How Many Cryptocurrencies Are There In 2023?

There are around 22,904 types of cryptocurrencies in existence as of March 2023. It is crucial to remember that this number is continually changing as new cryptocurrencies are generated, and some older ones become inactive or delisted.

Additionally, it’s essential to recognize that not all cryptocurrencies are valued or used similarly, with some having a low market capitalization and limited usage.

Keep reading below to learn how many cryptocurrencies are for use and trading this 2023.

Editor's Choice

• There are 22,904 cryptocurrencies as of March 2023, but not all are active or valued.
• As of the moment, there are 300 million cryptocurrency users worldwide.
• Despite Bitcoin's $5.13 billion valuation, only Litecoin and Peercoin made the top ten.
• Bitcoin is worth more than $5.5 billion, while XRP, the second-largest cryptocurrency in November 2014, is worth $144.18 million.
• Bitcoin rose over 100% to $376.05 in 2014, and over 76,000 merchants worldwide accepted it as payment.
• Bitcoin’s value nearly tripled in November 2015, reaching a three-year high of over $900.
• In 2017, Ethereum's market value rose more than 1000% to $7.2 billion, and XRP's rose $232 million to $1.96 billion.
• Bitcoin’s market capitalization surpassed $100 billion at the end of 2019, reaching $134.57 billion.
• Bitcoin has a market valuation of $470 billion, more than twice that of Ethereum.

How Many Cryptocurrencies Exist in 2023

There are around 8,832 active cryptocurrencies, excluding inactive ones. There are also 300 million cryptocurrency users worldwide, and over 18,000 businesses accept cryptocurrency as payment.

Cryptocurrency Industry Growth Statistic

Bitcoin has seen a spike in popularity and continued expansion in less than ten years. In the next section, we will highlight some important examples of its significant growth by presenting glimpses of the decentralized finance terrain at various times.

Here’s an overview of the total number of cryptocurrencies recorded from 2014 to the present: 

1. In April 2013, Coin Market Cap only supported 7 types of Cryptocurrencies.

(Exploding Topics)

Regarding market capitalization, Bitcoin was the most valuable cryptocurrency, about 20 times that of any other cryptocurrency accessible. To reiterate, roughly ten years ago, the Bitcoin market was in this condition:

2. There were 513 different types of cryptocurrencies accessible in November 2014.

(Exploding Topics)

Although Bitcoin remained the market leader, with a market valuation of around $5.13 billion, only two other cryptocurrencies, Litecoin and Peercoin, reached the top ten list.

The remaining seven cryptocurrency coins were replaced by XRP and Dogecoin, which have market capitalizations of $346.22 million and $23.30 million, respectively. In 2014, the value of Bitcoin increased by more than 100% to $376.05, and it was accepted as payment by over 76,000 retailers worldwide.

3. 564 cryptocurrencies existed in November 2015, despite the industry’s stagnation.

(Exploding Topics)

The market value of Bitcoin has risen to more than $5.5 billion. In contrast, the market capitalization of XRP, the second-largest cryptocurrency in November 2014, has decreased to roughly $144.18 million.

Seven of the top ten cryptocurrencies by market capitalization in November 2014 remained in the top 10 yearly. Here is the cryptocurrency list:

The most notable newcomer to the top ten was Ethereum, with a market cap of $65.98 million.

4. There were 663 cryptocurrencies available for trading by the end of 2016.

(Exploding Topics)

Bitcoin’s value nearly tripled in November 2015, reaching a three-year high of over $900. Here are the cryptocurrencies that saw the most significant increases in market capitalization that year:

5. The number of traded cryptocurrencies has climbed by 126 since April 2017, totaling 789.

(Exploding Topic)

In 2017, Ethereum’s market capitalization increased by over 1000% to exceed $7.2 billion. XRP’s market capitalization increased by approximately $232 million to $1.96 billion.

Nonetheless, cryptocurrency faced several challenges that prevented it from gaining widespread acceptance, and these challenges continue to exist today.

6. There were 2,073 cryptocurrencies available by the end of 2018.

(Exploding Topics)

Due to the success of blockchain technology and the different applications of coins, the number of digital currencies expanded dramatically after a year, resulting in continued market expansion. 

By the end of 2018, around 2,073 were available, with 12 of them having a market capitalization:

7. In November 2019, there were about 3,000 cryptocurrencies.

(Exploding Topics)

However, due to carrying inclusion criteria, other sources claimed the figure of active cryptocurrencies is sometimes defined by trading volume and market capitalization.

Bitcoin’s market capitalization surpassed $100 billion at the end of 2019, reaching $134.57 billion. Despite this, only nine cryptocurrencies had a market capitalization of more than $1 billion.

8. By 2020, 28 cryptocurrencies had over $1 billion market values.

(Exploding Topics)

Despite the pandemic, the number of new cryptocurrencies entering the market has increased, with reports estimating that approximately 5,392 were exchanged as of April. 

The combined market capitalization of the top ten cryptocurrencies is approximately $200 billion, with Bitcoin alone accounting for more than $140 billion.

Four cryptos that exceeded $10 billion in market caps:

• Bitcoin - $488.21 billion
• Ethereum - $77.83 billion
• Tether - $20.73 billion
• XRP - $12.85 billion

9. There are currently 22,904 cryptocurrencies in circulation in the year 2023.

(Exploding Topics)

Many of these require activation or are rendered completely useless. In 2023, digital cash has become more apparent than in any previous year. 

• Bitcoin - the market leader and first cryptocurrency
• Altcoin - Alternatives to Bitcoin but not the same as Bitcoin
• Tokens - using pre-existing blockchains

Cryptocurrency Usage Statistics

The survey statistic on cryptocurrency usage in 2021 revealed that the typical individual who owns cryptocurrency is a 38-year-old Caucasian male with a yearly income of $111,000.

However, cryptocurrency ownership varies by user, cryptocurrency type, and country. Here are the usage statistics of cryptocurrency today:

10. 71% of the total crypto users are white, and 74% are male.

(Expanding Topics)

The average age range of crypto users is between 25-44 years old. 63% of those who installed Bitcoin are “crypto-curious, while 53% of those crypto-curious users are female.

This shows that cryptocurrency is not a male-dominated area of currency but a diverse option for many users.

11. Top 5 Countries by Cryptocurrency Usage

(Expanding Topics)

The following countries are the major cryptocurrency users. Most use it for exchanges and transactions such as goods exchange, online shopping, and gaming.

Cryptocurrency Trends Statistics

Over the last ten years, numerous digital currencies have gained widespread recognition. Bitcoin is the most prominent among them, boasting a significantly larger market capitalization than its competitors.

Let’s discuss the statistics of cryptocurrency trends and cryptos available today.

12. There are 20 cryptos today, but only 10 top the $8.38 billion to $480.23 billion market cap.

(Expanding Topics)

Bitcoin presently has a market capitalization of more than $470 billion, more than twice that of its nearest competitor, Ethereum. 

When Bitcoin and Ethereum are combined, their market capitalizations are over three times greater than the remaining top 20 cryptocurrencies.

How Many Cryptocurrency Exchanges Are There?

It is observed that the growth in the number of cryptocurrencies has led to a corresponding rise in the number of cryptocurrency exchanges. At present, there exist 569 exchanges as of March 2023.

Final Words

That wraps up the state of cryptocurrency. In the cutoff in September of 2021, there were over 11,000 cryptocurrencies in existence. However, it’s important to note that the number constantly changes as new cryptocurrencies are created. Some older ones become inactive or delisted from exchanges. 

It’s also worth noting that not all types of cryptocurrencies are equally valuable or widely used, with some having minimal market capitalization and limited adoption.