According to coinmarketcap.com, 800 crypto currencies have so far been created. Coinmarket.com tracks the market activity of these digital coins, including their prices, volume, and Market Capitalization. The website also identifies new Currencies that have been introduced into this market. Despite having many such currencies in the cryptocurrency market, only a handful are relevant. Recently added coins according to coinmarketcap.com include Bolenum, 0x, Health Care Coin, The ChampionCoin, Excelcoin, and Timereum. 22 cryptocurrencies have been introduced in the past seven days, according to the website.
The new crypto currencies
The new currencies have little or unknown market capitalization, as well as coin supply. For example, the market capitalization and supply for Excelcoin that was recently introduced is still unknown. Temereum's market capitalization is $132,000, while only 7.4 million Timereum coins are in supply. The prices of new coins are also low and all their prices are below $1. A low price may have been introduced to attract new buyers. There is very little information on the creator of new cryptocurrencies and this puts buyers of this currencies at a disadvantage.
Regulation of these digital coins
Regulation would ensure that scammers do not take part in the introduction of new coins.
Regulation would also ensure that the number of cryptocurrencies being introduced is minimized, this will make sure that only popular currencies operate. Regulation of cryptocurrencies would be difficult as creators of crypto currencies can originate from any part of the world. The development and use of crypto currencies are also done online and thus making regulation difficult.
Regulation would also ensure that scammers do not exploit cryptocurrency market players.
The leading crypto currencies
According to coinmarketcap.com, Bitcoin's market capitalization is $73 billion. Bitcoin commands 50 percent of the cryptocurrency market capitalization. In mid-2013, it controlled 95 percent of capitalization.
A reduction in its market share may have been as a result of rising number of cryptocurrencies being induced and rising prices of other cryptocurrencies. Ethereum comes second with 20 percent. Other leading cryptocurrencies by market capitalization are Ripple, Bitcoin cash, and IOTA. It would thus be difficult for new coins that are being introduced to reach the market level of cryptocurrencies that are currently commanding the crypto currency market.
