Number of digital currencies having a market valuation of over $1 billion will fall by 55% In 2022
As the cryptocurrency industry continues to struggle with the volatility that has reduced its market capitalization by roughly $1.27 trillion since the beginning of the year, the number of cryptocurrencies with a market value of over $1 billion has dropped dramatically.
According to the statistics gathered from CoinMarketCap on September 26, there were 53 digital assets, including Bitcoin (BTC), with a market capitalization exceeding $1 billion at press time, compared to 118 on January 1, 2022.
In other words, the number of crypto tokens with a market capitalization of more than $1 billion has decreased by 55.08 percent since the beginning of the year, as revealed by Finbold by merging current CoinMarketCap data with a web archive tool.
In mid-September, the global cryptocurrency market lost $165 billion in a single week – between September 12 and September 19 – falling to a two-month low, while its market valuation has decreased from $2.19 trillion to $925.4 billion since the beginning of the year.
In the three months after June 20, however, the overall number of cryptocurrencies increased by 5.44 percent, from 19,938 to 21,022 as of September 20, while the number of crypto exchanges decreased by 3.41 percent, according to statistics.
Moreover, according to a recent estimate, retail investors in the United Kingdom have invested around $34.7 billion in cryptocurrencies so far, despite the fact that 34% of the country’s population owns various cryptocurrencies. Bitcoin is presently trading at $19,069, representing a daily increase of 0.05% and a weekly rise of 1.53%.