Shillong, July 18: A recent report revealed that despite increased regulatory scrutiny on crypto firms, more than 1,000 new cryptocurrencies have been listed in the market in the past five months, bringing the total count to 9,708 in July.
Data presented by AltIndex.com showed that since February, a staggering 1,023 new cryptocurrencies have been listed on the market.
The growth of the crypto market has been remarkable over the years. Between 2013 and 2021, the total number of cryptos increased 75 times, going from slightly over 60 to surpassing 4,500, according to Statista and Investing.com data. Following the crypto boom in 2021, this figure more than doubled, with around 1,000 new cryptos being added per month. The peak was reached in February 2022, with nearly 10,400 cryptocurrencies available, but a decline followed.
As per IANS, the crypto winter resulted in a significant drop in the number of available coins and tokens on the market, with over 1,700 digital coins being delisted from crypto exchanges between February 2022 and February 2023, reducing the total number to 8,685.
Despite these ups and downs, the past five months have seen a notable increase in the number of cryptocurrencies, reflecting the resilience and interest in the crypto space even amid regulatory challenges.
In the second quarter of the year, global venture funding in the cryptocurrency space dropped further to $2.34 billion. This decline marked the fifth consecutive quarter of decreased funding, attributed to the strict regulatory environment surrounding various top-notch crypto exchanges.
