A crypto debate is heating up over the huge number of tokens hitting the market. Widely followed crypto commentator “Lady of Crypto” expressed concerns about the number of unproductive crypto assets in circulation.
Binance founder Changpeng Zhao (CZ) joined the conversation by stressing that innovation sometimes needs failure to succeed. He referenced Amazon’s rise, saying trial and error helped the e-commerce giant succeed.
In a post on X, Lady of Crypto drew attention to the large volume of low-value tokens in the crypto space. “99.9% of cryptos should not exist. I hope they don’t come back after we recover,” she wrote, referencing what many see as excessive market clutter.
Her statement echoes growing frustration over the number of inactive, scam-related, or redundant coins cluttering major exchanges and databases.
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What’s CZ’s Take on This Token ‘Clutter’?
CZ acknowledged the concerns but framed them as part of innovation’s necessary trial-and-error process. He stressed that progress in new fields like crypto inevitably includes setbacks, failures, and even scams.
He compared it to early e-commerce, noting failures there helped Amazon succeed. “Without other companies failing in e-commerce, Amazon might not be where it is today.”
According to him, the survival of quality projects over time will naturally filter the market. “Positive force will win in the long run,” he added.
Just How Big is This Token Flood?
The scale is immense: CoinMarketCap tracks over 13.83 million crypto assets, though many show little activity or are abandoned. The creation pace is also rapid.
In the past day, no fewer than 115,408 tokens have been launched, bringing the weekly figure to 534,270 tokens. In the past month, 1,678,747 tokens have been launched, echoing Lady of Crypto’s sentiment.
Solana Dominates New Crypto Projects with Over 60% Market Share
CoinMarketCap also reveals that Solana is the dominant blockchain for newly created cryptocurrencies, commanding a staggering 62.31% market share. This places it far ahead of competitors like Base (16.08%) and Binance Smart Chain (13.90%).
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Ethereum, once the industry leader in decentralized app development and token creation, has seen its share plummet to just 3.29%, ranking fourth. Meanwhile, SUI and other chains collectively account for less than 5%. The data signals a major shift in developer preference, with Solana becoming the chain of choice for launching new digital assets.
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