Despite the intense crypto bear market, 5,000 new cryptocurrencies emerged in 2022.
The increasing interest in cryptocurrencies has brought with it new projects. In particular, the entry of countries and institutions into the crypto sector has instilled confidence in investors. Powerful projects such as Aptos and Optimism provided serious gains to their investors. At the end of the year, more cash began to enter the market. The thought that the bear market is ending attracts new investors and new projects.
Increase in Number of Cryptocurrency
The crypto bear market is a period in which projects that do not have a fundamental basis or seriousness are a thing of the past. Especially in these sinkings, DeFi projects that trade on the assets of the investors are concentrated. Experiences in projects such as Terra, Celsius and Torn come to the fore.
In the market where there was no money inflow, the projects tried to survive. However, the emergence of new cryptocurrencies, especially recently, has attracted attention. In previous bull market scenarios, the start and process had improved with the rise of cryptocurrencies.
According to CoinMarketCap data, on January 1, there were 16,238 cryptocurrencies in the market. October 28 data showed that the number increased to 21,555 cryptocurrencies.
Despite the crypto projects that have become history in the market, the increase rate was around 32 percent.
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