How Many Cryptocurrencies Are There

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How Many Cryptocurrencies Are There – The idea of ​​anonymous cryptographic electronic money has been proposed for a long time, but it was only in 2009 that the decentralized cryptocurrency Bitcoin was first created. Namecoin, Litecoin and Peercoin followed in recent years and the cryptocurrency began to gain momentum.

At the end of 2013, there were more than 50 different cryptocurrencies. And by the end of 2014, this number had increased approximately 10 times to more than 500.

How Many Cryptocurrencies Are There

However, not all cryptocurrencies are active or valuable. Subtracting the many “dead” cryptos leaves only about 9,314 active cryptocurrencies.

Most Popular Types Of Cryptocurrency

There are more than 300 million cryptocurrency users worldwide. And nearly 18,000 businesses now accept some form of crypto as payment.

In less than a decade, cryptocurrency has exploded onto the scene and grown at an ever-increasing rate. The following section highlights some of its key developments with snapshots of the decentralized financial landscape at different times.

Before we get into that, here’s a quick look at the total number of legitimate cryptocurrencies listed on CoinMarketCap from 2013 to date:

As of April 2013, there were only seven cryptocurrencies reported by Coin Market Cap. Bitcoin is ahead in terms of market capitalization with almost 20x the value of other cryptocurrencies.

Reasons Cryptocurrency Is The Future Of Finance

Bitcoin is now the dominant force with a market cap of around $5.13 billion. Only Litecoin ($122.63 million market cap) and Peercoin ($16.26 million market cap) are among the top ten cryptocurrencies by market cap.

The rest of the original seven led the likes of XRP ($346.22 million market cap) and Dogecoin ($23.30 million market cap).

At this stage, the price of Bitcoin doubled to $378.05. And about 76,000 merchants worldwide accept Bitcoin.

A year later, the cryptocurrency landscape hasn’t changed much. However, at the end of November 2015, there were 564 cryptocurrencies.

Trading Cryptocurrency: Exchange Basics

Bitcoin’s market cap rose to over $5.5 billion, while the market cap of XRP, the second largest cryptocurrency, fell to around $144.18 million in November 2014.

In total, the seven largest cryptos in November 2014 by market cap were in the top 10 last year. This is:

As of mid-2017 (April 30 to be exact) an additional 126 cryptocurrencies were currently being traded, bringing the total number to 789.

Ethereum’s market cap increased by more than 1000% in just four months to $7.2 billion. Similarly, XRP also saw a significant increase from around $232 million to $1.96 billion.

Chart: 2021: Year Of The Cryptocurrency

A year ago, the number of cryptocurrencies more than doubled. The success of blockchain technology and various uses of coins are leading to further market growth.

At the end of 2018, there were 2,073 cryptocurrencies. And 12 of them have a market cap of more than $1 billion.

However, some sources report numbers closer to 6,000. This difference was (and is) the result of different evaluation processes for different criteria.

For example, test cryptos and joke cryptos are often easily removed but may appear on some lists. To combat this, trading volume and market cap are often used as determining factors when calculating the actual number of active cryptocurrencies.

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In 2019, Bitcoin’s market cap exceeded $100 billion, reaching $134.57 billion. However, the number of cryptocurrencies with a market cap of more than $1 billion dropped to nine.

The pandemic has done little to stop the rise of cryptocurrencies entering the market. In April, 5,392 cryptos were reported traded.

According to CoinMarketCap, the combined market cap of the top 10 cryptocurrencies is around $200 billion. And Bitcoin is responsible for more than $140 billion of this amount.

The total number of cryptocurrencies with a market cap of more than $1 billion will reach 28 by the end of 2020, down slightly from nine in 2019.

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Flash forward to today, there are now 21,844 cryptocurrencies in circulation. However, most of them are inactive or completely useless.

By the time you read this, that number will likely be lower, as there are likely multiple ICOs happening every week.

The evolution of cryptocurrency has come a long way in a relatively short time. To illustrate that, here is a comparison of the top seven cryptocurrencies in 2013 compared to today:

The 2021 Gemini report also sheds light on cryptocurrency knowledge and awareness. Overall, 39% of people who don’t own crypto describe themselves as “somewhat or very” knowledgeable about crypto.

Crypto Coin Vs. Token: Understanding The Difference

Many cryptocurrencies have become household names over the past decade. The most important of these is, without a doubt, Bitcoin, which comfortably leads in terms of market cap.

Cryptocurrency has exploded into the general consciousness. And despite a fair amount of volatility, the entire market is moving in one direction (up), with Bitcoin still leading the charge.

While you’re here, sign up for our weekly newsletter. Every Tuesday, we deliver our best stories straight to your inbox. Cryptocurrencies are not just cool and safe iterations of virtual currency but represent new financial revolutions. However, Bitcoin is the only word that comes up in discussions around cryptocurrencies. On the other hand, you can find many different cryptocurrencies in the form of coins and tokens. Therefore, interest in cryptocurrency types has gained a lot of momentum in recent times.

Many are reluctant to settle for the various altcoins built alongside the foundations of Bitcoin. Instead of just looking for altcoins, you should look for different cryptocurrency solutions in different fields such as stablecoins, decentralized finance, and other variations. The following post will help you find an outline of the different types of cryptocurrencies with popular examples of each category.

How Many Cryptocurrencies Are There In The World In 2022?

Discussions about crypto types like Bitcoin and Ethereum indicate a great track record of increasing value over time. On the other hand, the market has been hit by the recent downturns which call for the trust and credibility of cryptocurrencies. You have popular options as well as those with limited popularity, although there are low expectations and better expectations.

Now, it is important to think about specific criteria for classifying crypto types into certain categories. The benefit of cryptocurrencies serves as a direct answer to your question. Different cryptocurrencies have unique uses with many founders having different visions for the future of cryptocurrency. Based on an overview of the crypto market, you can find the following popular cryptocurrency categories in the market today.

When you think of the discussion of cryptocurrency types, you probably think of Bitcoin. You have other popular altcoins inspired by Bitcoin that are carving out their own place in the crypto ecosystem. In 2009, Bitcoin started the crypto revolution and today, you have thousands of cryptocurrencies with different denominations. Furthermore, the unclear opinion about the potential of smaller cryptocurrencies often favors the most popular options. Here is an overview of some of the most popular types of crypto you can find today.

Any discussion of cryptocurrencies includes at least one mention of the original cryptocurrency, Bitcoin. It is the most popular cryptocurrency in the world and has the highest value. However, Bitcoin has experienced very uncertain bursts of volatility many times in its history. It was developed as a peer-to-peer money transfer system and served as the inspiration for an entirely new virtual currency ecosystem.

Cryptocurrency Market Cap Tops $2 Trillion For The First Time

The second option for a top cryptocurrency list is clearly focused on Ether or ETH, the native cryptocurrency of the Ethereum network. ETH is one of the most valuable crypto assets because Ethereum serves as an open source blockchain for developers to build decentralized applications and other cryptocurrencies. More importantly, it is the second largest cryptocurrency in terms of market capitalization. The value of Ether has grown exponentially with the widespread deployment of decentralized applications in the Ethereum ecosystem.

The official cryptocurrency of the Ripple blockchain, a digital payment network, XRP is also one of the popular types of cryptocurrency on this list. It is designed for digital payments and provides a faster and more efficient way of expediting global payments. Additionally, Ripple and XRP serve as third-party development use cases for other XRP applications.

The next foray into popular crypto types also brings options like Cardano into the equation. The Cardano blockchain uses the ADA cryptocurrency and the unique highlight of the cryptocurrency is the consensus protocol. The peer-reviewed Ouroboros blockchain protocol serves as an efficient way to achieve decentralization while maintaining enhanced security and scalability.

The discussion of different types of cryptocurrencies also draws attention to the USD coin. It is said to be the first digital dollar actually backed by the US dollar. The USD coin ensures better stability compared to other cryptocurrencies, thus providing better scope for digital payment use cases. Therefore, USD Coin is the perfect choice to receive cryptocurrencies without worrying about losing value.

Chart Of The Day: How Many Consumers Own Cryptocurrency?

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Chainlink Blockchain also qualifies as another top with its LINK cryptocurrency

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