The cryptocurrency market closed 2024 on a high, with major tokens reaching new milestones and rising adoption driving trading volumes close to 2021 levels. The bullish momentum from last year shows no signs of slowing, paving the way for more records in 2025.
Data from CryptoPresales.com reveals that the total number of cryptocurrencies has surged to an all-time high of 10,700, surpassing the previous record set in 2022 by 300. This growth reflects increasing innovation and investor confidence in the expanding crypto landscape.
Nearly 800 New Digital Coins Launched in the Past Two Months Alone
Ever since the crypto boom in early 2022, the total number of cryptocurrencies has been floating between 8,500 and 10,000, with hundreds of new tokens launched every time a bull run starts. The 2024 rally was no exception, triggering a wave of new launches which culminated in last week’s historic high.
According to data from Investing.com, which tracks the number of cryptocurrencies, the year began with 9,024 cryptocurrencies. By the end of June, that number had jumped to over 10,000, a milestone last seen in February 2022. Statistics show that September, October, and November saw similar numbers, with the total number of digital coins fluctuating between 9,800 and 10,000. But with crypto prices soaring and investors` confidence rising, new token launches speeded up, pushing the tally to over 10,300.
The strong momentum carried into the first weeks of 2025, fueled by optimism over potential crypto-friendly policies under President Donald Trump. Statistics show the total number of cryptocurrencies hit an all-time high of 10,728 on January 22, which is 330 more compared to the previous peak of 10,397 set in February 2022. Also, that means nearly 800 new cryptos were introduced in the past two months alone, representing 60% of the total increase seen throughout 2024.
Top 10 Coins Command Nearly 90% of Market Value
Although the number of cryptocurrencies skyrocketed to an all-time high, the proportion of the highest-valued coins remained the same. The CoinMarketCap data shows that the top ten highest-valued digital coins command 88% of the crypto market’s total value as of last week, a slight rise from December’s 86.5%.
Bitcoin remains the biggest contributor, with a 57% market share as of last week, up 1% month-over-month. On the other hand, Ethereum saw its share dip from 13% to 11% between December and January. XRP, Tether, and Solana follow with 5%, 3.8% and 3.6% market shares, respectively. Meanwhile, BNB, Dogecoin, USDC, Cardano, and TRON collectively account for 7.2% of the market.