Decrease in New Token Applications in 2022

02/16/2023 15:17 • Daily Digest • 94 views

On February 16, according to CoinMarketCap data, the number of new Token applications has dropped from 10264 in the first quarter of 2022 to 6350 in the fourth quarter. So far this year, there are only about 3000 new Token applications.

Data: The number of new Token applications for CoinMarketCap has declined for four consecutive quarters

Interpretation of the news:

The latest data on CoinMarketCap suggests a significant decline in the number of new Token applications from the first quarter to the fourth quarter of 2022. The statistics show that the number of applications went down from 10264 to 6350. Moreover, there has been a sharp drop in the current year, with only about 3000 new Token applications so far.

One possible interpretation of this trend is that the crypto market is becoming more discerning and selective in its adoption of new projects. The sheer volume of Token applications seen in the first quarter of the year may have been unsustainable, and investors may now be looking for more substance and quality in the new offerings.

Another interpretation could be that the hype and momentum of the crypto craze have begun to wane, leading to fewer new projects being developed. The market may now be nearing a point of saturation where there is simply not enough demand to justify the creation of more Tokens.

Additionally, the increased regulatory scrutiny in many countries might also be contributing to the decline in new Token applications. The authorities have been clamping down on fraudulent and non-compliant projects, leading to a more cautious approach by investors and developers alike.

In conclusion, the data shows that the number of new Token applications has decreased significantly over the course of 2022. While there may be various factors at play, it seems that the market is becoming more cautious and selective in its adoption of new crypto projects. This trend may continue, as the market continues to mature and investors demand more substance and quality from new offerings.

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Decrease in New Token Applications in 2022

Data: The number of new Token applications for CoinMarketCap has declined for four consecutive quarters

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