Topic: Is the crypto market saturated? (Read 1865 times)

It is a free market indeed. The decentralized and open source nature of crypto/Blockchain tech allows anyone to do anything from their hearts content. Exchanges are the ones who decide which coins get listed and which don't. The market will grow according to the number of coins and/or tokens listed by mainstream exchanges. As long as people pour money into a specific cryptocurrency project, it won't be going anywhere. Demand for crypto/Blockchain tech has made the market grow towards new heights. I wouldn't say that the crypto market is saturated as the industry has a long way to go before it reaches widespread adoption in the mainstream world. Eventually, people will choose the good coins from the bad ones. Projects that deliver constant development, innovation, and mainstream adoption, will survive in the long run.

Nonetheless, I believe that crypto is still in its very beginnings. There's a lot more to it than meets the eye. With every hype cycle, comes innovation. We may see a new influx of tokens on the market as a result of the "De-Fi" hype. Eventually, most crypto assets will fade into oblivion while only a few will dominate the market. As long as the crypto/Blockchain space remains decentralized, there should be nothing to worry about. Just my thoughts

Crypto market is like a new world for me, people can start their own project whatever they want and we will see more since there's less regulation here and hence the risk is really high. The old good days are good, we are not early investors anymore and this market has been saturated with scams, so it could give us a hard task in choosing the project to invest, thing to do is, we just need to be smart and has to understand the nature of the market.

Anyway, we can tell that majority are investing in bitcoin due to its high dominant rate, so we can say majority are safe when it comes to investment.

People do really miss that one out because they are really just seeing the external happenings or events which make them thought that DeFi is really getting big
but with those numbers in comparison then you can really tell that this wont really be having a chance to overtake but somehow
it do able to get some market recognition which is already a good one.

When it comes to saturation then this isnt something new.This is a free market and everyone could create their own but to know that only
the most relevant ones will really stay and the rest will just dump down and be ignored.

That is true. People are getting smarter each day as they become more involved in the crypto/Blockchain space. We may see a slight reduction in the number of scams because of this. However, there are still some people that don't care about getting scammed as they make decisions driven out of greed. As long as we have that kind of people, scams will continue to make strides in the crypto/Blockchain space.

Believe me, the crypto market would've been a lot smaller than what it is right now if people didn't patronize shady projects. Truly-legitimate cryptocurrencies are a "needle in a haystack" compared to the vast number of "useless coins" available on the market right now. Exchanges are willing to list any coin as long as listing fees are paid for. Due to the decentralized and open source nature of crypto, we should expect new projects to "pop up" every once in a while. Only those that are active in development, innovation, and provide real use cases for the mainstream world, will survive in the long run. Considering that crypto is still not heavily adopted in the mainstream world, it seems that the market is not as saturated as I've once thought it would be. We going to have to wait a little longer until the crypto/Blockchain space becomes mature enough to be able to determine the market's level of saturation. Just my thoughts

No, you have to understand that although De-Fi projects are increasing in popularity but their marketcap is still way lower compared to the marketcap of bitcoin and ETH which is the most popular in altcoins market.

Look here https://coinmarketcap.com/defi/.. the marketcap in total is only $34 Billion while bitcoin has over $500 billion and ETH with over $100 billion.
See the difference? There's really a big difference.

If it is full of junk projects, copy cats and scammers then doesn't it mean that it is saturated? I think the problem here is that most of the time, the people that get into cryptocurrency does not have a prior knowledge about it, some of them jump in and either get lucky or get screwed by a scam, those that get lucky are either learning or they are naïve to the point that they are hyping things that looks feasible in paper but couldn't really function in a real time application. I do agree that it has still a lot of room to expand, the problem is not the material, the real problem is the people and this people really knows how to put the blame on something or someone except for themselves, maybe if we were to up the education standard in the school's curriculum, we might be able to produce critical thinking people at best and at minimum, maybe a person that has a common sense.

I have to say people are getting wiser about the scams though, I have seen some new weird situation with people willingly going into scams and that is a bit funny. These days there are so many DeFi projects that offer like 50%+ daily return, which we all know is a scam and will crash for sure in just few days, but I have seen friends who check out new projects, see how much APY is promised, get in on the first seconds of it, and get out on the third day.

They do this as a group and they do this quite frequently with the money they are willing to lose, because they do not care about losing just few hundred dollars since they already made a lot more money than that from previous projects. Best one was putting 320 dollars into something and taking out 7 thousand dollars, they said there was never anything even remotely close to that but they got lucky, normally they do like 250 bucks in and 50-100 out for most, maybe 200-300 if they are lucky, but this one was just pure luck. So some people go into scams all willingly .

By the sheer number of cryptocurrencies out there, you could make this argument as there are hundreds or possibly thousands of coins/tokens that aren't even listed on Coinmarketcap yet.

The cream of the crop cryptos are far way ahead of everyone else and is easily distinguishable from those shitcoins, take for example eth and its smaller competitions. Ethereum has been the go-to testing ground for startup crypto projects that utilize smart contract functionalities and some of ethereum's offering.

With that being said, I usually switch between these coins as a quote currency or for holding long term as they have real world functionality or a good alternative for each other as a main currency for purchasing.

BTC
ETH
XRP
LTC
BCH

And some others such as Polkadot and the likes

Agree. People keep pouring money into scam projects with the ambitions of becoming rich in the shortest time possible. They don't care about doing a research before making an investment. This leads to many undesired losses in the long run. As long as there's money to be made, expect new cryptocurrency projects to pop up every once in a while. What ultimately matters is a project's usefulness above everything else. While most projects are pure speculation, there are some that are quite useful in the mainstream world. A select number of cryptocurrencies on the market will survive in the long run, while the rest will go down the drain. I don't think the market is saturated as the open source nature of crypto/Blockchain tech encourages developers to build projects of their own. The rate of which new projects are created shows us that the ecosystem is alive and healthy than ever. People will ultimately decide which cryptocurrencies will stay and which will fade into oblivion.

Nonetheless, time will tell us the fate of the crypto market as new regulations are devised by mainstream governments. Considering that centralized exchanges dominate the industry, it's easy enough for governments to control the rate of which new cryptocurrencies are listed. This should settle things a bit, bringing a certain level of confidence to institutional investors. I wouldn't worry about new cryptocurrencies being created as long as Blockchain tech remains decentralized and open source. Just my thoughts

Partly it's our fault also, given that some are scammers who takes our money only, but there are also projects which are ambitious, they are legit but unfortunately they failed, if we didn't believe in them, we would not participate in the crowdsale, but we did and they failed so we loss money.

We need to determine which are legit or scam projects, a failed project does not automatically mean scams.

Couldn't agree more with you, mate. It's not about speculation, but rather utility. And the crypto market is full of worthless cryptocurrencies that bring no real use cases for the mainstream world. Most developers create a project in order to fill their pockets with money. They don't care about bringing true value to the project, forcing people to look for the next big thing in crypto.

Ultimately, Bitcoin, Ethereum, and a few other cryptocurrencies will remain on the market while the rest will go down the drain. It's normal to see many projects emerge, as the industry is decentralized and open source. As long as developers pay listing fees for their own cryptocurrency project, you'd expect the market to grow at an exponential rate. Only quality projects with active development, innovation, and real use cases for the mainstream world will be able to stand the test of time. Whenever the crypto market is saturated or not, that totally depends on the investor or trader's perception about it. The vast number of cryptocurrencies being traded on the free market, brings a huge opportunity for profit. With ample regulation on the crypto/Blockchain space, the rate of which new cryptocurrencies are listed will decline by a large margin. Just my opinion

oh so u might be interesting in new stablecoin dex - xsigma, they even

It is not saturated, it is just full of junk projects, copy cats and scammers who don't bring any extra value to what Bitcoin or Ethereum are already offering.
I'd say that the crypto "market" still has massive room to expand. Think about the infinite amount of dapps and services you can build using cryptocurrencies especially in the financial services sector.

not sure the market is saturated - i think a lot of cryptocurrencies on coinmarketcap are shitcoins, and a lot of nice (and not nice) defi tokens are coming to the market and transforming everything

That's certainly true, mate. Not all that glitters is gold. Most developers come up with catchy names in order to attract people into their projects. At the end of the day, they leave with the money as they abandon the project altogether. Investors will be mostly affected when developers "close up shop" in a relatively short amount of time. As long as crypto/Blockchain tech remains decentralized and open source, expect to see new projects "popping up" every once in a while.

No matter how many cryptocurrencies are created and listed on the market, only a select few will survive for generations. I'm talking about tried-and-tested cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Wise investors will always choose these cryptocurrencies above anything else, as they have a proven track record of development and innovation. Usability is what matters in order to maintain demand of a crypto asset on the market. I wouldn't worry about the market expanding over time as long as it benefits the industry in its entirety. Just my thoughts

I think we are mistaking interesting and investment worthy as the same thing. You might find a altcoin interesting but this is a vague term to use when talking about investing. The project might give out some points that piques your mind but these are methods to attract investors too.

There are several projects which have been vaporware as well. Again the idea of havig one coin only in the portfolio might seem boring - this is also predated by many exchanges and projects to pitch themselves. So be careful about those.

I'm investing on bitcoin but does not rely on that coin only, I have my altcoins as well though my big exposure is on bitcoin. Bitcoin only is boring IMO, there are lots of interesting altcoins which we can invest, so I guess we should also not missed that opportunity.

It has been analyze that showcase has been immersed since there are numbers of crypto ventures made nearly ordinary but numerous had too been windup. This implies that we are still distant from getting into that stresses that sooner or afterward we got encompassed as it were by these shits ventures. We can't halt these individuals from making ventures once more and once more. Since they all still be gone within the future and as it were solid ventures will keep lively and as it were the ventures that speculators can accomplish.

The bad projects will never be eliminated completely. This is a difference from the stock market that has been a thorn on the crypto market. We see so many projects here do so many things. But 99% are failures. Whatever sugarcoated stuff they say in the first, it all ends up with very low price and useless tokens which cannot be spent anywhere.

So yes that type of saturation does exist and bad project keep on coming.

My suggestion is to follow bitcoin only. Because it is what is going to be big in future.

Try to look in most projects in the market today specially into those low ranking coins in CMC. Do you actually able to know about its relevance or their actual usage?

You cant really spot it out and i do only recognized only top 10 on rankings which does have their own relevance or actual usage not on just mimicing or using up
other projects blockchain or platform and serve would some other idea or niche.

This is why its really just hard to trust to those projects.