Published: January 24, 2022
You probably already know that cryptocurrency is digital money that uses cryptography to secure transactions. However, maybe you’re not aware that they’re increasing in popularity, and as they become more widely accepted, new coins emerge each day.
So, just how many coins are there on the market?
Keep reading to find out!
How Many Cryptocurrencies Are There?
As of December 2021, there were over 8000 cryptocurrencies available on the market! This figure may seem like a lot, but it’s important to note that many of them don’t have any kind of trading value.
Cryptocurrency Stats and Values in 2021
As previously mentioned, there’s a handful of cryptocurrencies with trading value, meaning that we can exchange them for physical money. Those values range from significantly less than a dollar to over $100,000.
There were over 100 cryptocurrencies available on Coinbase in 2021.
Coinbase is one of the largest crypto trading and investment platforms on the market. It currently has over 73 million active users, and some of the most popular coins on its list are Bitcoin, Ethereum, and recently — Dogecoin.
Many cryptocurrencies have different functionalities.
There are a lot of different cryptocurrencies, which can get confusing since they all seem to have the same purpose. However, their underlying blockchain technology allows developers to create new coins that can perform different functions.
For example, many crypto coins act as currencies, while some have a utility function. These cryptos are developed as an infrastructure, allowing other cryptocurrencies to be created on top of their networks,
As of 2021, there were over 100,000 Bitcoin millionaires in the world.
(Source: Yahoo Finance)
The number of cryptocurrency millionaires has been increasing incredibly fast. For instance, just four months prior, about 25,000 Bitcoin holders had at least $1 million worth of coins compared to only 15,000 one year prior.
The music industry has its own cryptocurrencies.
Aside from well-known, more general-purpose coins like Bitcoin or Ethereum, there are other ones that are more specific to a particular domain.
The current top cryptocurrency in the music industry is Audius, which supports direct transactions between the artist and the listeners. Audius’s all-time highest value was $4.99 as of March 2021.
There were 453 cryptocurrencies market exchanges on January 19th, 2022.
According to Coin MarketCap, there were 16,961 cryptocurrencies in total, and the number one on the list was Binance, followed by Coinbase Exchange and FTX. Binance’s exchange rate was 9.9, while the other two had 8.7 and 8.4, respectively.
The most searched digital currency in 2021 was Dogecoin.
(Source: The Motley Fool)
Although popular, Bitcoin and Ethereum weren’t the most searched coins. The most searched crypto was influenced by what the users saw on social media and the news, and therefore Dogecoin, Shiba Inu, and Cardano took the top 3 spots on that list.
XRP is currently considered the best cheap cryptocurrency to buy.
Among the coins with values exceeding $10,000, many cheaper varieties exist on the market. For example, according to GoBankingRates.com, XRP is the top cheap cryptocurrency to purchase — that could generate a return on your investment.
The cheapest cryptocurrency on the list is Shiba Inu, which as of December 2021, had a value of just $0.0000363.
We hope this article helped you better understand some facts and stats about crypto. If you have any questions or feel like we left something out, leave us a comment below!