CoinMarketCap Hits a New All-Time High

According to CoinMarketCap, the leading provider of cryptocurrency data, there's never been more cryptocurrencies in existence than now.

Data from the company shows a 3,000 percent increase in the number of cryptocurrencies on the website since it tracked just 66 assets in 2013.

According to current figures, the site averages 422 newly listed cryptocurrencies per year which could be broken down to nearly 8 per week.

After nearly a year of cryptocurrency price declines in what history will remember as "The infamous 2018 bear market," one has to wonder if the poor market conditions will take a toll on the rate of cryptocurrency creation.

The rise in one of the site's featured metrics, total market capitalization of all cryptocurrencies, is perhaps even more staggering that the number of assets created.

According to historical data provided from the CoinMarketCap, the total market capitalization of all cryptocurrencies aggregated from just seven listed assets on April 28th, 2013 was just shy of $1.6 billion.

CoinMarketCap doesn't list every cryptocurrency in existence so some competing websites with different listing criteria may provide data for many more.

CoinGecko is closing in on 3,000 listed cryptocurrencies with 2,982 at the time of writing.

Each asset must "Be a cryptocurrency or crypto token on a public exchange with an API that reports the last traded price and the last 24-hour trading volume." Further, each "Must have a non-zero trading volume on at least one supported exchange so a price can be determined, and for market cap ranking, an accurate circulating supply figure is required."

While the listing criteria remain the same, Chez does tend to identify different themes among the listed cryptocurrencies per year.