According to CoinDesk, the number of new tokens created in the third quarter of 2021 has dropped to its lowest level since the beginning of the year. Blockchain smart-contract auditor CertiK reported that 293 new tokens were added in Q3, down from 366 in Q2 and 449 in the same period last year. In comparison, during the peak of the crypto bull market in Q4 2021, 1,261 new tokens were created.
This decline in token creation coincides with reports of a 'crypto winter,' as venture-capital funding for crypto and blockchain projects also fell to its lowest level since late 2020. Ronghui Gu, CertiK's co-founder, suggests that the industry may be waiting for a resurgence before launching new projects. The recent drop in token listings could also indicate a maturation of the crypto industry, as the bar for launching a token is now higher, according to Sean Farrell, a crypto analyst at FundStrat. Additionally, regulatory uncertainty in the U.S. may have discouraged some projects from launching tokens.