Cryptocurrencies Graveyard – More Than 800 Cryptos Are Dead

Since the creation of Bitcoin (BTC) in 2009, more than 800 cryptocurrencies have disappeared for various reasons. Thar is assured by the Dead Coins portal where you can consult the lists of these crypto coins, their status and the causes of their disappearance.

The 2018 cryptocurrencies market drop and lose of trust in cryptos caused many digital assets to vanish

The growth of dead or retired cryptocurrencies has increased in recent months due to the sharp fall of Bitcoin (BTC) and other significant cryptocurrencies. BTC entered in 2018 with a valuation of nearly $20,000 per unit and is now only valued at about 35% of that figure in the most conservative markets.

The reason for the loss of trust in this type of currency also increased due to the numerous hacking or scams that have been carried out against the cryptocurrency exchange platforms or newcomers, respectively. That generated fear in the people who owned these digital assets, forcing them to sell their cryptos before their money was utterly diluted, but also in those people who wanted to invest in this market for the first time.

Dead Coins list includes all kind of crypto coins, from hacked one to those that were never established

Several financial analysts have determined that this instability of cryptocurrencies is very similar to what happened in the 2000s when the “.com” bubbles burst and fear increases the crypto coins’ credibility. But other people are taking advantage of this fall to buy and invest in companies that launch this type of currency to finance their projects and then claim the cash when the momentum is gained.

The Dead Coins list comprises 12 hacked coins, 55 of which were jokes, 125 were scams and 635 were not established.

Also, the figures above indicate that ICOs (initial coin offerings), even though they are very frequent in the cryptocurrencies market, they are not as successful as expected. While between all the 760 ICOs on the Dead Coins list only 125 were scams, 635 were trustworthy ICOs but which didn’t reach maturity, stuck somewhere in the process.

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About the Author: Anna Galvez

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