Cryptocurrencies on CoinMarketCap Near 11 Million
10 Feb, 2025 ● Crypto News
The total count of unique cryptocurrency tokens and coins listed on CoinMarketCap is approaching 11 million, with over 10.99 million digital assets currently tracked.
This rapid growth in new tokens throughout 2024 and early 2025 has been largely fueled by the rise of memecoins launched on the Solana network.
Some market observers believe that memecoins have diverted attention from tech-focused altcoins, diminishing the speculative premium these projects previously enjoyed.
The influx of new tokens has sparked concerns among traders and industry experts about the negative effects of an oversaturated market, with millions of coins competing for limited investor attention.
Market analyst Ali Martinez recently suggested that the overwhelming number of tokens vying for capital and investor focus could hinder the arrival of an altcoin season, which refers to a prolonged period of strong performance for altcoins.
Martinez estimates that there are currently over 36 million altcoins in existence, a sharp increase from fewer than 3,000 during the 2018 cycle and under 500 altcoins in the 2013–2014 period.
“With such massive supply, the market has changed significantly,” the analyst wrote on social media.
The surge in new tokens has led Coinbase CEO Brian Armstrong to reconsider the exchange’s approach to listing assets.
“We need to rethink our listing process at Coinbase given there are 1 million tokens a week being created now and growing,” Armstrong stated on January 25.
“Evaluating each one by one is no longer feasible,” he added, calling on financial regulators to allow exchanges to adopt faster, more streamlined token listing procedures.
Dan Novaes, co-founder of EARN’M—a loyalty platform that rewards users for screen time—recently told Cointelegraph that 2025 will mark a period of consolidation within the crypto industry.
Novaes believes that the current issue of over-tokenization will lead to project mergers and token consolidation, as development teams combine efforts to promote sustainable growth.
He also noted that consolidation signals a maturing crypto sector, drawing a parallel to the wave of mergers and streamlining that occurred in the mobile app industry following the rapid expansion of applications between 2008 and 2010.
Sources:
https://cointelegraph.com/news/total-cryptos-near-11-million-market-oversaturated
https://x.com/MustStopMurad/status/1839732601759641960
