CoinGecko co-founder: The crypto market created 600,000 new tokens in January, setting a historical record

Odaily News CoinGecko co-founder Bobby Ong recently published an article on X stating that in 2022-2023, about 50,000 new tokens will be created per month in the crypto market, 400,000 new tokens will be created per month in the fourth quarter of 2024, and a record of 600,000 new tokens will be created per month in January 2025. It has grown 12 times in just over a year. The driving factors include the emergence of token incubation platforms like pump.fun, the reduction of coin issuance resistance, the increase in tokenization adoption, and the Meme coin craze.
At the same time, blockchain networks and DEX are also booming:
-5-10 new blockchains launched every month (mainly EVM);
- In May 2024, 17 new blockchains were added in one month;
- DEXs continue to increase, with 89 new blockchains tracked in March 2024;
-No signs of slowing down.
At this rate, 1 billion tokens will be created in the next 5 years.
Responding to concerns about the market impact, Ong acknowledged the potential drawbacks: “There are too many tokens, and each one distracts traders from their limited attention and liquidity. That’s why we haven’t seen the same massive surges as in previous cycles.”