

[avikz]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

It's the true danger of a decentralized network, where anyone and everyone can participate without the fear of being identified or restricted! It's not a great scene to have 3000+ cryptos available in the market where 99.99% of them doesn't have any real-world utility! It is only making the situation worse and investments are getting divided among many! We certainly don't need one crypto to buy food and another to buy movie tickets! The market is just going to be over-crowded with thousand of scammers in disguise of a crypto creator!

[Expecto]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

This is not a good thing for sure. There are too many worthless cryptocurrencies in the market and it will be like that as long as the system lets any cryptocurrency into the market. I hope there will be something to do about this situation in the future.

[teosanru]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

Things actually are pretty different now compared to what they were back then. Actually back then we were having a low BTC dominance of around 40% which means 3000 Cryptocurrencies were actually floating around with maybe a minor volume. But now with BTC starring most of dominance rest of the 3000 is merely a joke. They hardly get traded and their last traded prices are over 20 days ago. They just have a fictitious market cap which can vanish anytime. So I don't really think this is a good thing. We don't need new cryptocurrencies anymore we need the ones already there to get align with their motives.

[NeuroticFish]

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

Altcoins can be a good thing. They can be the training ground for new ideas, they can back interesting projects.
But right now they are out of hand. Too many worthless projects only live to create a bit of hype, get listed, drain some investors' money and die off.
It's not CMC. It's also the discussions and spam(!) associated with them (which they make for increasing awareness).

In certain limits it would have been healthy. But we are way beyond those limits.
Can we do anything to distinguish the completely irrelevant projects and stop them from getting listed at exchanges, from getting discussions around them on forums, reddit, twitter and so on? Not really. 


TL;DR: it's not healthy, but there's no solution against them either.

[bassbity]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

It's not good sign as it's a sign of worriness wherein more than half of the crypto coins are in exchanges without trading volume and there is no use of quantity we expect quality products in order to prosper the crypto world. I think Coinmarketcap cap should filter those dead coins and renew the list and it's high time we need a separate platform to check only the performing coins.

Well, from 3000+ cryptocurrency does not necessarily have a bright future, many products die when the price of the token has no value, so I only rate 70% real Coinmarketcap and others have no volume, and I wonder why Coinmarketcap no cryptocurrency removal action is dead.

[BlacksmithCorporation]

The CMC only lists the coins that qualify for it, there are a lot of coins that are not listed on the CMC, so the actual number of coins is a lot larger than the number 3000. I think we don't need to worry. about how too many projects will affect the cryptocurrency space, because Weak projects will get rid of themselves.

[DaMut]

In theory, this is a good thing because a fresh project usually brings new ideas and pressuring the existing project causing them to improve what they have right now. But in cryptocurrency, there is a few of them that brings a new idea and most of them are only copy-paste project giving us zero value.
in other words, the increase of total project is degrading the value of the system mostly other than bringing a new idea and growth to the system.

[asriloni]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

It's not a healthy thing, and I thought that more than crap coins not listed on CMC. You can see coingecko has a different result on the total existing coins in the cryptocurrency ecosystem and it's more than 5k coins.

I can say only a few hundred are still traded with volume more than $100, but the rest are dead coins.

I think CMC must start to delist the crap coin from there, but this will not help to make the ecosystem becomes healthy ecosystem again.

It's an unhealthy thing, and it's degradation of the cryptocurrency ecosystem. Even though CMC has already used new requirements to list a new coin but so many crap coins are being added every month, and the manipulation that comes from the exchange site is also a big problem.

[Kotone]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

Got a point. I think I gonna choose a market where its only few but the stability is good and lots of demand. New coins and tokens popping everyday, investors are torn apart which one is most suitable for their log term investing. But there are coins and tokens needed to be traded good in order to survive so this is unhealthy I think. I prefer a deep pocket project which can sustain longer in thr market even without much demand from trading and public.

[Ucy]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

It's not good sign as it's a sign of worriness wherein more than half of the crypto coins are in exchanges without trading volume and there is no use of quantity we expect quality products in order to prosper the crypto world. I think Coinmarketcap cap should filter those dead coins and renew the list and it's high time we need a separate platform to check only the performing coins.

I thought coinmarketcap filters out deadcoins? The site is probably overwhelmed or don't think it's necessary?
Well, I think sites like that would do a better job if they are properly funded. There are lots of factors to consider before delisting or accepting any cryptocoins. Would be nice if this is done right.

By the way, this issue is not unique to cryptocurrency world. If you could develop a coinmarketcap for real world businesses, you will be shocked by the number of dead/failed businesses in existence. This space is alittle more transparent and we are all overwhelmed by the truth. Should we then hide the truth and continue living in darkness? I don't think so.

Exchanges and sites like coinmarketcap need to be more thorough. I wish each exchange could have 2 seperate platforms, 1 for good cryptocoins while the 2nd will be permissionless for unfiltered coins. Users should be able to access both platforms.

[edmundduke]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

The ability to create your own token/coins is a positive thing. There will always be people who want to take advantage of anything to make money and scam people but i think the positives outweigh the negatives. Some of these coins bring a lot of new minds to the scene and with them innovation. It feels inevitable that large parts of the financial world moves onto using tokens but before this happens the innovation that these coins bring needs to happen.

[Chrystora123]

The CMC only lists the coins that qualify for it, there are a lot of coins that are not listed on the CMC, so the actual number of coins is a lot larger than the number 3000. I think we don't need to worry. about how too many projects will affect the cryptocurrency space, because Weak projects will get rid of themselves.

CMC only lists crypto coins from a coin that has real transactions.  Besides CMC, I also monitor cryptocurrencies on the smartphone application.  in that application, I see that currently there are a total of 6300+ cryptocurrencies circulating on the market...  the amount of cryptocurrency will continue to increase each year but natural selection will occur, @s you said that coins from weak and uninteresting projects will get rid of themselves.

[Doranile432]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

If they are all good coins and tokens it would have been a different story but since over 70percent of them are bad its really not healthy at all, all these useless coins share among the entire crypto volume and it would have been better if only few good coins share all that available volumes

[4maxzath7]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

I think as you, right now, on coinmarketcap has a lot of coin that doesn' t have a volume of trading in exchange,
i think these projects don' t focus on marketing project, and there' s no support for developing product development.

[Clark05]

Expect mors coin list to the coinmarketcap because there is more coins or tokens are coming every months. It's prove that cryptocurrency is good for investing money and the interest of the people are there because many people create a ccin or even the token. We saw a lot of changes happened in the CMC before the list of the token only hundreds or 1000 but loon it's more than 3000 and counting.

[Kupid002]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

Its not healthy since investors will be devided to invest in different coins and the price will also be affected with different demand .
If we can only stick to top 100 coins and improved morething they needed to make it more usable.
we dont need too many coins we need a coins that can be usable online or in real world currency.

[Rodeo02]

Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

I think as you, right now, on coinmarketcap has a lot of coin that doesn' t have a volume of trading in exchange,
i think these projects don' t focus on marketing project, and there' s no support for developing product development.

Even they have a good marketing plan this will not be enough . There are many coins want  to be supported and only few community supporting it .
because of too many coins in the market and many more choices  all of them have different goals / roadmap the investors is divided to different coins and that is the first reason why most of them has no demand.

[Herbert2020]

Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.

of course it is not healthy, it is lowering the quality of the "cryptocurrency market" and also it is basically reducing the value of the term "cryptocurrency" and at this point it is nearly equal to "crap". and the worst part of this is that all of them are worthless coins that are repeating the same ideas over and over again. if there were actually some innovations taking place then the large number wouldn't have been that bad. but unfortunately that is not the case here.