Throughout 2022, the opposition of cryptocurrency market seems to make cryptocurrency developers anxious. According to data information of CoinMarketCap, about 5317 new digital currencies have been launched this year, which is self-evident.
This means that the total assets of the market tracking website at this stage is 21,555, which is 32% higher than the 16,238 recorded on January 1.
The increase in the number of data assets puts the cart before the horse with anyone's estimate. Fully considering the current situation of the encryption market, it will prevent new participants from adding this field.
What is more surprising is that although a new asset has been enhanced, the total market value of cryptocurrency market this year still fell below the price of 100 million dollars. On the positive side, this milestone has been regained through the group encryption gathering in the past few months.
Many people believe that developers continue to create cryptocurrency, not only to make money, but also to reproduce the success of BTC, the first cryptocurrency. BTC has been accepted as a currency in El Salvador and as a payment method by more than 15000 countries around the world.
Historically, the new currency entered the cryptocurrency market after the bull market, but this is not the case in 2022. The addition of more than 5000 new cryptocurrencies is likely to mean that real estate developers still firmly believe that a very big rebound is coming.
On the other hand, it may also mean that developers are only using the downward trend to build a project that will be introduced in the next bull market cycle.