Thousands of Crypto Projects Launched in 2022: Surprising Number of Projects Despite Bear Market

The year 2022 has been quite challenging for cryptocurrencies. High inflation around the world has pushed central banks to take action. Tight monetary policies adopted by central banks attracted money to deposits. On top of that, when factors such as regulation discussions and the Ukrainian-Russian war were added, the pressure on the crypto markets did not decrease.

Despite the challenging conditions of the market, blockchain developers continue to prepare new projects without caring about crypto prices.

crypto tracker CoinMarketCap According to data, 5,300 different cryptocurrencies have been launched so far in 2022. Total in the blockchain universe cryptocurrency number reached 21,555.

Total in the crypto universe coins The number was exactly 16,238 at the beginning of 2022. This increase means that the number of cryptocurrencies has increased by 32% in one year. From the developers’ point of view, the future of the industry is more important than the instant price.

Why Are New Cryptocurrency Projects Being Produced While The Market Is Falling?

The software industry continues to grow day by day. One of the priority areas affected by the growing industry is blockchain. While the blockchain industry is not even a quarter century old, developers want to seize opportunities in this field. Despite the falling price of cryptocurrencies, adoption continues to increase.

For example, two years ago, it was a very silly idea for a cryptocurrency to become the official currency of any country. However bitcoin, today one of the official currencies of the Central American country of El Salvador. It is quite clear that blockchain technology and cryptocurrencies will also exist in the future.

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