Why Are There So Many Cryptos? You Won't Believe the Numbers! 😱

So, let me get this straight. In January, we had a record-breaking number of new cryptocurrencies. Over 600,000! I mean, what are we doing here? Are we minting tokens or are we running a token factory? 🤔

According to some guy named Bobby Ong from CoinGecko, this is a 12-fold increase from last year. I can’t even keep track of my socks, and these people are launching tokens like it’s a new flavor of ice cream! 🍦

“Back in 2022-2023, we were minting around 50k new tokens a month,” Ong said. Fast forward to now, and it’s like a token explosion! 400k new tokens a month? What’s next, a million? I can’t even keep up! 😩

And let’s not forget about these platforms like Pump.Fun. They’re making it so easy to create tokens, it’s like giving a toddler a crayon and saying, “Go wild!” 🎨

Gabriel Halm from IntoTheBlock says this is all part of the “natural exuberance of a bullish crypto market.” Natural exuberance? More like natural chaos! It’s like a buffet where everyone’s trying to eat everything at once, and nobody knows what’s good! 🍽️

And guess what? The established altcoins are just sitting there, looking at their 2021 highs like they’re some kind of distant memory. Analysts are saying we might have a delayed altcoin season. Delayed? More like postponed indefinitely! ⏳

TradFi institutions are messing with crypto liquidity rotations

In the past, when Bitcoin would rally, profits would trickle down to Ether and then to altcoins. Now, it’s like a game of hot potato, and nobody wants to hold onto it! 🎈

Halm says that traditional finance institutions are changing the game. Great! Just what we need—more players in this already crowded field. It’s like adding more toppings to a pizza that’s already overflowing! 🍕

“The emergence of traditional finance institutions will inevitably alter the liquidity rotations seen in previous cycles,” Halm said. Well, isn’t that just peachy? 🍑

Ong also pointed out that liquidity fragmentation is the real issue here. Too many tokens, too little attention. It’s like trying to find a needle in a haystack, except the haystack is made of tokens! 🪡

At this rate, we could hit a billion tokens in five years. A billion! I can’t even fathom that. What’s next, a token for every person on the planet? 🌍

2025-02-15 15:09

Why Are There So Many Cryptos? You Won’t Believe the Numbers! 😱

TradFi institutions are messing with crypto liquidity rotations

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