The number of altcoins does not matter, because everyone can create tokens by giving a small fee. There are many coins that are useless and have no value and there are many other coins that can be bought but can't be sold. So beware of these scams.
altcoin number will always growth day by day and no one could stop it. As investors we only need to stop them scammed us. Make a list and short altcoin projec that will pick up could help us identity them. Especiall in trending project, usually alot scammer there.
The increase in number of altcoins can be attributed to fake projects been launched on a daily basis. It's quite sad that anyone can wake up and decide to launch a token, pump it get people to invest and dump it. It's part of the decentralization that comes with cryptocurrency. Ensure you do an in-depth analysis so you don't fall in their trap.
cryptocurrency growth have negative effect to us, unresponsibilit person taking advantages from this changes. they will build fake project and at the end take our money.