Cryptocurrency markets have never witnessed such a surge in the number of altcoins. Currently, the count reaches into the millions. Due to this overwhelming supply, many speculate that a new altcoin bull run is unlikely. Factors like fragmented liquidity and continuously shifting trends contribute to this sentiment. So, what is the accurate count of altcoins available?
How Many Altcoins Exist?
According to Coinmarketcap data, there are 10.74 million cryptocurrencies. The rise of meme coins has led to an unprecedented increase in their numbers. As a result, we witness a plethora of meme coins with random character combinations. Some have even turned this into a lucrative opportunity, launching thousands of meme coins while executing rug pulls to gain hundreds of thousands of dollars.
Out of the total, only 10,815 altcoins have been listed on Coinmarketcap, indicating that a significant number remain unlisted. Moreover, many of these coins exhibit trading volumes below $1,000.
When we narrow down to altcoins with trading volumes over $1 million, the count drops to 1,312. If we focus on those with a market cap exceeding $10 million, the number further dwindles to about 870.
The Altcoin Bull Run and Liquidity
On Binance, there are 394 altcoins with 1,335 trading pairs. The volumes show that 25.7% belong to FDUSD, 58.24% to USDT, and 1.4% to BTC pairs. Binance holds the title as the world’s largest centralized cryptocurrency exchange. Meanwhile, Coinbase hosts 271 altcoins, ByBit has 541, and OKX features 307 altcoins.
In fact, the reserves of stablecoins on exchanges have started to rise.
