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.
Actually the presence of crypto is also full of business competition. If they are not able to compete well, of course, they lose the sale value. It means zero trading volume. Now it has reached 3000+ cryptocurrencies in circulation. But among them, the active ones have platforms that can be used by the public. Such as platform exchanges, wallets, mining, and platforms that provide smart contract services. So what is the fate of tokens that are only present without offering public services? Of course, they will die on the way.