How Many Cryptocurrencies Are There? (2023 Update)
Have you ever wondered how many cryptocurrencies are there? It seems as if a new one comes out every day. Cryptocurrencies have taken the world by storm since they provide unique advantages over fiat currencies – most notably decentralization.
In the following article, you will find a list of cryptocurrency stats that provide insight into the topic.
How Many Cryptocurrencies Are There?
There are 18,000 cryptocurrencies as of March 2022. This is a staggering increase from just a handful of coins back in 2013. Many of these cryptocurrencies do not have a following or much value. Whereas others can become insanely popular overnight with the right backing. Some of the most important digital coins include Bitcoin, Ethereum, and XRP.
Stats About Different Cryptocurrencies
The premise of anonymous cryptographic electronic money has been around long before the creation of Bitcoin. Now let’s take a look at the stats that describe the landscape of cryptocurrencies. This will help you get an idea of how far the industry has come in just under a decade.
The market cap of all cryptocurrencies is $1.2 trillion.
As of the end of May 2022, the crypto market was worth $1.2 trillion – a massive decrease from the peak at $2.9 trillion in Q4 of 2021. Massive fluctuations are not uncommon in the cryptocurrency market. Therefore, it is not hard to imagine that the value will return by the end of the year.
Bitcoin has a 45.86% market share of the cryptocurrency industry.
The massive share of Bitcoin compared to other coins will not surprise anyone since it is the top digital currency. Ethereum is in second place with 18.04% and Tether holds the third spot with 5.75%. The top spots for cryptocurrencies can change if a new coin gains traction as the standard for making online payments.
There are over 34,000 crypto ATMs worldwide.
Crypto ATMs allow users to deposit fiat currency in exchange for crypto, or deposit crypto and receive fiat currencies. The majority of them are located in the United States. However, their number can increase worldwide as the adoption rate of crypto increases in the future.
(Coin ATM Radar)
The crypto peak trading day was on May 19th, 2021 with $500 billion traded.
With over half a trillion dollars worth of crypto traded in a single day, crypto trading reached its peak. In May of 2021, there was a lot of activity around Dogecoin, which was popularized by Elon Musk. You can expect this trading peak to be broken as many types of cryptocurrencies continue to grow.
There are 68 million crypto wallet holders as of February of 2021.
Crypto wallets are an essential tool for safely holding cryptocurrencies. Think of them as a bank account for crypto that is only accessible to the holder. The number of blockchain crypto wallet holders is increasing every year, so you can expect even more users in the coming period.
The Cryptocurrencies Industry Is Ever-Evolving
The large loss of market valuation since the end of 2021 highlights the volatility of blockchain currencies. Fans of the currency format say that it is just a dip in the market and it will recover. Keep an eye on the cryptocurrency stats for yourself to see how the industry unfolds in the coming years.