Its been a very long time that I've been using coinmarketcap.com/new to find new crypto projects that just get listed on the platform and I've come to notice that every two to three days coinmarketcap always list up to 30 new crypto projects, how insane is that? It shows that more than 100 crypto projects are released every week cos some landed on coingecko first before coinmarketcap, this to me is scary
You are criticizing a very valid subject. The total number of cryptocurrencies on Coinmarketcap has approached 20k. Do we need so many projects? Absolutely not. We dont need. 90% of the cryptocurrencies on the list will go down in history as unsuccessful attempts; Investors will be disappointed. As someone who believes in the free market; I am also worried.
At this time it is normal that there is an increase in new projects, the reason is simple, the market is somewhat bearish and everyone thinks that when BTC grows, all altcoins begin to rise, and yes, they are right, they can rise because It is natural that there is such behavior, so with some publicity at the ideal time, which is when BTC is in a bullish trend, most investors will want to shelter their money in altocoins, and they will trust the project that has more publicity and obviously more innovation. This is very normal in crypto, every investment when it is in BTC, when a correction occurs, investors go to altcoins quickly because they know that if they buy in the BTC correction, the altcoins will give at least x2 and this increases their money , is a simple strategy.