I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?
I think the number of exchange are far more than 500 now but the reputed exchanges are very few with high trading volumes but having more and more exchanhes doesn't affet the prices it can help more people to come towards bitcoin and other crypto currencies because people will have trust on crypto and they will think that they can easyly convert their coins at any time into fiat.
The fact that the number of stock exchanges is excessive is not a negative situation, but there may be bad stock exchanges among stock exchanges. If a stock market fraud, the entire crypto money market is affected negatively.