According to the data, in 2024, the cryptocurrency landscape has expanded dramatically, with over 2.52m cryptocurrencies existing to date, a surge from the 0.44 million at the end of 2021:

⚫️Approximately 0.54m new tokens have been created as of early April 2024, averaging 5,300 new launches daily

⚫️2024 is on pace to exceed the 0.83m new tokens recorded in 2023, indicating a continuous growth in token creation

⚫️The record for monthly new token launches was broken in March 2024 with 195,735, influenced heavily by memecoin seasons

⚫️The ease of token creation and cheaper onchain trading are contributing to spikes in new tokens, reflecting a rise in onchain speculative activity