The number of cryptocurrencies has surged to over 37 million by September 2025, driven by the ease of token creation, diverse use cases, and speculative activity, though many of these tokens are inactive or of low quality. Despite this vast number, the market remains heavily dominated by major players like Bitcoin and Ethereum, while oversaturation has made it increasingly difficult for new projects to gain traction or for broad-based altcoin rallies to occur. Regulatory changes and shifting market dynamics continue to shape the industry, with many tokens failing due to low interest, scams, or lack of utility.
As of September 2025, over 37 million unique cryptocurrencies have been created, and we’re on track to reach 100 million by the end of the year. For context, fewer than 3,000 tokens were created in 2017—2018 and fewer than 500 in 2013—2014.
source: cryptorover
While the number of cryptocurrencies may exceed 36.4 million, not all of these are active or meaningful. Many projects fail shortly after launch due to a lack of interest or poor execution. Others may be experimental or created for specific purposes, such as testing new blockchain features.
Why the number of cryptocurrencies keep rising
According to data from CoinMarketCap and other crypto tracking platforms, 10,000+ cryptocurrencies existed as of September 2025. This staggering number reflects the rapid decentralization happening within the blockchain and cryptocurrency industry.
The current growth in the number of cryptocurrencies can be attributed to several factors:
Ease of creating a cryptocurrency Launching a new cryptocurrency has become relatively simple with the advent of blockchain platforms like Hyperliquid, Base, and Solana, which allow developers to create their own tokens using smart contracts. Many cryptocurrencies are created as SPL tokens on the Solana network, while others are built on alternative blockchains like Binance Smart Chain, Base, or Polygon.
Diverse use cases Cryptocurrencies are no longer just digital currencies. They serve a wide range of purposes, including decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, supply chain management, and more. Each new use case often spawns its own set of tokens and coins.
Greater speculation The crypto market has attracted significant attention from investors seeking high returns. This has led to the creation of countless new projects, some of which are legitimate innovations, while others are speculative ventures or outright scams.
Implications of the growing number of crypto tokens
The Solana blockchain accounts for approximately 70% of the total token population. This dominance can largely be attributed to the HyperLiquid "trenches" and platforms like pump.fun, which generate numerous low-quality tokens at a rapid pace.
In contrast, Ethereum and its ecosystem represent a significantly smaller share, while other chains, such as Tron and Binance Smart Chain (BSC), contribute only modestly.
This metric is crucial as it helps explain why the current market cycle is particularly challenging to navigate, with diminishing returns on investments.
The market has become significantly oversaturated. In 2017, there were fewer than 10,000 tokens, and by 2021, that number had grown to less than 100,000. Today, however, we have over 36 million tokens available, meaning that the supply far exceeds demand.
As a result, the broad-based alt-seasons of the past are becoming increasingly unlikely to occur again. Instead, it seems we will mostly see short bursts of altcoin price pumps rather than sustained price runs.
BTC and ETH dominance
Despite the sheer number of cryptocurrencies, the market is heavily dominated by a few major players. Bitcoin (BTC) and Ethereum (ETH) alone account for a significant portion of the total cryptocurrency market capitalization. Other prominent cryptocurrencies, such as Ripple(XRP), Binance Coin (BNB), Cardano (ADA), and Solana (SOL), also have a substantial market share.
This concentration of value highlights the fact that while millions of cryptocurrencies exist, only a small percentage have achieved widespread adoption and recognition. Many smaller projects struggle to gain traction, and their tokens may have limited liquidity or utility.
Regulation and market dynamics
Regulatory developments and investor sentiment greatly influence the cryptocurrency market. Stricter regulations may eliminate fraudulent or non-compliant projects while also encouraging the growth of legitimate assets.
Market dynamics also shape the crypto landscape. Bull markets often see a surge in new projects and tokens, while bear markets tend to weed out weaker players.
FAQ: Number of cryptocurrencies
How many cryptocurrencies have failed?
Between 2013 and 2025, at least 12,383 cryptocurrencies became defunct. The primary reasons for these failures include abandonment due to low trading volumes, scams, and unsuccessful initial coin offerings (ICOs).
Key indicators of potentially failed cryptocurrencies include low trading volumes (99% of defunct coins), being unlisted on exchanges, and inactive development.
How many cryptocurrencies are listed on Binance?
As of September 2025, Binance lists approximately 415 cryptocurrencies.
How many cryptocurrencies are created every week?
The cryptocurrency market is highly dynamic, with new tokens frequently introduced. However, specific data on the exact number of cryptocurrencies created weekly is not readily available.
How many cryptocurrencies are there on CoinMarketCap?
CoinMarketCap currently tracks over 9,537 active cryptocurrencies. This platform provides comprehensive data on a wide array of digital assets.
How many cryptocurrencies are there on Coinbase?
319 cryptocurrencies are tradable on Coinbase. This selection includes a variety of well-established and emerging digital assets.
Please note that the cryptocurrency landscape is continually evolving, and these numbers may change over time.
