In the realm of cryptocurrencies, the proliferation of digital assets is truly remarkable. Once dominated solely by Bitcoin, the decentralized digital currency space now boasts thousands of options. The continuous creation of new cryptocurrencies adds to the challenge of determining “How Many Cryptocurrencies” exist. This dynamic landscape offers a diverse array of features and purposes, reflecting the explosive growth in the digital asset market. Navigating this multifaceted space can be perplexing yet exciting, underscoring the ongoing burstiness of opportunities in the world of decentralized finance.
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How Many Cryptocurrencies Are There In The World?
According to CoinMarketCap, there were over 10,000 cryptocurrencies being tracked as of August 2023. However, this number is constantly changing as new cryptocurrencies are created while old ones fall out of favor. Cryptocurrency data sites estimate the total number of cryptocurrencies in existence ranges between 8,000 to 15,000+.
The enormous variety of cryptocurrencies can make it difficult for new investors to know where to begin. However, most of the industry is dominated by a much smaller subset of major cryptocurrencies. As an example, Bitcoin alone makes up over 40% of the total global cryptocurrency market capitalization.
Growth in Number of Cryptocurrencies
In the early years of cryptocurrency, there was only Bitcoin. Created in 2009, Bitcoin stood alone until new alternative cryptocurrencies began emerging around 2013.
The number of cryptocurrencies has skyrocketed since 2013:
- April 2013 – There were 7 cryptocurrencies listed on CoinMarketCap
- January 2016 – There were 600 cryptocurrencies
- January 2021 – There were approximately 8,000 cryptocurrencies
- January 2022 – There were almost 16,000 cryptocurrencies
- August 2023 – There are over 10,000+ cryptocurrencies tracked
Several factors have driven this exponential growth:
- The success of Bitcoin inspired many developers to create their own cryptocurrencies with new features or purposes.
- Many cryptocurrencies are created through forks, where developers clone an existing cryptocurrency’s code and release it with some modifications as a new currency.
- The rise of crypto token creation through ICOs, IEOs, IDOs, and other events allowed easier production of new cryptocurrencies.
- The emergence of blockchain platforms like Ethereum, Binance Smart Chain, Cardano, and others enabled users to easily create custom tokens.
Concentration in Top Cryptocurrencies
Despite the proliferation of thousands of cryptocurrencies, much of the industry is concentrated in a handful of top coins:
- As of August 2023, 65% of the total crypto market cap belonged to Bitcoin and Ethereum alone.
- The top 5 cryptocurrencies (Bitcoin, Ethereum, Tether, USD Coin, and BinanceUSD) make up over 75% of the total market cap.
- The top 20 cryptocurrencies account for roughly 90% of the crypto market cap.
This demonstrates that while there are thousands of cryptocurrencies, most of the value remains concentrated on the major established coins that have achieved mainstream adoption and use. However, this distribution is always shifting as new cryptocurrencies gain momentum and grow.
How Many Cryptocurrencies Are There in Binance?
As a leading global cryptocurrency exchange, Binance offers one of the widest selections of cryptocurrencies to trade. According to Binance, there are over 500 cryptocurrencies available for trading on the Binance exchange currently.
However, the number of listed cryptocurrencies on Binance is constantly evolving. New cryptocurrencies are frequently added through IEOs and listings, while others are delisted if they fail to meet Binance’s standards.
Some key stats on the number of crypto assets on Binance:
- 500+ cryptocurrencies offered
- 180+ Bitcoin trading pairs
- 400+ Ethereum trading pairs
- 120+ Binance Coin (BNB) trading pairs
- Dozens of stablecoins like USDT, USDC, BUSD, etc.
- Hundreds of BEP2, BEP20, ERC20, and other token standards
Binance also offers trading for futures, options, margin trading, lending, and staking across dozens of cryptocurrencies. With its wide array, Binance provides traders and investors with ample options to diversify across many different crypto assets.
How Many Cryptocurrencies Are There on CoinMarketCap?
CoinMarketCap lists most publicly traded cryptocurrencies and is one of the most comprehensive databases for following the cryptocurrency markets.
As of August 2023, CoinMarketCap was tracking:
- Over 10,000 cryptocurrencies
- 565 exchanges
- More than 48,000 pairs
- Over 19,000 total markets
Some key details on the cryptocurrencies tracked on CoinMarketCap:
- 69% are identifiable as tokens, 28% are mineable coins, and 3% have masternodes.
- The top 100 cryptocurrencies account for 90% of the total market capitalization.
- Over 1,300 cryptocurrencies have a market cap over $1 million.
- There are over 150 cryptocurrencies with a market cap over $100 million.
CoinMarketCap’s listings provide a snapshot of the entire cryptocurrency landscape. While most value concentrates in the top, there are still thousands of fledgling cryptocurrencies aiming to fulfill specific use cases or gain a share of the market. Monitoring sites like CoinMarketCap helps investors keep track of the exponential growth in the numbers of cryptocurrencies available.
How Many Cryptocurrencies Are There in India?
The cryptocurrency market in India has grown rapidly and features numerous India-based cryptocurrency projects. According to data from CoinMarketCap, there are over 100 cryptocurrencies associated with India through their foundations or primary operations.
Some of the most prominent Indian cryptocurrency projects include:
- Matic Network (Polygon): Layer-2 Ethereum scaling solution
- WazirX: Leading Indian crypto exchange acquired by Binance
- BuyUcoin: Indian cryptocurrency exchange and wallet service
- Giottus: Indian crypto trading platform
- CoinDCX: Major Indian crypto trading platform
- CoinSwitch Kuber: Indian crypto platform with over 10 million users
- Hoda V2H: India’s first crypto index
Regulatory uncertainty around cryptocurrencies has dampened adoption from major Indian financial institutions. However, India still maintains a vibrant crypto ecosystem driven by startups and retail investors.
The Supreme Court of India struck down a blanket ban on cryptocurrencies in March 2020. This enabled the proliferation of many new Indian crypto projects and exchanges catering to the Indian market. If regulations become more clear and favorable, the number of Indian cryptocurrency projects and users could accelerate tremendously.
How Many Cryptocurrencies Are There on Coinbase?
As one of the largest cryptocurrency exchanges worldwide, Coinbase offers trading for some of the biggest and most established coins. According to Coinbase, there are over 100 cryptocurrencies listed on their exchange.
However, only about 50 of these cryptocurrencies are directly tradable through Coinbase. The remainder are discoverable assets only visible on their Coinbase Pro exchange.
Some details on cryptocurrencies offered on Coinbase platforms:
- 60+ coins tradable on Coinbase.com
- 100+ coins tradable on Coinbase Pro
- Dozens of ERC20 tokens discoverable but not directly tradable
- Concentration in major coins like Bitcoin, Ethereum, etc.
- New assets require extensive review before listing
Coinbase takes a cautious approach to adding support for cryptocurrencies. They perform significant due diligence on new listings and ensure coins integrate with their secure storage and trading infrastructure. As a regulated US exchange, Coinbase does not list more obscure cryptocurrencies with higher volatility or unclear legality.
How Many Cryptocurrencies Are There Now?
Determining the exact number of cryptocurrencies in existence at any given time is difficult given the pace at which new cryptocurrencies emerge while old ones disappear. But examining sites that aggregate data on thousands of cryptocurrencies sheds some light on the scale of the industry.
Here is a snapshot of the number of cryptocurrencies according to different sites as of November 2023:
- CoinMarketCap: Approximately 10,000 cryptocurrencies
- CoinGecko: More than 13,000 cryptocurrencies
- CoinLib: Nearly 7,000 cryptocurrencies
- Statista: Estimated range between 8,000 – 15,000 cryptocurrencies
- Cryptocompare: Around 2,000 cryptocurrencies
So by most accounts, there are between 8,000 – 15,000 cryptocurrencies in circulation today. The total market value of these cryptocurrencies exceeds $1 trillion.
The vast proliferation of cryptocurrencies highlights the level of innovation and experimentation underway in the crypto ecosystem. However, it also means investors must thoroughly research any new cryptocurrency before investing to avoid scams and low-quality projects. Sticking to more established cryptocurrencies with clear utility and active development tends to be lower risk for most investors.
How Many Cryptocurrencies Are There on Robinhood?
The Robinhood trading platform took the investment world by storm by offering commission-free trading of stocks, ETFs, and cryptocurrencies. Robinhood offers exposure to cryptocurrency prices through its app.
As of November 2023, Robinhood supports trading for 7 major cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
- Bitcoin SV (BSV)
These 7 supported cryptocurrencies represent some of the largest and most actively traded coins on the market. Robinhood takes a selective approach and only offers trading for established, mainstream cryptocurrencies.
Robinhood does not currently allow users to deposit or withdraw cryptocurrencies on-chain. Users can only buy and sell crypto prices through the app. This makes it more restrictive compared to exchanges like Coinbase that enable direct custody and transfers of coins.
How Much Cryptocurrencies Are There?
Given the rapid pace of change, determining the exact number of cryptocurrencies at any point is impossible. Based on aggregated data sources, estimates suggest there are between 8,000 to 15,000 cryptocurrencies currently in existence.
However, the total number of cryptocurrencies only tells part of the story. A relatively small number of cryptocurrencies dominate most of the industry value:
- 65% of the $1 trillion+ crypto market belongs to just Bitcoin and Ethereum
- Over 90% of the value concentrates in the top 20 cryptocurrencies
Out of thousands of cryptocurrencies, only about 150 have a market capitalization over $100 million. The vast majority have insignificant valuations as most cryptocurrencies fail to gain traction.
While the sheer number of cryptocurrencies is impressive, investors should remember that opportunity and risk are mostly concentrated on the top tier of widely-used cryptocurrencies underpinned by strong fundamentals.
How Many Cryptocurrencies Are in Existence?
Determining the exact number of cryptocurrencies currently in existence is challenging, as new cryptocurrencies are created daily while old ones fizzle out. Based on aggregated data from market data sites, estimates suggest there are between 8,000 – 15,000 cryptocurrencies in existence today.
The approximate figures from different cryptocurrency data sites provide a snapshot of the scale and variety of cryptocurrencies available:
- CoinMarketCap: Around 10,000 cryptocurrencies
- CoinGecko: More than 13,000 cryptocurrencies
- Statista: Estimated range of 8,000 – 15,000 different cryptocurrencies
However, out of these thousands of cryptocurrencies, Bitcoin remains the most dominant, accounting for over 40% of the nearly $1 trillion total cryptocurrency market capitalization.
Well-known coins like Ethereum, Cardano, Binance Coin, XRP, and other top 10 cryptocurrencies also account for a significant portion of the overall market. Over 65% of the cryptocurrency market cap is confined to Bitcoin and Ethereum alone.
The number of cryptocurrencies has increased massively since Bitcoin’s creation in 2009. But most of these new cryptocurrencies have minuscule market caps and struggle to survive long-term. Despite the profusion of altcoins, Bitcoin remains the centerpiece of the cryptocurrency landscape 13 years on from its launch.
How Many Cryptocurrencies Are Available?
With over 10,000 cryptocurrencies listed on market data sites like CoinMarketCap, there is no shortage of different cryptocurrencies available today. Based on aggregated data sources, an estimated 8,000 to 15,000 cryptocurrencies are likely in circulation.
However, the number of viable and trustworthy cryptocurrencies is far lower. When sifting through thousands of cryptocurrencies, investors should be aware of the following:
- Market capitalization – Over 65% of the crypto market belongs to Bitcoin and Ethereum. Less than 150 coins have a market cap over $100 million. Most cryptocurrencies have insignificant market share.
- Development activity – Many cryptocurrencies are inactive or have low development activity. Focus on coins with steady code improvements.
- Utility – Coins/tokens should solve real-world problems and have clear utility. Many cryptocurrencies lack unique usefulness.
- Exchange availability – Availability on well-known exchanges implies more legitimacy. Obscure exchanges are riskier.
- Team – Credible leadership teams with blockchain expertise build confidence in a project. Anonymous founders are a red flag.
The number of viable cryptocurrencies with strong fundamentals and active adoption is likely well below 500. Investors should always thoroughly research any cryptocurrency investment before allocating capital.
How Many Different Cryptocurrencies Are There?
According to aggregated data from websites like CoinMarketCap, there appear to be between 8,000 to 15,000 different cryptocurrencies in circulation today.
However, determining the exact count is challenging for several reasons:
- New cryptocurrencies are constantly being created.
- Many cryptocurrencies with little activity become abandoned over time.
- Some crypto data sites have more comprehensive listings than others.
- It is hard to define what counts as a distinct cryptocurrency.
The number of cryptocurrencies has grown exponentially since Bitcoin’s creation in 2009. The success of Bitcoin inspired developers to create their own cryptocurrencies with modifications to functions or features.
Some of the main types of cryptocurrencies include:
- Coins like Bitcoin, Litecoin, Monero, etc. Each has its own blockchain.
- Tokens built on other blockchain networks like Ethereum, BSC, Cardano, etc.
- Stablecoins backed by reserves to minimize volatility.
- Meme coins like Dogecoin inspired by internet jokes and culture.
- Central bank digital currencies (CBDCs) developed by central banks.
There is also fragmentation within cryptocurrency protocols:
- Bitcoin has Bitcoin Cash, Bitcoin Gold, etc. as offshoot forks.
- Ethereum has numerous competing smart contract platforms like Solana, Avalanche, and Polkadot.
Overall, the innovation remains concentrated on a fairly small number of cryptocurrencies, even if thousands technically exist.
How Many Cryptocurrency Exchanges Are There?
As cryptocurrency investing and trading have exploded in popularity, so too has the number of cryptocurrency exchanges. These exchanges provide platforms where investors can purchase cryptocurrencies and trade between different digital assets.
According to CoinMarketCap, there are over 700 active cryptocurrency exchanges listed on their platform currently. Some major exchanges include:
- Binance: The leading crypto exchange by trading volume and users. Offers extensive trading pairs between cryptocurrencies.
- Coinbase: One of the largest regulated fiat-to-crypto exchanges based in the United States. Easier to use for beginners.
- Kraken: A long-running exchange that focuses on European markets but is expanding worldwide. Supports many cryptocurrencies.
- KuCoin: A popular exchange supporting an extensive list of small-cap altcoins. Based originally in Asia.
- FTX: Fast-growing crypto exchange launched in 2019 that now ranks in the top 5 exchanges. Known for derivatives trading.
- Crypto.com: Platform that includes an exchange, NFT marketplace, debit card, and more. Based in Singapore.
Exchanges geared for large-volume professional trading activity may have higher liquidity but can be complex for casual investors. Newer exchanges are still establishing trust and safety records, so caution is advised when selecting a platform.
How Many AI Cryptocurrencies Are There?
AI and cryptocurrency are two major emerging technologies. Inevitably, they have started to converge through AI cryptocurrencies leveraging artificial intelligence in novel ways.
According to market data, there are around 50 cryptocurrencies classified as utilizing artificial intelligence in some form. Here are some examples:
- SingularityNET (AGIX): Blockchain platform where AIs can share data and services through smart contracts. Uses the AGIX token.
- Fetch.AI (FET): “Economic Internet” linking IoT devices through AI agents and a decentralized market.
- Matrix AI Network (MAN): “Intelligent blockchain” using AI to optimize blockchain transactions and workflows.
- Effect.AI (EFX): Network for AI development powered by decentralized compute resources and the EFX token.
- DeepBrain Chain (DBC): Distributed computing network using AI and blockchain to optimize computing power utilization.
The applications for AI are still emerging in the cryptocurrency sector. Some potential uses include optimizing blockchain consensus mechanisms, algorithmic trading, data analytics, machine learning model monetization, and AI-guided coin/token creation.
Combining the pattern recognition capabilities of AI with the security and decentralization of blockchains could enable powerful new innovations. But AI cryptocurrencies remain highly speculative given the nascency of both fields.
How Many Dead Cryptocurrencies Are There?
Given the sheer number of cryptocurrencies created over the years, many projects inevitably lose momentum and become inactive. Identifying exactly how many “dead” cryptocurrencies there are is tricky, but data from CoinMarketCap sheds some light.
As of November 2023, CoinMarketCap listed:
- 251 cryptocurrencies as “inactive” (no trading in the past 7 days)
- Over 500 as “untracked” (missing metadata like market cap)
- Over 800 cryptocurrencies valued at less than $5,000
Additionally, over 1,000 cryptocurrencies were valued under $1 million in market capitalization. This suggests limited trading activity and usage.
Some reasons cryptocurrency projects can fail and die off include:
- The core development team dissolving after launch
- Critical vulnerabilities or hacks
- Structural issues such as hyperinflation
- Lack of interest and users
- Regulatory bans
- Competition from superior cryptocurrencies
Inactive or “dead” cryptocurrencies should not inspire investor confidence. Thorough due diligence is required before allocating capital Here is the continuation of the article:
How Many Cryptocurrencies Are There in Australia?
Australia has emerged as a major hub for cryptocurrency adoption and development. According to recent industry reports, there are over 300 cryptocurrency companies based in Australia currently.
Some of the most prominent Australian cryptocurrency projects include:
- Power Ledger: Blockchain-based platform for decentralized energy trading. POWR token.
- HiveEx.com: Leading Australian cryptocurrency exchange with 150+ coins listed.
- Amber: Payment app combining crypto with traditional rewards. Backed by major Australian retailers.
- Island: Regulated cryptocurrency exchange based in Australia.
- GovCoin: Proposed central bank digital currency (CBDC) for Australia. Still in research phase.
- AUX: Crypto project building smart cities and machine-driven commerce. Based in Sydney.
- Hodl Assets: Crypto and blockchain investment fund in Australia.
- Horizon State: Blockchain-based voting and decision-making platform.
Though not yet into the hundreds, there are over a dozen cryptocurrency exchanges regulated and licensed to serve Australian clients. The crypto industry in Australia has advocated for an accommodating regulatory environment.
With proactive legislation, cryptocurrency adoption could surge in Australia across payments, investments, and decentralized finance (DeFi) applications. Australia is primed to become a global leader in innovative blockchain companies and projects.
Conclusion
Determining the precise number of cryptocurrencies in existence today is nearly impossible. Market data sites provide estimates in the range of 8,000-15,000 cryptocurrencies currently available. However, these cryptocurrencies vary tremendously in levels of activity, maturity, legitimacy, and market share.
The vast majority of cryptocurrencies hold insignificant valuations and struggle to survive long-term. Innovation in the crypto space still concentrates heavily on dominant coins like Bitcoin and Ethereum, which account for over 60% of the total cryptocurrency market cap.
As cryptocurrencies continue proliferating, investors need to thoroughly research the utility, community, and long-term viability of any crypto investment. While the sheer variety is impressive, treating cryptocurrencies with caution remains prudent given the high risks, complexity, and lack of regulation. Overall, the number of cryptocurrencies tells only part of the story for this rapidly evolving industry.