Over 2000 Cryptocurrencies on coinmarketcap

[Munareal]

Currently, there are over 2000 cryptocurrencies captured on coinmarketcap out of which 80% are shitcoin with more created by the day. Do we need this much crypto coins?

[Rektymz]

actually it is necessary, depending on how we choose the altcoin that can make us profitable, that's all I say.

[altcoingamer]

It kind of depends on perspective... in a bear market do you really want 2000 tokens fighting over what little liquidity we have?  The answer is obviously not... and some projects do things that have no business being on blockchain which probably represents at least half of all projects.. but the flipside is I'm fine with there being 20-25 smart contract blockchain platforms... I'm fine with there being several for IOT, supply chain, etc because each project type needs healthy competition.  So its kind of a balancing act.

[Chomzzy]

The exponential growth of cryptocurrency in recent times coibe tied to the fact that many people are getting involved in crypto.
And this brought about the choice issue.

[Nate11]

The Cryptocurrency market is really growing but investors/traders seems to be having a hard time choosing what Cryptocurrency to buy or hold.