- Cryptocurrencies surged from 66 in 2013 to 8,886 in 2023.
- 2017 saw explosive growth, with 2,817 currencies launched.
- The market peaked at 7,557 in 2021 before consolidating at 8,886 in 2023.
In the rapidly changing world of finance and technology, the past decade has seen an unprecedented surge in the popularity and diversity of cryptocurrencies. Starting with the introduction of Bitcoin in 2009, the following years saw the emergence of numerous digital currencies vying for their place in the evolving landscape.
A new study by CoinJournal.net analyzed data available from: politician To get an overview of the incredible growth of cryptocurrencies over the past decade.
| year | number of cryptocurrencies |
| In 2013 | 66 |
| year 2014 | 506 |
| 2015 | 562 |
| 2016 | 644 |
| 2017 | 1,335 |
| 2018 | 1,658 |
| 2019 | 2,817 |
| 2020 | 4,117 |
| 2021 | 7,557 |
| 2022 | 9,310 |
| 2023 | 8,886 |
Early years (2013-2016)
In 2013, the cryptocurrency market was in its infancy with 66 digital currencies. As a pioneer, Bitcoin dominated the scene, setting the stage for what was to come. The following years saw a gradual increase to 506 cryptocurrencies in 2014 and 562 cryptocurrencies in 2015. As the technology matures, the number of cryptocurrencies continues to grow, reaching 644 in 2016.
Cryptocurrency Boom (2017-2019)
2017 was a turning point for the cryptocurrency market as it exploded with a whopping 1,335 digital currencies. This surge has been fueled by increased public awareness, increased investor interest, and the rise of ICOs as a popular method of raising funds. This trend continued in 2018 and 2019, with 1,658 and 2,817 cryptocurrencies, respectively. This period is characterized by innovation, competition, and exploration of various blockchain applications beyond digital currencies.
A year of unprecedented growthSun (2020-2021)
In 2020, the cryptocurrency market experienced an unprecedented leap forward, with the number of cryptocurrencies soaring to 4,117. This remarkable expansion was driven by the COVID-19 pandemic, financial uncertainty, and the growing appeal of decentralized finance. However, the most notable growth occurred in 2021, when there were a whopping 7,557 cryptocurrencies. This explosive increase can be attributed to the mainstream acceptance of cryptocurrencies, institutional investment, and widespread adoption of blockchain technology.
Integration and Coordination (2022-2023)
Entering 2022, the cryptocurrency market has undergone changes. The number of cryptocurrencies continued to grow, reaching 9,310, but at a slower pace compared to previous years. The environment has become more integrated, with regulatory scrutiny, market coordination, and a focus on quality over quantity. In 2023, the number decreased slightly to 8,886, indicating a maturing market where projects are being evaluated more critically.
Max Coupland, Director of CoinJournal, said: “Looking back at the journey of cryptocurrencies over the past decade, it becomes clear that not only have markets suffered, but they have also reshaped the world of finance. The stage is set for continued evolution, adaptation and integration into the wider financial system. Cryptocurrencies, which have already left an indelible mark on finance, are certain to revolutionize our understanding of money and technology in the coming years.”