Over 700 new cryptocurrencies and 30 crypto exchanges emerged in March 2022

3 months ago
2 mins read

The cryptocurrency industry isn’t just growing in terms of its market capitalization, which has recently reclaimed the $2 trillion mark, but also in new digital assets and crypto exchanges joining the space, as well.

Using a web archive tool, Finbold was able to determine that, on March 1, 2022, the number of crypto assets was 17,869. At the same time, there were 458 crypto trading platforms, based on the obtained data.

The total number of digital assets and crypto exchanges, March 1, 2022. Source: CoinMarketCap/Wayback Machine

By comparison, the number of digital assets stands at 18,597 and exchanges at 489, as of March 30, 2022, according to the CoinMarketCap statistics analyzed at press time. 

This indicates that in March alone, the crypto market has grown larger by as many as 728 new cryptocurrencies and 31 crypto exchanges, representing a 4.07% and 6.77% increase over the month, respectively.

The total number of digital assets and crypto exchanges, March 30, 2022. Source: CoinMarketCap

On average, about 24 new cryptocurrencies and one crypto exchange were introduced on a daily basis since the beginning of the month.

Continuous expansion of cryptocurrencies

The newest increase adds to the constant expansion of the number of cryptocurrencies in the spirit of 2021, the year in which more of them emerged than ever before.

As Finbold earlier reported, over 1,000 new digital assets emerged in the sector in January 2022 alone.

On top of that, more than 8,000 new crypto assets were added between January 1 and December 31, 2021, representing the total annual growth of the market by 98.98%, or almost double that of the year before. 

The global crypto market cap

As things stand, the total crypto market capitalization is on an upward trend, pushed by the major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), and seems to be getting closer to the $2.26 trillion reached on December 31.

Global crypto market cap 1-month chart. Source: CoinMarketCap

At press time, the total market cap stood at $2.14 trillion, representing an increase of 24.41% over the month, and 11.45% from seven days ago.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.