The number of cryptocurrencies has been shifting back and forth over the years, reflecting investor sentiment and crypto market trends. Ever since the crypto boom in early 2022, their number has been floating between 8,500 and 10,000, with hundreds of new tokens launched every time a bull run starts. The 2024 rally was no exception, triggering a wave of new launches that pushed the total number of cryptos on the market to a record 10,700 in January. But shortly after reaching an all-time high, this figure plunged like never before.
According to data presented by CryptoPresales.com, nearly 800 cryptocurrencies have been delisted since January, marking the crypto market’s worst three-month drop ever.
Worse Than the 2022 Market Crash
Cryptocurrencies ended 2024 on a high note, with major tokens smashing records and the surging crypto adoption pushing trading volume and the number of cryptos to record highs. The momentum from the 2024 crypto bull carried into the first weeks of 2025, setting the stage for what seemed like another groundbreaking year with more records in sight. But that optimism didn’t last long.
According to data from Investing.com, which tracks the number of cryptocurrencies, the figure hit 10,700 in January, surpassing the previous 2022 peak by 300. However, regulatory challenges, global macroeconomic concerns, Donald Trump’s trade policies, and global trade wars have shaken up the crypto market, causing the total number of cryptos to plunge like never before.
By the end of March, the number of cryptocurrencies slipped to 10,500, with more than 200 coins delisted in just two months. But that is nothing in comparison to what followed. In the past month and a half alone, another 583 coins vanished from the market, pushing the year-to-date total to 780. This marks the worst three-month drop the crypto market has ever seen, far exceeding the downturn during the 2022 crash. Between February and August of that year, the number of cryptos plunged by roughly 400, while the full-year decline reached over 1,100.
Only 2% of All Cryptocurrencies are Worth more than a Dollar
Despite the sharp correction, the total number of cryptocurrencies in circulation remains high. While many investors hope to discover or create the next Bitcoin or Ethereum, many of these coins have little or practically no value, and their share in the crypto space is enormous. Statistics show that 98% of all coins circulating in the crypto space are worth less than a dollar. A deeper insight shows that only 49 coins are valued at over $100 and just 19 more than $1,000.
Although thousands of cryptocurrencies exist, only a handful dominate market share and usage. The CoinMarketCap data shows that the top ten highest-valued digital coins accounted for 90% of the total crypto market value last week, up from 86.5% in December.
