More than 540,000 tokens have already been launched in 2024

As per the latest figures from the CoinGecko platform, the total number of tokens now exceeds 2.52 million, including memecoins and inactive projects.

More than 540,000 tokens have already been launched in 2024

This figure marks a significant leap from the end of 2021, when the count stood at a mere 0.44 million, indicating nearly a sixfold increase.

The surge in token creation gained momentum around September 2022, with the number surpassing the one million mark for the first time, closing the year at 1.15 million tokens. Throughout 2022, 720,000 new tokens appeared, representing an annual growth rate of 159.2%.

The trend persisted into 2023, with the number of crypto assets rising by 72.3% to reach 1.98 million. During that year, 830,000 tokens were created.

However, the most astonishing growth was witnessed in 2024. By April 11th of this year, the count had already soared to 0.54 million tokens, translating to an average daily creation of 5,300 crypto assets. Experts point out that this surpasses the total number of coins created in the entire year of 2022, which stood at 0.71 million.

In May 2023, experts observed the emergence of 104,118 tokens during the initial memecoin season. This March, a resurgence in this trend indicated a new monthly record, with 195,735 tokens created.

Looking ahead, experts foresee a probable surge in the creation of new crypto assets, thanks to the introduction of platforms simplifying token creation and reducing online trading costs. However, experts emphasise that it is unknown whether the growth of the crypto market will be exponential in the future, particularly with the crypto industry’s growing inclination towards tokenizing real world assets (RWA) on a large scale.

Earlier, a report from Crypto.com revealed a 34% increase in the number of cryptocurrency owners in 2023.

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