Days back the available number of cryptocurrencies reached 3000+ while the trading pairs have gone above 20750, and today it has got increased to 3025. If the same continues we can expect the number of cryptocurrencies available in the market to be above 3500+
Is this a healthy thing for the growth of cryptocurrency network or is it degrading the value of the system as large number of cryptocurrencies are available with zero trading volume and without any product backing.
I would not say that it is an healthy move because most of those projects that you are looking at dont seems to have real working product backing them which means that at no point would they be able to get volume for the market other than the ones they have gotten at the initial stage of their ico when they made lots of hype for presale.
The disadvantage of this also is that it will get people confuse, because the more project that we have in the market, the more it will stress people to stand finding the reliable ones out, but if we have few projects, it would not be really difficult to be able to select anyone that we know will be of great value or asset to us in the future when the cryptocurrency start getting being used more than it is now.