Question 1

How many cryptocurrencies exist today?

Accepted Answer

There are over 19,000 cryptocurrencies tracked globally. This includes major coins like Bitcoin and Ethereum, stablecoins, DeFi tokens, meme coins, and thousands of altcoins. New tokens are launched daily, while inactive projects are regularly delisted.

Question 2

What is the difference between a coin and a token?

Accepted Answer

A coin operates on its own blockchain (like Bitcoin on the Bitcoin network or Ether on Ethereum). A token is built on top of an existing blockchain, such as ERC-20 tokens on Ethereum or BEP-20 tokens on BNB Chain. Both are cryptocurrencies but differ in their underlying architecture.

Question 3

How is cryptocurrency price determined?

Accepted Answer

Cryptocurrency prices are determined by supply and demand on exchanges. When more people want to buy than sell, prices rise. Factors affecting price include trading volume, market sentiment, regulatory news, technological developments, and macroeconomic conditions. Prices can vary slightly between exchanges.

Question 4

What does 24-hour trading volume mean?

Accepted Answer

The 24-hour trading volume represents the total value of a cryptocurrency traded across all exchanges in the last 24 hours. High volume indicates strong market interest and liquidity, making it easier to buy or sell without significantly affecting the price. Low volume can mean higher price volatility.

Question 5

Why do cryptocurrency prices change so frequently?

Accepted Answer

Cryptocurrency markets operate 24/7 globally, unlike traditional stock markets. This continuous trading, combined with relatively lower market caps compared to traditional assets, leads to higher volatility. News, social media sentiment, whale movements, and global events can cause rapid price swings at any time.

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