

Ritesh
Updated · May 28, 2023
As a cloud architect at McKinsey with experience handling Fortune 500 clients, this individual has c... | See full bio
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.
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.
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:
Month |
Year |
Number of Cryptocurrencies |
January |
2014 |
67 |
January |
2015 |
501 |
January |
2016 |
572 |
January |
2017 |
636 |
January |
2018 |
1,359 |
January |
2019 |
2,086 |
January |
2020 |
2,403 |
January |
2021 |
4,154 |
January |
2022 |
8,714 |
January |
2023 |
8,856 |
(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:
Rank |
Currency Abbreviation |
Price (2 d.p.)* |
Market Cap |
1. Bitcoin |
BTC |
$134.21 |
$1.49 billion |
2. Litecoin |
LTC |
$4.35 |
$74.64 million |
3. Peercoin |
PPC |
$0.39 |
$7.25 million |
4. Namecoin |
NMC |
$1.11 |
$6.00 million |
5. Terracoin |
TRC |
$0.65 |
$1.50 million |
6. Devcoin |
DVC |
$0.0003 |
$1.42 million |
7. Novacoin |
NVC |
$4.25 |
$1.16 million |
(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.
(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:
Bitcoin |
$406 million market cap increase |
Litecoin |
$37 million market cap increase |
XRP |
$202 million market cap increase |
Bitshares |
$39 million market cap decrease |
Dogecoin |
$10 million market cap decrease |
Peercoin |
$6 million market cap decrease |
Dash |
$1 million market cap increase |
The most notable newcomer to the top ten was Ethereum, with a market cap of $65.98 million.
(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:
Bitcoin |
$14.59 billion |
Market cap increase of 2.5x |
Ethereum |
$638 million |
Market cap decrease of 8x |
Ripple |
$232 million |
Market cap increase of 1.1x |
Litecoin |
$212 million |
Market cap increase of 1.5x |
Monero |
$134 million |
Market cap increase of 28x |
Ethereum Classic |
$91 million |
Market cap increase of 2x |
Dash |
$71 million |
Market cap increase of 4.5x |
(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.
(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:
Rank |
Currency |
Abbreviation |
Price (2 d.p.) |
Market Cap |
1 |
Bitcoin |
BTC |
$3,865.95 |
$67.48 billion |
2 |
XRP |
XRP |
$0.37 |
$15.08 billion |
3 |
Ethereum |
ETH |
$139.86 |
$14.56 billion |
4 |
Bitcoin Cash |
BCH |
$163.62 |
$2.87 billion |
5 |
EOS |
EOS |
$2.68 |
$2.43 billion |
(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.
(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:
(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.
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:
(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.
(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.
India |
100.7 million crypto users |
The United States |
27.5 million crypto users |
Nigeria |
13 million crypto users |
Vietnam |
6 million crypto users |
The United Kingdom |
3.4 million crypto users |
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.
(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.
Rank |
Currency |
Abbreviation |
Price Market Cap |
1 |
Bitcoin |
BTC |
$480.23 billion |
2 |
Ethereum |
ETH |
$206.85 billion |
3 |
Tether |
USDT |
$73.26 billion |
4 |
BNB |
BNB |
$48.63 billion |
5 |
USD Coin |
USDC |
$39.48 billion |
6 |
XRP |
XRP |
$18.88 billion |
7 |
Cardano |
CAR |
$11.92 billion |
8 |
Polygon |
MATIC |
$10.16 billion |
9 |
Dogecoin |
DOGE |
$9.6 billion |
10 |
Cinance |
USD BNSO |
$8.38 billion |
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.
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.
Bitcoin is the market leader, followed by Ethereum and Tether. Tether is another popular cryptocurrency used by many.
The four common cryptocurrency types are Payment cryptocurrency, Utility Tokens, Stablecoins, and Central Bank Digital Currencies (CBDC).
Nearly a million people own Bitcoin. Due to its growing use, financial market enthusiasts also like Bitcoin for payments, money transfers, and smart contracts.
AiDoge could be 2023's next big cryptocurrency. This innovative initiative uses AI to help users create clever memes with no effort.
Top cryptocurrency rankings will keep changing. Altcoins sometimes overtake new currencies like Bitcoin. D2T, IMPT, TAMA, and RIA will rise in 2024, according to experts.
Aditya Rayaprolu
As a cloud architect at McKinsey with experience handling Fortune 500 clients, this individual has comprehensive expertise in cutting-edge technologies and tools such as cloud computing, virtualization, network security, data storage, and disaster recovery. They have a wealth of experience in creating and executing virtualization solutions for both on-premise and cloud-based systems, with a primary focus on enhancing efficiency, dependability, and security.
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