When I first discovered cryptocurrency back in 2013, I remember there being under 50 markets or so. Most of the original crypto's from back in the day I could not name now because markets like Phoenix coin were insignificant, even back then. Coins like Doge, LTC and even XRP are just a few examples of crypto that have so far, stood the test of time!
It occurred to me today after opening CoinMarketCap the way I do most mornings when I start my day to see what has been going on since I last checked in, that the total amount of crypto in the world is now at 1600 with a whopping 10 007 markets being trade across various platforms.
One can only imagine the kind of currencies that are lying in the wing, being developed in the shadow's hoping to gain a couple ounces of market approval and exposure. There is an extremely long list of cryptocurrencies that are waiting for the same kind of attention, out on the street now hustling for any market share today when considering the kind of cryptocurrencies that actual already have blockchain's, all 1600 crypto's are looking for the same love!
As cryptocurrency tokenization is poised to flood the market with more crypto by default causing market saturation, I have already started trying to guess what the threshold is going to be for cryptocurrencies presented as "next generation" opportunities to change the world, when all I am seeing is a lot of copy and pasting of code with a few slight alterations. In other words, when will people stop trying to pass off product as something better then more of the same stuff presented in a slightly different way. As the tokenization of everything becomes a reality it is difficult to imagine how anything else other than cryptocurrency with maximum utility, function and convenience could possibly thrive or compete in an atmosphere where everybody and everything is going to have a blockchain very shortly.
It is only a matter of time before we see a series of vanity coins popping out of the woodwork. I really wonder how long is it going to be before celebrities decide to start cashing in with their names on the blockchain so that their brand can climb to another dimension of marketing and exposure? Only time will tell if the trend becomes necessary or even profitable, one thing is certain we are all going to find out at some point.
If your head is not already spinning from the constant cryptocurrencies that are crawling out from under rock's on a weekly basis, let's keep in mind that the 2000th cryptocurrency is not very far off! Although I do think there is room in the industry for innovation technologically speaking in the cryptocurrency realm, I really hope as new cryptocurrencies emerge from the static that developers working on new projects can bringing the code and they're A game to actually improve the cryptocurrency industry on any level.
I appreciate your taking a few seconds to check out this article and leave some feedback.
What kind of cryptocurrency function or innovation would you like to see in the future?
What kind of cryptocurrency do you feel Traders could do without and what cryptomarkets do you feel crypto can't live without?
i think the more players the more exciting it is when it comes to a competition to speed up the innovation and to make our world a better place to live faster.
Really its a good information about cryptocurrency. Thanks for sharing such a valuable information.
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But sadly the market cap keeps dwindling!
True, I feel as soon as BTC goes on a new little run everything will look normal again ;D
One has to imagine...
No imagining, although expect multiple bounces befroe the trend continues. Bitcoin is still bullish trend and crypto is still bullish trend. It needs to go sideways and work off this exponential move but the next one is just around the corner
The basis of the negative news background was the prohibition of advertising of any cryptocurrencies and ICO on Google, Snapchat and Twitter. Earlier, a similar decision was made by Facebook. Together, these players make up more than 90% of the Internet advertising market in Western countries, so their decision to suspend the promotion of cryptocurrencies is objectively extremely negative for the market. But it is worth to note that cryptocurrency and the ICO have been in the same list with binary options and other questionable and sometimes downright fraudulent financial products. And if in respect of some ICO such a ban is more than justified, the ban on advertising of the same bitcoin looks a little strange and speaks more about the reluctance to understand in each case. As the largest cryptocurrency and ad are now getting sufficient coverage in the mainstream media, the prohibition of Internet advertising first of all hit the market with new offerings and cryptocurrency of the second echelon. We are witnessing a decline not only in market capitalization, but also in the activity of users of major crypto-assets.
The ban of ICO ads in the digital space will make investors more savvy, which they are today, and distinguish good projects from bad.
LMFAO at ur photo ;D
A big percentage still in coinmarketcap should be in http://deadcoins.com/ we have to realise that lots are trading below a $1,000 daily volume which is nothing to consider as a real coin. I'm hoping that this bleed in price serves as a purge for those hundreds of coins that haven't brought any real utility to the world.
I actually meant to bring up 85 % all coins are inactive to some degree, very good point, thank you for you're comment!
This just goes to show that the world of cryptocurrency which was once regarded a nonsense and a too-good-to-be-true concept by many is becoming our new wonderful reality. Of course some coins are meant to fade away, some are meant to stay and increase in value. So we should choose coins wisely and learn about them to make sure they are in the latter side.
Actually, Blockchain has an incredible potantial for us to utilize from it. For this term, in my opinion people seek to profit from coins. Less emphasis on technology's itself. For effective use of this technological development, we should first keep ourselves from useless coins which are duplications of each other without any development. Also, I believe in that smart contracts and daily usabilies are the pioneers of the application of the technology in daily lives.
A proper exchange that won’t be shut down or lose the coins they are keeping, better yet an exchange that lets you trade without holding your assets. Decentralized exchanges are the future.
The good old days! How far we have come as a crypto community is really fascinating.
I feel that with more crytocurrencies coming on board investors will have fears buying coins with higher value and with time the coin market will stablize only if banks will allow it be.
Nice that you already have four years of trading under your belt in a world where there are so many new-traders and learners in the land of Crypto. I think that we are going to see significant growth in the volume and value of so many of these cryptocurrencies/cryptoassets in the near future. Blockchain technology will certainly be utilized in a variety of places that are in our daily lives, and the use of paper money and individual countries' currencies will be less and less relevant. Thanks for your post and perspective. -Respect
That is so many cryptos. But eventually all the redundant ones will go and we will just be left with the best ones. There is no way 1000 cryptos will exist.
Se cree que esta baja se debe a que salen al mercado nuevas monedas respaldadas, son las criptoactivos; caso reciente de Venezuela con las Petro, petro-oro y proximamente la petro-diamante.. Rusia y China van hacia lo mismo..
the more coins the mroe the wealth is spread, seems like we have in some case's lots of coins doing exactly the same thing
there are 20.000 tokens on the Ethereum blockchain alone. Of course many of them are just test tokens & are not traded. But it's so easy to create a token, that's what we have. And as you said there are many copy paste solutions and literally the same names also appear. That's why we've built a tool to browse through the tokens (www.trivial.co) to enable people to decide for themselves which are legit and which should be avoided.
Crypto is growing VERY Rapidly
Great post !! however I found another great post about new cryptocurrency trade https://steemit.com/cryptocurrency/@alrashel/ripple-xrp-new-sensational-cryptocurrency
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There are more and more altcoins appearing, time will tell if this is a good thing or a bad one. I think the market will correct itself as I feel quite a large amount of them are poor altcoins.
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I think that a lot of the coins will be gone in a few years time.
money hungry investor taking shine of the importance of cryptocurrency'
Yes, and the numbers keep growing everyday!
crypto community is really fascinating.
Soon there won't this many cryptos. I hope Vechain is going to be here for long time tho :D. But I might be wrong
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An interesting article. Thank you!
thanks for this. was a little busy at the time to read this article.