The Total Number of Cryptocurrencies Approach 20K

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Despite the significant crypto industry slump, developers appear undeterred in their efforts to introduce new digital tokens into the market.

According to CoinMarketCap data, 3,674 new cryptocurrencies were created in 2022 alone, an increase of 22%.

As of June 17, nearly 20,000 new cryptocurrencies had been created, standing at 19,911, nearly approaching a record.