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How Many Cryptocurrencies Exist In 2022?

How Many Cryptocurrencies Exist In 2022?

The concept of an untraceable, decentralized digital currency known as cryptocurrency Bitcoin had long been discussed, but it wasn't until 2009 that the first Bitcoin was produced. After Litecoin and Peercoin were introduced, the cryptocurrency began to gain traction in the following years.

There were more than 50 different cryptocurrencies at the end of 2013. By the end of 2014, this number had risen to nearly 500, an increase of over tenfold.

There are currently more than 18,000 cryptocurrencies in use. However, how did the financial environment arrive at this moment in time? What's the next step?

These stats will give you a good idea of where the crypto market is at the moment.

In the year 2022, how many cryptocurrencies exist?

Currently, 18,465 cryptocurrencies are in existence.

Although certain cryptocurrencies are active and lucrative, not all of them are. A total of 10,363 live cryptocurrencies remain after several "dead" cryptos are discounted.

Cryptocurrency users number in the hundreds of millions worldwide. 18,000 establishments already accept cryptocurrency as a means of payment.

Constant Increase in the Value of Cryptocurrency

More and more people are becoming aware of and using cryptocurrencies, which have erupted onto the market in the last few years. Here, we'll look at how decentralized finance has evolved in different periods of time in order to illustrate some of that rapid progress.

2013

Coin Market Cap listed just seven cryptocurrencies in April 2013. The market valuation of Bitcoin was roughly 20 times greater than that of any other cryptocurrency.

2014

There were 513 cryptocurrencies in existence in November 2014, a year and a half later.

With a market capitalization of $5.13 billion, Bitcoin is still the leader. Even though Litecoin ($122.63 million) and Peercoin ($16.26 million) were two cryptocurrencies in the top 10 by market capitalization.

Dogecoin ($23.30 million) and XRP ($346.22 million) have replaced the initial seven cryptocurrencies. XRP’s cryptocurrency designed to make cross-border transfers of fiat currency more efficient.

At this point, the price of Bitcoin had more than doubled, reaching $378.05.9. In addition, roughly 76,000 businesses around the world now accept Bitcoin as payment.

2015

Even a year later, little had changed in the bitcoin scene. As of the end of November of this year, there were 564 different cryptocurrencies.

Almost the course of November 2014, Bitcoin's market capitalization climbed to over $5.5 billion, while XRP's market capitalization decreased to roughly $144.18 million.

As a whole, seven of the most valuable digital currencies in November of 2014 remained in the top 10 in the market a year later. These were the following:

Bitcoin - Almost $406 million market cap increase

Litecoin - Almost $37 million market cap increase

XRP - Almost $202 million market cap decrease

Bitshares - Almost $39 million market cap decrease

Dogecoin - Approximately $10 million market cap decrease

Peercoin - Approximately $6 million market cap decrease

Dash - Approximately $1 million market cap increase

Ethereum, with a market capitalization of $65.98 million, was the most prominent newcomer to the top ten cryptocurrency list.

2016

663 cryptocurrencies existed at the end of 2016.

With a three-year high of almost $900, the price of Bitcoin has risen nearly three times since November of 2015.

The year's best-performing cryptocurrencies in terms of market capitalization growth were:

Bitcoin ($14.59 billion) has seen its market capitalization expand by about 2.5 times.

Ethereum ($638 million) has seen its market capitalization grow eight times since the beginning of the year.

There has been a 1.1x growth in the market valuation of Ripple ($232 million).

Litecoin’s Market cap increase of approximately 1.5x.

Its market value has increased by nearly 28 times since Monero ($134 million) inception in 2013.

Ethereum Classic (91 million) - 2x rise in market capitalization.

Market capitalization of Dash ($71 million) - 4.5x rise.

2017

A total of 789 cryptocurrencies were now being exchanged by mid-2017 (April 30th, to be precise).

Over the course of four months, Ethereum's market capitalization has increased by more than 1,000 percent to more than $7.2 billion. XRP's value soared from $232 million to $1.96 billion, a similar increase in price.

There were (and still are) a number of obstacles to widespread adoption of bitcoin, despite its steady expansion.

2018

Cryptocurrencies have more than doubled in one year, making it the most popular form of digital currency. Due to the widespread adoption of digital coins and the growing popularity of blockchain technology, the cryptocurrency market has seen steady expansion.

There were 2,073 cryptocurrencies in circulation at the end of last year. Over $1 billion was invested in 12 of them.

2019

There were around 3,000 cryptocurrencies in circulation in November of 2019.

Some publications, on the other hand, put the number at as high as 6,000. Because of different evaluation processes for a variety of factors, there is a disparity in the results.

There are some entries that include test cryptos and funny cryptos, both of which are shortly abandoned. Market capitalization and trading volume are frequently used to determine the genuine number of cryptocurrency users in order to fight this.

Bitcoin's market value crossed $100 billion for the first time in 2019, closing the year at $134.57 billion. Nine cryptocurrencies have a market capitalization of more than $1 billion, except this.

2020

There was minimal impact from the pandemic on the rise of cryptocurrencies. A total of 5,392 cryptocurrencies were reportedly traded at the end of April.

CoinMarketCap estimates the combined market capitalization of the top ten cryptocurrencies at about $200 billion. Over $140 billion of this value was attributed to Bitcoin.

The total number of cryptocurrencies having a market capitalization of more than $1 billion reached 28 by the end of 2020, following a minor decline in 2019.

2021

Bitcoin network transaction fees have ranged from $1.78 to $62 average per day this year, according to Bitinfocharts.com.

2022

It's been a long time coming, but there are now 18,465 different types of cryptocurrency today. The problem is that a large number of these are either inactive or worthless.

There is a good chance that figure is already an understatement as additional ICOs are launched every week.

Awareness of Cryptocurrency

Additionally, the findings of the 2021 Gemini research shed insight on cryptocurrency knowledge and awareness. 39 percent of those who don't possess cryptocurrency said they were either "very or very knowledgeable" about cryptocurrency.

Various cryptocurrencies have revealed some fascinating facts.

Even among crypto enthusiasts, just one out of every twenty people has never heard of Bitcoin.

Some 38% of those surveyed are familiar with Ethereum.

Only 24% of people are aware of Bitcoin Cash.

Litecoin is known to 16 percent of the participants.

Tether is known by about one in ten people (11 percent).

Cardano and Polkadot are unfamiliar to only 2 percent of those polled.

Top 20 Cryptocurrencies with the highest market capitalization

Over the past decade, a number of cryptocurrencies have gained household names. The most notable of these is unquestionably Bitcoin, which comfortably leads the pack in terms of market capitalization.

What Are the Most Traded Cryptocurrencies?

There is a wide range of cryptocurrencies available today. Anyone who has a basic understanding of blockchain technology can create their own coin with no difficulty. More than 1600 cryptocurrencies are presently traded on major, middle-sized, and specialized crypto exchanges.

It's reasonable to conclude that only a few of those cryptocurrencies and digital tokens are truly significant. To narrow the field even further, consider only those cryptocurrencies that are actively traded and/or used to pay for the usage of a blockchain platform with utility tokens on a regular basis. There are roughly 20-30 different digital currencies that fall under this category.

Bitcoin and Ethereum have been the two most popular cryptocurrencies since they first emerged as part of the cryptocurrency boom (Ether).

There are a number of other prominent cryptocurrencies, but their value and popularity tend to fluctuate with the market. You could pay attention to the 24 Hour Volume Rankings.

The Crypto 10 Index, which is a custom-built list of the ten most popular cryptocurrencies at any given time, can also be bought and sold on the open market.

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