The crypto sector currently has over 20,000 different types of digital tokens. Among these, however, only less than 9,000 represent active coins.
This number represents a massive leap from just a decade ago: in 2013, the number barely touched 10.
This article will answer “How many cryptocurrencies are there?” and look further into this developing market.
Top 5 Facts on Cryptocurrencies
Here are the five most important facts you should know about the crypto market:
- There are over 22,000 different cryptocurrencies available in the market. (Statista)
- Among these, only 9,124 cryptocurrencies appear to correspond to active addresses on the blockchain system, while the remaining are so-called “dead” coins with no on-chain activity. (Statista)
- The total market capitalization for the cryptocurrency sector surpassed the $1 trillion mark twice, first in 2021 and then in 2023. (CoinGecko)
- Bitcoin continues to reign supreme with almost half of the overall market capitalization. (Coinweb Price Data)
- The memecoin sector has a current market capitalization equal to $13.73 billion. (CoinCodex)
The Evolution of Cryptocurrencies
As we delve into the data, it becomes evident that the expansion of the crypto market is not linear but characterized by massive, intermittent growth spurts. Thousands of cryptocurrencies have emerged from Bitcoin’s creation to Pepe’s launch.
In 2023, the number of active cryptocurrencies reached an all-time high, totaling 9,124, but the growth path to this number was far from linear.
The crypto history began in 2009, with the launch of the first cryptocurrency, Bitcoin.
Moving forward, in 2010, the market saw the creation of the second active cryptocurrency, Namecoin. The following year, Litecoin was created, adding another digital token to the market.
The number of cryptocurrencies slowly increased, reaching 636 tokens in 2017.
Only in the bull market of 2017 and 2018 did we record a massive boom in the creation of new cryptocurrencies, with 1,359 and 2,086 active tokens, respectively.
2020 saw a slight decrease compared to the previous years but still saw over 2,000 digital coins on the market.
In fact, in just one year, from early 2020 to early 2021, the number of active cryptocurrencies almost doubled from 2,403 to 4,154.
And finally, in 2022, the market welcomed a staggering number of new digital tokens, reaching a total of 8,714 active coins.
Table 1: Number of Active Cryptocurrencies per Year (Consensys, Statista)
| Year | Number of active tokens | Rate of growth |
| 2010 | 2 | +100.0% |
| 2011 | 3 | +50.0% |
| 2012 | 5 | +66.7% |
| 2013 | 7 | +40.0% |
| 2014 | 67 | +857.1% |
| 2015 | 501 | +647.8% |
| 2016 | 572 | +14.2% |
| 2017 | 636 | +11.2% |
| 2018 | 1,359 | 113.7% |
| 2019 | 2,086 | +53.5% |
| 2020 | 2,403 | +15.2% |
| 2021 | 4,154 | +72.9% |
| 2022 | 8,714 | +109.8% |
| 2023 | 9,124 | +4.7% |
Overview of Cryptocurrencies by Type
Cryptocurrency categories include DeFi, meme coins, GameFi, stablecoins, privacy coins, and Central Bank Digital Currencies (CBDCs), among others. These niches have different purposes and varying degrees of market dominance.
As of October 2023, the DeFi sector counts 611 tokens. The sector hit an all-time-high market cap of $175 billion in 2021, only to decline and fluctuate around $50 billion throughout 2023.
The meme coin niche rapidly expanding, with 1,276 tokens in circulation and a market cap of $13.6 billion.
Another emerging category is GameFi, with 483 tokens and a market cap of $7.4 billion.
Stablecoins have seen a significant increase in popularity, with 150 tokens and a market cap of $124 billion.
Privacy coins, designed to provide anonymity to their users, currently have 73 tokens in circulation with a market cap of $5.1 billion.
Furthermore, there are 11 Central Bank Digital Currencies (CBDCs), with an anticipated annual market transaction value of $213 billion by 2030.
Source: CoinGecko, CoinMarketCap, Statista
The Future Forecast of the Crypto Industry Numbers
The crypto industry will witness a significant transformation in the coming years. Notably, Bitcoin is predicted to surge dramatically, carrying the whole market behind itself in this run.
Experts believe Bitcoin will move above $50,000 by the end of 2024.
While 2025 BTC will fail to hit the $100,000 milestone, it should be able to do so in 2026 at an average predicted price above $130,000.
Looking at a longer time horizon in 2030, we should see Bitcoin between $750,000 and $800,000.
In 2031, BTC may have the chance to go above $1,000,000.
By 2033, Bitcoin’s rival, Ethereum, will likely hit the $10,000 milestone at an average predicted price of $12,582.83.
Looking at other coins, experts are equally enthusiastic in their predictions. Dogecoin, for instance, has an average predicted price of $0.138 by 2025.
Another popular meme coin, such as Shiba Inu, may reach $0.0000152 by the end of 2025, targeting $0.0000302 by 2030.
Source: Coinweb Price Prediction
Conclusion
With over 8,000 active cryptocurrencies and a rapidly growing market, it is clear that digital currencies are here to stay.
The evolution of the crypto industry has been marked by intermittent growth spurts, with no signs of slowing down in the near future. As we look ahead, predictions for Bitcoin’s price are extremely bullish, and the market is expected to continue its upward trend.
With new categories of cryptocurrencies emerging and major institutions showing interest in digital assets, it is safe to say that the crypto industry will continue to shape the financial landscape in the coming years.
Recommended Trends
A cryptocurrency is a type of digital or virtual currency that uses cryptography for security. The most well-known cryptocurrency is Bitcoin, but there are thousands of other cryptocurrencies with various features.
Cryptocurrencies can be bought on an exchange using traditional money or traded for other cryptocurrencies. Exchanges are platforms where you can buy, sell, and hold cryptocurrency.
Bitcoin is the first decentralized cryptocurrency, created in 2009. It is the most well-known digital currency and is often used as a "base currency" for other cryptocurrencies.
Blockchain is the technology that underpins cryptocurrencies. It is a type of distributed ledger that records all transactions made with cryptocurrencies.
Investing in cryptocurrencies can be risky, as prices can be extremely volatile. Always do your own research and consider your own financial situation before investing.
Susan Oh
Susan Oh is a leading figure in the integration of AI and blockchain for social good, serving as the CMO for BeOmni by Beyond Imagination and a civic technologist dedicated to creating scalable solutions. She is a board member of the Blockchain Commission For Sustainable Development supported by the UN GA Office of Partnerships, and a member of the Global Sustainability Network, a joint initiative by the Vatican and the Church of England to combat human trafficking. Recognized with the...
