I also believe that the amount of existing cryptocurrencies seems excessive in view of how small the market is still, but we must take into account that this is to be expected in an open market like this, where anyone interested in benefiting from the expected crypto boom can aspire to take a slice of the pie, however, since many of the recently launched projects never had a viable idea and only arose for purely speculative purposes, it is difficult for them to survive the hard blows of the current market, which will only be willing to give life to viable and reliable projects.