If we look at the data on coinmarketcap it will appear about 10 to 30 new listed coins, this makes the current number of cryptocurrencies more than 15k, but I'm sure only 10% can last up to a year due to intense competition so only projects that have good financial strength who can survive.
It's true that new projects keep popping up, but few are really good and have a clear function. In fact, I think 99% of the new projects that appear
end up being shitcoins, most of them are copycat from previous projects. I have invested in new projects several times, but have been stuck in these
new projects for a long time, because it was too late to sell them. Most new projects will usually pump very high once they are first listed on exchanges,
but after that it will fall very fast and take a very long time to recover again. Therefore, for now, I am not really interested investing in new projects.
I prefer to invest in old projects which are included in the top 10 cryptocurrencies.