The number of cryptocurrencies listed on CMC is approaching 11 million, and the meme coin craze has eliminated the speculative premium of technology altcoins

Odaily News The total number of cryptocurrency tokens listed on CoinMarketCap is approaching the 11 million mark, with more than 10.99 million different digital assets currently listed. The sharp increase in new token issuance in 2024 and early 2025 was mainly driven by the launch of Meme coins on the Solana chain.
Some analysts believe that meme coins have siphoned mindshare away from tech altcoins and eliminated the speculative premium the sector once enjoyed. This proliferation of new tokens has raised concerns among traders and industry analysts that millions of new tokens competing for limited attention in an already saturated market will have a corrosive effect.
Market analyst Ali Martinez recently predicted that the number of tokens competing for limited capital and investor attention will hinder the arrival of the altcoin season. Martinez estimated that there are more than 36 million altcoins in existence, compared to less than 3,000 during the 2018 cycle and less than 500 during the 2013-2014 period. "With such a large supply, the market has changed dramatically." (Cointelegraph)