{"id":5338,"date":"2023-02-14T08:31:46","date_gmt":"2023-02-14T08:31:46","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=5338"},"modified":"2023-02-14T08:31:46","modified_gmt":"2023-02-14T08:31:46","slug":"total-number-of-cryptocurrencies-down-by-1700-in-a-year","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/02\/14\/total-number-of-cryptocurrencies-down-by-1700-in-a-year\/","title":{"rendered":"Total Number of Cryptocurrencies Down by 1,700 in a Year"},"content":{"rendered":"

For years, the crypto space has seen a surge in cryptocurrencies, with their total number hitting an all-time high of almost 10,400 a year ago. However, the prolonged crypto winter caused the biggest drop in the number of cryptos, and the negative trend is still on.<\/p>\n

According to data presented by Bitcoin Casinos<\/a>, the total number of cryptocurrencies dropped by 1,700 year-over-year, falling to 8,704 as of last week.<\/p>\n

Total Number of Cryptocurrencies Falling to 2021 Levels<\/strong><\/h3>\n

Anyone can create a cryptocurrency, but the process requires time, resources, and advanced technical knowledge. The main options are creating your blockchain, modifying an existing one, establishing a coin on an existing blockchain, or hiring a blockchain developer. But making crypto is one thing. Maintaining it and growing it over time is far more challenging.<\/p>\n

Still, that didn’t discourage investors and opportunists from creating their digital currencies, many of which had no real value. Statista and Investing.com data show the total number of cryptos grew 75 times between 2013 and 2021, jumping from just over 60 to more than 4,500.<\/p>\n