CoinGecko’s crypto data collection shows that more than half-a-million altcoins had been produced between January this year and the beginning of April.
CoinGecko analyzed the total number of cryptocurrency from December 31, 2021, to April 11, 2024, using data from GeckoTerminal (a decentralized exchange tracker).
The results shows 2,52 million crypto assets have been created to date. These include memecoins, dead projects and transient tokens. This is also more than 5.7-times the number of assets that were available at the beginning of 2021.
In the period from January 1 to April 11, this year, 540,000 new tokens have been issued. That’s an average of 5,300 daily new tokens in 2024. In contrast, in 2022 there were 720,000 and 830,000 new tokens.
“Given that this is already more than half of the 0.83 million new tokens launched last year, 2024 is on track to surpass 2023 in the number of new tokens on-chain.”
CoinGecko claims that memecoin season returned late in this year’s February, resulting in 195,735 brand new tokens being launched in 2024.
This highlights the frenzy surrounding memecoins as participants take advantage of an opportunity to launch derivatives based on memecoins and themes already in use.
The number of new tokens in January and February 2020 was also high, with respectively 134,647, and 195 735. It is possible that this indicates that there are more on-chain speculations, regardless of the broader adoptions of memecoins.”
CoinGecko believes that future memecoin season may be characterized by a higher spike of new crypto assets due to the ease of creating tokens and the lower cost of trading on the blockchain.
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