The number of cryptocurrencies exceeds 22,000, a milestone in the midst of the 2022 bear market

Although the cryptocurrency market has been under a lot of stress in 2022, affected by negative developments such as regulatory pressures and macroeconomic uncertainty, as well as platform crashes and bankruptcies, it is still growing.

Specifically, as of December 11th, the number of cryptocurrencies tracked by CoinMarketCap This number reached 22,000 for the first time in history, while at the time of this report’s publication, that number stood at 22,032, according to data retrieved on December 14.

Total number of digital assets, December 14, 2022. Source: CoinMarketCap

Since June 26, when Coinphony last reported the growth of the crypto market, the number of digital assets has increased by 10.15% or 2030 new digital currencies, given that the number of digital assets at that time was 20,002.

Crypto market growth in 2022

Comparing the latest data to the situation on January 1, 2022, when there were 16,238 digital assets around, the crypto industry has grown even further with 5,794 assets in 2022, which is a growth of 35.68% over the year.

Meanwhile, despite the emergence of new digital assets, Bitcoin (BTC) maintained its dominance, with a market capitalization of 39.3% of the cryptocurrency market, followed by Ethereum (ETH) with 18.6%.

Falling stock market versus enthusiasm

However, while the number of decentralized finance (DeFi) assets continued to grow, the total market capitalization of the crypto sector declined, dropping from $2.2 trillion on January 1 to $0.87 trillion at the time of writing, a decrease of 60.44% or 1.33%. trillion dollars since then. beginning of the year.

The total market capitalization of cryptocurrencies year-to-date. source: CoinMarketCap

However, the market has no shortage of enthusiasts and believers in a better crypto future, as demonstrated by CoinMarketCap’s End of the year poll, in which more than 80% of respondents expressed their opinion that the year 2023 will be optimistic, compared to less than 17% who were skeptical.

warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

Cryptocurrency Crosses Past 22,000 Milestone Amid 2022 Bear Market Debuts On Coinphony.

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