During the initial part of this year, Coin Market Cap, which is a renowned aggregator of data, ended up adding close to three thousand crypto-based assets in its vast database. This bought the overall amount of listed coins a little over ten thousand. For those who are wondering, this number was determined by the data received from reputable resources.
Looking back to 2018, which was arguably the ICO’s peak, Coin Market Cap mentioned its two thousand assets by listing it on the website. However, things were quite different this year in the sense that there was a massive crypto-asset explosion. This happens mostly because of the various head tailwinds occurring millions upon millions of years ago.
Similar to Coin Market Cap, a large number of data aggregators even added over two thousand assets into its databases during this year. Coin Gecko, which has its headquarters based in Singapore ended up listing more than three thousand fresh assets. These assets were uploaded to the website. Meanwhile, Coinparprike, which is another crypto research and data platform, listed over two thousand assets on its very own website.
Representatives coming from various organizations like Coinpaprika, CoinGecko, and CoinMarketcap are of the agreement that the recent surge of cryptocurrency assets has been driven because of multiple factors. Experts believe it to be a combination of things like celebrities, influencers, loads and loads of financial institutions, and bullish prices that are responsible for the crypto surge.
The popularity of meme-based coins also seems to be a big reason behind the popularity of cryptocurrency surges in recent years. That being said, it would be best if people did not get their hopes too up as the landscape of crypto has experienced numerous surges over the past decade. Soon after the boom of ICO took place during 2017, a variety of fresh crypto-based assets entered the market in a very similar way.
That being said, over three-quarters or even more of these initial coin offerings proved to be nothing but scams. What’s more, half of these initial coin offerings even ended up failing for raising these funds. If history happens to be any kind of indicator, only a select few cryptocurrencies will end up surviving out of the thousands that are out there.
Needless to say, the numbers don’t lie. There is a sufficient amount of evidence to suggest that the cryptocurrencies that do end up surviving, make it big in this vast landscape.