Over 600,000 New Cryptocurrencies Created in 2026, Mostly for Testing or Short-Term Attention

According to ChainCatcher, a report by Finbold states that, based on CoinMarketCap data, as of January 12, 2026, the total number of tracked cryptocurrencies reached 29.91 million, an increase of approximately 620,000 assets compared to 29.29 million on January 1. Over the past 30 days, more than 1.57 million new cryptocurrencies were added, and in just the past 7 days, 357,773 new tokens were launched. The report noted that the low cost of deploying a new token, along with tools that allow token creation without coding—often requiring only a wallet and minimal transaction fees—has contributed to the rapid growth in the number of tokens. Many of these tokens are created to test ideas or attract short-term attention, rather than to build long-term infrastructure. However, most of these assets experience sharp price declines shortly after launch, or fail due to insufficient liquidity, lack of utility, or waning interest.