The bearish market seems to have little effect on crypto developers as they keep introducing new tokens and altcoins to the space.
CoinGecko, a digital currency price- and information platform CoinGecko, now has a track record of 13,201 cryptocurrencies.
Although September was a difficult month for cryptos overall, their collective market capitalization is now valued at $986 million.
Bitcoin and Ethereum continue to dominate the crypto market, accounting for respective 38% and 16.3% of total cap.
These two leaders are always in the spotlight, but there are many other digital tokens not well-known that have recently joined the stack.
Crypto Quintet Accounts for $50 Billion in MC
On October 7, just four days following their initial listings, five new cryptos accounted for $50.75 Billion in market capitalization.
These “new entrants” didn’t have to wait for a long time to make a loud noise enough to turn heads in the ever-growing crypto sphere.
RIMAUNANGIS, (RTX), was the leader with its $27.8 million market capital. Tracking from CoinMarketCapThe NFT-focused digital asset traded at $13.89.
GOLCOIN, GLC and Joystick (JOY), ranked 2http://nd.3RdTheir fully diluted combined total value is $17.8billion and $3.29billion, respectively. GLC trades at $61, while the JOY gaming token trades at $0.65
The three cryptocurrencies are now joined by ELAN (electronic wallet) and Shihtzu Exchange tokens (STZU).
ELAN can be 4ThWith its cap of $1.04 trillion, STZU was at the bottom.
An Investor’s Quick Note
Investors are urged once more to exercise caution when dealing with new crypto assets, despite the growing popularity of cryptocurrency.
Many crypto investors were victims of pump-and-dump schemes over the years. These scammers have used them to make quick money.
Potential investors in different cryptos are strongly advised to do extensive research on the assets they intend to invest their funds for.
These fraudsters are more likely to profit from the fear of missing the opportunity (FOMO), of people and companies who place their hope on new tokens or projects that will replicate the success of early Bitcoin investors.
Crypto market capitalization at $907 billion| Featured image from Pro Bono Australia, Chart: TradingView.com