Total number of cryptocurrencies increased by 58 %
By May 2023, there will be 9,182 different cryptocurrencies, according to crypto insiders. The number of cryptocurrencies worldwide has doubled, reaching a peak of 10,894 cryptocurrencies in July 2022. Since then, the number has decreased.
Cryptocurrencies seem to have gained further popularity: According to a count by the platform Cryptomonday.de, 9182 different currencies are available in May 2023. Bitcoin remains the most popular, followed by Ethereum. The total market capitalization for cryptocurrencies is $1.14 trillion, with Bitcoin dominating at 46.40 %. Because the cryptocurrency market is so unpredictable, its market capitalization also fluctuates frequently. But Bitcoin's dominance remains a constant.
The most popular cryptocurrency is Bitcoin
The value of the Bitcoin market far exceeds that of all other cryptocurrencies. Bitcoin's success is also due to the fact that it is the first cryptocurrency ever created. However, Bitcoin is not necessarily the best cryptocurrency available, even though it has the highest market capitalization and offers huge returns, writes Cryptomonday.de. The "best" cryptocurrency is a difficult question to answer anyway, it adds. Each project has its own advantages and disadvantages as well as its own community. Therefore, the only criteria for an objective evaluation are the price development and the market capitalization.
In 2023, there will be a total of 77,405 Bitcoin addresses with more than one million US dollars
However, this does not necessarily mean that there are a large number of Bitcoin millionaires, according to crypto insiders. This is because one person can own multiple addresses or multiple people can share one address. The number of addresses with more than $1,000,000 has decreased by about 40,000 since last year. In 2021, there were still 116,139 addresses. In addition, there are a few addresses for other digital currencies with assets worth at least $1,000,000. However, since Bitcoin is the best known and most significant cryptocurrency, greater attention is paid here to the total number of addresses.
In Switzerland, cryptocurrencies are comparatively widespread
In Germany, 10 % of people own cryptocurrencies. This shows that investing in cryptocurrencies is not yet very widespread in our northern neighbor. In contrast, more than 15% of Germans own stocks or exchange-traded funds (ETFs). In other countries, various cryptocurrencies are already much better known. The frontrunner is South Africa. There, 22 % of the population, or one in five, use or own cryptocurrencies. In South Korea (17 %), Switzerland (17 %) and India (18 %), cryptocurrencies are also widely used. Some countries, such as El Salvador, allow their residents to use cryptocurrencies such as Bitcoin as an accepted form of payment.
Source: Cryptomonday.com
