September 27, 2021

The Crypto Industry Is Booming, More Than 10 Tokens Launched Every Day

 Believe it or not, when the crypto sector is engulfed in the interest of most corporate and institutional investors, it can be said that almost 5,000 new tokens have been launched over the past year.

These records can be monitored on CoinMarketCap. As of the writing of this article:

The total number of crypto tokens has exceeded 12,000.

As of September 2020, 7,100 crypto tokens have been recorded.

That means at least 4,900 crypto tokens have been launched since last year.

Marking over 10 new tokens a day.

Indirectly, this is the biggest year -over -year (YoY) jump since the existence of Bitcoin (BTC). No wonder the industry was able to see its market value reach over $ 2 trillion around last May.

Generally, interest in the crypto sector began with rising Bitcoin prices and institutional involvement over the past year, again when Tesla founder Elon Musk and Twitter CEO Jack Dorsey showed support for the crypto industry.

Not only that, these assets play a role as inflation protectors especially during the economic crisis caused by the COVID-19 pandemic. While during September 2020 where the world is witnessing the collapse of the stock market, most crypto assets still remain at their value.

Such privileges will further spur the development of the crypto sector, prompting the continued establishment of cryptocurrencies before escaping with demand and profit trends.

Yet, this sustainability also at the same time also invites the spies of the authorities who determine whether this asset is something safe or otherwise.

For example chairman Gary Gensler has often shown his skepticism towards the sector through plans to introduce stricter legislation for the purpose of protecting investors before they incur losses.

Undoubtedly, crypto investing is just like any other investment which is always tied to its risks. If not due to a ponzi scheme, it could be due to network hacking.