There are many reasons to create a new coin. First, there are too many coins in the market, but they do not bring any profit to the user. Second, if you create a new currency, the creator of the coin will have to apply advanced technology so that they can thrive. Once they have thrived, they will yield a profit although not as high as bitcoin but can grow for a long time.
Bruh
Seriously? 😒How can you say that the reason for creating new coins is because that there are already too much coins in the market, please just go through your comment again and tell me how creating more new coins can solve the problem of having too many coins? Rather the number of coins that we have today will continue to increase tomorrow. It doesnt even make any sense, I think new coins are mostly being created by scammers who wants to steal money from the investors.
Exactly money making is the main reason for the most of the new crypto currencies were created,we no need may coins we just need the coins which actually can fit in the real world usage.Most of the available crypto currencies were just the copy of the existing coins so we no need that kind of coins,we need some unique ideas from the creators.