The massive rise in the crypto market is absent, with a surge in new tokens and new chains leading to dispersed liquidity.

In January, the crypto market added 600,000 new tokens, which is 12 times the monthly increase of 50,000 tokens from 2022 to 2023. The acceleration in token creation began in the fourth quarter of 2024, with the monthly addition reaching 400,000, then jumping to a record level of 600,000 in January.

Blockchain networks and DEXs are also rapidly increasing. Data shows that around 5 to 10 new chains go live each month, with a record high of 17 new chains added in May 2024.

The explosion of token varieties and the number of blockchains may lead to dispersed liquidity. "There are too many tokens, and each token divides the limited attention and liquidity of traders. This is why we haven't seen a significant large-scale rise like in previous cycles." #加密货币普及