If you have a look at coinmarketcap then you can see that there are more than 3 thousands cryptocurrencies and tokens. But the question is are they really useful? Did they innovated something? Most of them are just copycats of another reputable cryptocurrencies like bitcoin, monero, zcash, ethereum etc. For example bitcoin private was the fork of zcash and was sitting at 20-30 usd before crashing. The funny thing is that 2 millions of bitcoin private was premined and hidden in the shielded address for the purpose of dumping on the market. The thing is wrong with most of copycats is that they don't surve any purpose. In fact zcash and bitcoin private use the same technology and parameters then why use bitcoin private if there's more reputable original cryptocurrency? Most of the copycats will die soon or late and the survivors will be those who will have innovative and useful products.
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