U.S. stocks and gold are both trading sideways at high levels, but the crypto market is trading sideways at the bottom!
If U.S. stocks later collapse because the Federal Reserve hikes rates in September, does the crypto market have to go into the basement?
There are many reasons for this. One interesting one is that there are simply too many cryptocurrencies right now:
The total number has exceeded 50 million, and there have been 120 million deployed on-chain. That means 70 million have effectively gone to zero; On only the Pump platform alone, between January 2024 and June 2026, 18.67 million tokens were issued, and 80% of them “died” within 24 hours.
Cryptocurrencies with real trading volume are probably around 17,500, and the number of tradable coins deployed on Uniswap has already exceeded 14.4 million.
Compared with history: for the second halving in 2016, there were 700 coins; for the third halving in 2020, there were 6,000 coins. In 2024, the halving saw 3 million—this also explains why this halving’s bull market has been so underwhelming. There are too many monks and too little porridge!
For comparison: the number of individual stocks in global equity markets is about 60,000. In the U.S. and in China’s A-shares, there are both over 5,000 each. Their total market caps are, respectively: $13 trillion, $6 trillion, and $1.2 trillion.
The total market cap of the crypto market is $2.2 trillion. Bitcoin accounts for $1.29 trillion—more than half. The remaining tens of millions of tokens are split among the rest, only getting a small portion!
For us in the crypto world, it’s really like panning for gold in the Sahara Desert. Anyone who can make money is truly an exceptional top-tier talent among people—someone who’s still alive right now is also rare, chosen from among the best!
If U.S. stocks later collapse because the Federal Reserve hikes rates in September, does the crypto market have to go into the basement?
There are many reasons for this. One interesting one is that there are simply too many cryptocurrencies right now:
The total number has exceeded 50 million, and there have been 120 million deployed on-chain. That means 70 million have effectively gone to zero; On only the Pump platform alone, between January 2024 and June 2026, 18.67 million tokens were issued, and 80% of them “died” within 24 hours.
Cryptocurrencies with real trading volume are probably around 17,500, and the number of tradable coins deployed on Uniswap has already exceeded 14.4 million.
Compared with history: for the second halving in 2016, there were 700 coins; for the third halving in 2020, there were 6,000 coins. In 2024, the halving saw 3 million—this also explains why this halving’s bull market has been so underwhelming. There are too many monks and too little porridge!
For comparison: the number of individual stocks in global equity markets is about 60,000. In the U.S. and in China’s A-shares, there are both over 5,000 each. Their total market caps are, respectively: $13 trillion, $6 trillion, and $1.2 trillion.
The total market cap of the crypto market is $2.2 trillion. Bitcoin accounts for $1.29 trillion—more than half. The remaining tens of millions of tokens are split among the rest, only getting a small portion!
For us in the crypto world, it’s really like panning for gold in the Sahara Desert. Anyone who can make money is truly an exceptional top-tier talent among people—someone who’s still alive right now is also rare, chosen from among the best!