Conor Grogan, a crypto analyst, revealed the alarming rate at which crypto assets are created, questioning its sustainability.Â
Grogan shared his observation with an X post comparing the number of available tokens during the 2017 -2018 alt season to what is available now.Â
Grogan’s observation sparked a debate on the quality of tokens launched in the crypto marketplace today, focusing on their long-term potential and the sustainability of the entire market.Â
Supply higher than DemandÂ
In reaction to Grogan’s observation, other analysts pointed out other concerns concerning the number of crypto tokens launched daily.Â
Analyst Alex Kruger pointed out that Supply by far outweighs demand, and demand hasn’t caught up for years.Â
This development, according to Kruger will likely lead to brief altcoins seasons.Â
 Altcoin seasons are basically periods when altcoins outperform Bitcoin. Kruger mentioned that altcoin seasons will still occur but will be brief, lasting only days or weeks at most.Â
Finding Good Projects becoming a challengeÂ
In addition to the challenge of Altcoin seasons becoming briefer. Kruger pointed out that the surplus supply of crypto projects is making it a lot more difficult to find good projects worth backing.Â
The market is saturated with low-quality projects with no long-term potential and real-world use cases.Â
The rise of memecoins promising to make backers rich overnight has created a bad precedent in the market.Â
The incentive to create quality projects backed with real tech and solving a peculiar problem has dipped over the years for more temporary tokens.Â
The rise of memecoin generators like Pump. fun and Sun Pump contributed greatly to this malaise.Â
