Despite the “bear market” the number of active coins in CoinMarketCap rating exceeded 2000

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Despite the “bear market” the number of active coins in CoinMarketCap rating exceeded 2000

“Bear market” 2018 may discourage investor— speculator hunt to engage a new asset class, however, it seems that the trend is not strongly affected by the number of new altcoins launched on the market. Proof is the fact that the website CoinMarketCap, a popular source of information about the state of cryptocurrency, today, 28 September, passed another important milestone. Now his ranking of the market capitalization data includes more than two thousands active coins and tokens. From the beginning of 2018 list of website added 600 digital assets.

Much of the new currency is tokens, operating on the blockchains of other coins. Even projects that would eventually launch its own baccani, now often start as ICO on the networks of Ethereum, Stellar, and others.

As of Friday, September 28, the index market capitalization currencies on CoinMarketCap includes 2008 assets.

The website does not provide data on how many cryptocurrencies he was subjected to de-listing, but reports that indexed all projects must be posted on public cryptocurrency exchange with a functional API and to have nonzero trading volume.

This is not the most stringent requirements. Frankly fraudulent project PayCoin, the founder who recently went to prison for 21 months, managed to have a market capitalization of $157 000 for the background of intraday trade volume of $7.

Nevertheless, dropout rates remained low. For example, three of the ten largest crypto-currencies, as of may 2013 – the earliest date that the Wayback Machine Internet Archive has fixed the website – is missing from the list. Surprisingly that the coin BBQCoin, which in that day held the eleventh place, has not received wide distribution.

Market capitalization of crypto-currencies in may 2013.

Despite the many cryptocurrency projects that occur day in, day out, bitcoin, which marked the beginning of it all, still dominates the market.

As of Friday morning, the share bitcoin accounts for 52.1% of the market capitalization of cryptocurrencies. In other words, bitcoin is not just the most valuable cryptocurrency, but it’s worth more than all the rest of 2007 put together.

Graph illustrating the dominance of bitcoin on the market — from 28 April 2013 till 28 Sep 2018.

It was not always so. If at the end of 2013 the share of bitcoin accounted for 97 percent of the market capitalization in the next few years of bitcoin’s position was not so strong, although he always kept above 80%. This situation has changed in 2017, when the Ethereum, the development of the ICO, briefly claimed the crown of bitcoin. At a certain stage of three-quarters of the market capitalization controlled altcoins, but a bear market this year have cemented the dominant position of bitcoin in the cryptocurrency ecosystem.

According to the materials of CCN.

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