How many cryptocurrencies are there? Total number and types

The first cryptocurrency appeared in 2009, and today its name is known to almost everyone: Bitcoin. What made this so interesting was the promise of a new kind of money: no government interference, complete privacy, and everyone having the same rights within the system.

At first, Bitcoin (BTC) was not taken seriously. The rise of cryptocurrencies did not really take off until 2013, when the price exceeded a few hundred dollars and they began to spread and proliferate globally. So how many cryptocurrencies are there today?

How many cryptocurrencies are there in the world?

Statista reports that the number of cryptocurrencies is approaching 10,000 by September 2024. However, it is worth noting that many of these cryptocurrencies may not be particularly relevant or active.

Statista also notes that other sources estimate that around 20,000 cryptocurrencies exist, but most of them are either inactive or retired.

As of early November, CoinMarketCap, a leading cryptocurrency data aggregator that tracks prices, market cap, and transaction volume, lists 9,916 cryptocurrencies, while CoinGecko, another popular crypto data platform known for its comprehensive market statistics, lists 15,142 cryptocurrencies.

Number of coins tracked by CoinMarketCap | Source: CoinMarketCap

It’s hard to find out exactly how many cryptocurrencies there are because the numbers are constantly changing, but we can say this for sure: there are a lot more of them than there were in 2009.

Why are there so many cryptocurrencies?

Thanks to easier access to blockchain technology, even those with basic coding knowledge can start their own cryptocurrency. Platforms like Ethereum allow developers to create tokens without having to build their own blockchain from scratch.

This low barrier to entry has led to an explosion of new projects, each claiming to offer something unique, such as faster transactions, privacy features, or use in specific industries. Some even target niche markets like gaming, art or supply chains.

While many of these coins will not survive in the long term, the ease of creation is driving the evolution of the entire crypto ecosystem by fueling constant experimentation and innovation.

How many types of cryptocurrencies are there?

How many cryptos are there?

Here’s a breakdown of the main categories of many different types of cryptocurrencies, each designed for a specific purpose.

Bitcoin and Bitcoin forks

Bitcoin is the first and most famous cryptocurrency designed as a decentralized, peer-to-peer digital currency. Bitcoin forks, such as Bitcoin Cash (BCH) and Bitcoin SV (BSV), are versions of Bitcoin with minor tweaks to improve speed or transaction costs.

altcoins

Altcoins are basically any cryptocurrency that is not Bitcoin; each offers something unique, such as new features, different uses, or new technologies that will shake up the digital currency scene. For example, while Ethereum (ETH) brings smart contracts to the table, Solana (SOL) stands out with its fast and low-cost transactions.

Stablecoins

Designed to reduce volatility, stablecoins are pegged to real-world assets such as the US dollar. Tether (USDT) is the most widely used and offers stability to investors.

meme coins

Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) were created as fun projects but turned into something much bigger thanks to viral social media moments. Pepe Coin, inspired by the Pepe the Frog meme, has also become popular in the meme-crypto space.

Utility tokens

These tokens are used to power specific applications. Chainlink connects smart contracts to real-world data, while Uniswap is used for governance on the Uniswap decentralized exchange. Binance Coin started as a way to pay lower fees on the Binance exchange but now has broader uses within the Binance ecosystem.

How many cryptos actually matter?

There are thousands of cryptocurrencies on the market, but only a small percentage are truly significant in terms of widespread use, market cap and technological impact. Bitcoin remains the dominant force, widely considered the first and most valuable cryptocurrency.

Ethereum is another heavyweight driving much of the DeFi and NFT boom, known for its smart contract capabilities and dApps. Other notable cryptocurrencies include Binance Coin, which powers the Binance ecosystem, and Solana, which is praised for its high-speed transactions.

Meme coins like Dogecoin and Shiba Inu have certainly attracted attention, but whether they will have lasting value is still a big question. The crypto world is advancing rapidly, but not many assets have truly transformed the industry. Those that have are still leaders in terms of innovation and market influence.