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Research: 264 Cryptocurrencies Failed to Survive 2018

264-Cryptocurrencies-Failed-to-Survive-2018 Research: 264 Cryptocurrencies Failed to Survive 2018

According to the Coinopsy research group dealing with the statistics of the "dead" cryptocurrencies, 264 altcoins and tokens, which were active in early 2018, could not stand the bear market and ceased to function. More than half of them launched as ICOs in 2017.

Coinopsy refers to "dead" coins projects that have been abandoned, used to implement fraudulent schemes, do not maintain a website, do not have active networks, updates on social networks that have problems with wallets and do not have any developments and adequate amounts bidding.

In addition, in the above data there are two projects that "die" for the second time. The Philosopher Stones and Scorecoin launched in 2013, but the next time they stopped giving signs of life. In 2017, there was a revival on the background of the growth of the entire cryptocurrency market, but in 2018, there was a failure again.

Coinopsy divides "dead" coins and tokens into four categories, depending on what they are: ICO token, abandoned project, fraud or joke.

Of the 264 projects, 144 launched through the Initial Coin Offerings in 2017. Many projects from this list showed complete inconsistency or turned out to be fraud: for example, Dimoncoin, which "had a hole in the smart contract, with which the creator could at any time release an unlimited number of tokens".

The second largest category is projects abandoned by developers. Among them, the Rare Pepe Party, Masternode Community Coin and India Coin. They account for 27% of 264 abandoned projects.

Signs of fraud found in 20% of tokens.

Recall that in June 2017, based on data from Coinopsy, conducted a research stated that more than 1000 cryptocurrencies could be attributed to "dead projects".

SOURCE

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