Good morning, I would like to invite everyone to observe the current state of the Crypto market this year. Be a wise chooser among the millions of new tokens/coins emerging, wish everyone good luck.

In 2024, the Crypto market faces the situation of "token inflation" as too many new tokens/coins are being created. This is not necessarily a good thing, sometimes it backfires and causes the already poor liquidity to become severely fragmented.

Here are the observations and evaluations from BeInCrypto about this situation.

The number of tokens in the market exceeds 2.5 million, the highest in Crypto history.

The total number of tokens/coins currently in the market exceeds 2.5 million as of April 2024, according to Coingecko. According to CoinmarketCap, as of now, the number of tokens in the market is over 2.4 million. --In fact, if we include tokens freely created by users on Layer 2 platforms, the total number is much larger.

A report from Coingecko states that the total number of tokens in the market has increased more than 5 times since it was below half a million at the end of 2021. The illustrative chart shows that the upward trend is becoming steeper in 2024. Data shows that in the first half of 2024 alone, over 0.54 million new tokens have been created, while the total number of new tokens for the entire year of 2022 was 0.71 million.

Source: New Report