The cryptocurrency market continues to evolve rapidly, and Quasa Media is committed to providing regular insights into its current state.
This report, covering the end of April 2025, offers a detailed overview of the crypto industry based on data from CoinMarketCap and our internal analysis.
As of now, the market comprises 9,809 cryptocurrencies, which we have categorized into two groups: rated and unrated projects.
Market Breakdown: April 2025
- Unrated Projects: 7,100
- Rated Projects: 2,709
This first part of the report focuses on unrated projects, which represent the majority of the market but pose significant risks for investors and users.
Unrated Projects: 7,100
Unrated cryptocurrencies, totaling 7,100, are characterized by a lack of transparency and verifiable data.
These projects typically have:
- No confirmed trading volumes.
- Unverified market capitalization.
- Unclear or unconfirmed token issuance numbers.
Our analysis reveals that the vast majority of these projects — approximately 7,000 — are effectively dormant or unlikely to gain traction. Engaging with these projects is highly inadvisable due to their lack of credibility and operational viability.
Also read:
- Crypto Liquidity Vanished: 90% Fake Trading Across Exchanges, 95% Useless or Scam Projects—Reckoning Looms
- Lost Fortunes in Crypto Crashes: Money Laundering, Scams, Collusion, and a Horde of Fraudsters
- Crypto Exchanges Are Sawing Off the Branch They Sit On: They Have No Choice as the Crypto Pie Shrinks Catastrophically
Key Insights:
- Only 0.5–1% of unrated projects (roughly 70 projects) show some signs of legitimacy or activity. Even then, their long-term prospects remain uncertain.
- The remaining 99% of unrated projects are either scams or abandoned, with no realistic chance of recovery.
Trading Volume Distribution (Daily, Unrated Projects):
The daily trading volumes of unrated projects further highlight their lack of substance:
- 3,300 projects: No trading volume for at least 48 hours.
- 600 projects: $100/day.
- 500 projects: $1,000/day.
- 600 projects: $10,000/day.
- 900 projects: $50,000/day.
- 200 projects: $100,000/day.
- 600 projects: $500,000/day.
- 200 projects: $1 million/day.
- 200 projects: $1 million to $200 million/day.
These volumes, however, are often misleading. Some projects artificially inflate their trading figures—sometimes up to $200 million daily — to create an illusion of activity and attract unsuspecting investors. Others maintain moderate but equally fictitious volumes to appear credible. In reality, these figures are largely meaningless without verified capitalization and transparent operations.
Also read:
- The Number of Real Crypto Projects Using The Example of The Gold Rush
- Crypto Exchanges: A Colossus with Feet of Clay - Fake Volumes, Fake Traffic, and Fake Users Introduction
Conclusion on Unrated Projects:
The absence of confirmed capitalization and trading volumes is a critical red flag. If these were legitimate projects, they would have established trust through transparency. As it stands, only 70 out of 7,100 unrated projects show any potential, and even these should be approached with caution.
Rated Projects: 2,709
The second part of our report will dive into the 2,709 rated projects, which demonstrate greater transparency and accountability. These projects are more likely to have verified capitalization, confirmed trading volumes, and established reputations within the crypto ecosystem.
Final Thoughts
The crypto market in April 2025 remains a mixed landscape. While unrated projects dominate in number, they overwhelmingly lack credibility and should be avoided by investors and users.
The 70 potentially viable unrated projects represent a tiny fraction of the 7,100 total, underscoring the importance of thorough due diligence. In contrast, rated projects offer a more promising avenue for exploration, which we will cover in the next part of our report.
Stay tuned for Part 2, where we will analyze the state of rated cryptocurrencies and provide further insights into the evolving crypto market.
Quasa Media
April 2025
