- Currently, there are about 24,000 cryptocurrencies in the market, more than double the amount that existed in 2021.
It only took less than a decade for cryptocurrency to explode onto the stage and grow at an astonishing rate. In 2013, there were only about 7 crypto projects available. Then, by the time 2014 came around, the amount grew to 67. Since then, the crypto market has kept on growing at an incredible speed.
Currently, there are about 24,000 cryptocurrencies in the market, more than double the amount that existed in 2021. It was towards the end of 2021 when the market saw an increase of about 1,000 cryptocurrencies every month.
The leading cryptocurrencies today are Bitcoin and Ethereum. As the world’s first cryptocurrency, Bitcoin was meant to be a decentralized, digital currency that got rid of the need to rely on banks or any other financial institutions. Meanwhile, it was Ethereum that brought forth the idea of open-source, programmable blockchains that would execute “smart contracts”. It is these two kinds of cryptocurrencies that most others conform. Assets that fall into the former description are typically referred to as coins, while the latter are typically referred to as tokens.
