Bear Market? CoinMarketCap Hits Milestone with 2,000 Active Cryptocurrencies Listed

The great cryptocurrency bear market of 2018 may have put a damper on speculative investor interest in this nascent asset class, but it does not seem to have led to much of a slowdown in the number of new altcoins being released on the market.

CMC Reaches 2,000 Listed Cryptocurrencies
To wit, cryptocurrency resource site CoinMarketCap hit a new milestone on Friday, as its market cap rankings now include data on more than 2,000 active coins and tokens, an increase of more than 600 since the beginning of 2018.

A significant percentage of this increase stems from the increasing popularity of tokens, cryptocurrencies which run on another coin’s blockchain and are secured by its network. Even projects which eventually launch their own blockchains now often start as initial coin offering (ICO) tokens on Ethereum, Stellar, or another network.

At the time this article was written, CoinMarketCap had 2,008 cryptocurrencies listed on its market cap index. The site does not provide data on how many cryptocurrencies it delists, but, according to its website, indexed projects must be listed on a public cryptocurrency exchange with a functional API and have non-zero trading volume.