Dead Coins: Over 50% of Cryptocurrencies Have Failed - page 6.

Sayeds56

copper member

Activity: 1260

Merit: 698

Eloncoin.org - Mars, here we come!

Quote from: Kelward on January 19, 2024, 02:02:05 AM

Totally agreed that newbies should focus on buying Bitcoin and top altcoins like Ethereum, then when they're more knowledgeable about the market, they'll have more experience about investing in alternative coins, do their research to determine whether what they want to invest in is legit or shitcoin.

Certainly, Bitcoin and Ethereum stand out as prominent cryptocurrencies in the crypto space, making them not only preferred choice of newbies but also seasoned investors. We all should always prefer these two coin over altcoins.In my own long term portfolio, I allocate 60% to these two coins and remaining portion is distributed among note worthy projects, such as Solana, Chain Link, XRP, Cosmos, Celestia (TIA) and other well established coins ranked within the Top-20.

Kelward

full member

Activity: 364

Merit: 220

Eloncoin.org - Mars, here we come!

Quote from: Hispo on January 18, 2024, 12:39:24 PM

These kind of news and statistical researches only confirm one of the biggest reason any newcomer would feel very insecure to get into alternative coins or even in Bitcoin or Ethereum.
There are simple too many scams and shady projects out there, being launched each day seeking for victims. The worst part is the fact much of the people who want to become investors of those alternative currencies do not know how to spot whether is fake or can be trusted. In the end, the results will be a very negative experience with the coin and passing the information to other people about cryptocurrencies as a whole are all scams, which is obviously false.

I would also point out that being a alternative coin investor is not something for people who do not have time to keep an eye on the price and the data of such coin, with alts one nevers knows when a massive dump will start leaving one holding the bags forever.

Before buying alternative currencies, I think it would be better just to get some Bitcoin or Ethereum, in the case of newbies. Thanks for sharing the article, by the way.

I've concluded that the crypto industry is a hub of scams and hacks, and this chart by the OP has proved that it's true, I believe that the reason must be because of weak requirements for developers, so every scammer can easily get their scam projects listed. And the victims are newbies into cryptocurrency investment, they'd hear a project on YouTube or telegram, they'd hear an enticing new project from someone, without knowing that they're supposed to carry out research first, they'll put their hard earned money in it and when they're eventually scammed, they'll label all cryptocurrency as scam.

Totally agreed that newbies should focus on buying Bitcoin and top altcoins like Ethereum, then when they're more knowledgeable about the market, they'll have more experience about investing in alternative coins, do their research to determine whether what they want to invest in is legit or shitcoin.

Sayeds56

copper member

Activity: 1260

Merit: 698

Eloncoin.org - Mars, here we come!

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed
"How Many Crypto Coins Have Died?
Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.

Most dead cryptocurrencies came from projects launched during the 2020 - 2021 bull run. 7,530 cryptocurrencies from that period have died, accounting for 53.6% of all dead cryptocurrencies on CoinGecko. Over 11,000 cryptocurrencies were listed on CoinGecko during the previous bull run, with ~70% having shut down since."

___
Officially, only 50% are scam and unsuccessful projects

Certainly, crypto currencies market has seen significant expansion during the recent recent years, and it is true that all of them not genuine. Exploiting the popularity and rapid progress of its market, numerous bad players have entered, seeking to exploit and defraud new comers. I think the number of failed projects could exceed further if intensive research is conducted. I personally choose to invest in only Top 20 projects listed on coinmarketcap and promising projects in new emerging sectors such as Artificial Intelligence (AI) and Real World assets (RWA).

wxa7115

hero member

Activity: 2702

Merit: 704

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed
"How Many Crypto Coins Have Died?
Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.

Most dead cryptocurrencies came from projects launched during the 2020 - 2021 bull run. 7,530 cryptocurrencies from that period have died, accounting for 53.6% of all dead cryptocurrencies on CoinGecko. Over 11,000 cryptocurrencies were listed on CoinGecko during the previous bull run, with ~70% having shut down since."

___
Officially, only 50% are scam and unsuccessful projects

And those are only the coins that gained enough notoriety to be added to their website, if we were to take a look at the whole group of coins that at some point were created and that failed then the number of failed coins and the failure percentage will go up even more.

This is why it is difficult for me to understand those that invest in those coins, since the risk they are taking is very high and for the most part the risk does not match the benefits they could get.

btc78

full member

Activity: 2492

Merit: 212

Eloncoin.org - Mars, here we come!

When there is too much quantity of a product, it is bound to happen that only a few would be of good quality

This statistical data might make beginners turn away from altcoins but despite the difficulty in finding a good project with potential to go big, altcoins still serve a lot of benefits for investors especially those short-term investors people who can not find what they are looking for in bitcoin or ethereum can look for it with altcoins right now it seems like a lot of people only care about releasing or launching a project i hope to see someday that a lot of altcoins would be successful

oktana

sr. member

Activity: 1582

Merit: 281

Eloncoin.org - Mars, here we come!

Some died because that was their plan all along (scam), some died because they failed to understand the market properly and underrated it. Some died because they didn’t generate enough fund to successfully launch and run the project. For some it was poor community engagement (something very important). And many other reasons. These numbers are the reason I like to advise people to be careful of what altcoin they want to invest their money into. Just because something is new doesn’t mean it’s good or safe. The ratio isn’t look good at all.

Dr.Bitcoin_Strange

hero member

Activity: 532

Merit: 508

Go after the goal... Go!!! It is worth getting!

Great information. I was actually thinking of fetching this data to use it for educational purposes off the forum, precisely, and perhaps on the forum too.

I know about 10 good projects that started in 2021, and they started well and seemed more like a project that was not going to fail, but they are no more today. After investing in different altcoins that render my investment worthless, I just cease to invest in altcoins. If I want to invest in any altcoin now, it's just to invest an amount that I can afford to lose.

wheelz1200

legendary

Activity: 3612

Merit: 1406

That's just as of today. Most of those are just being held up by pure greed. I'd argue at least 99% of these are just scams or at best not scams but projects that have unachievable goals. Anyone can make a coin in no time and think they can run a project. But most are just pump amd dump.toys to get those people who make them more bitcoin, eth or fiat.

Johnyz

full member

Activity: 2086

Merit: 193

Most of them didn't died because they failed, but most of them are just a scam project who are meant to die instantly after getting what they want and that is not new anymore. Most probably some projects were affected by the pandemic that resulted in stopping their operations. They died in purpose and maybe that is for our own benefit, for us to avoid those projects because they are not worth the risk. Its good that recently, most of the projects are doing great.

bluebit25

sr. member

Activity: 1624

Merit: 292

Eloncoin.org - Mars, here we come!

It seems like 50% is a conservative number for what has been and is, even now a portfolio in the 5000 crypto range is already a challenge for everyone. No one has the time to remember them all, and just like filtering, the range in the top 1000 seems to work better and then the top 500, 100, 10, 1.

The core thing is bitcoin and the rest are leaves and scenes that are developed, but to be honest since it has been operating up to now, there has been a lot of attention from many developers, I don't know if other fields could produce such figures during that period. I just had to laugh, because seeing some projects from people with no knowledge, anyone can create their own project

.

Y3shot

full member

Activity: 560

Merit: 161

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

"How Many Crypto Coins Have Died?
Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039

That's altcoins for you which anything can happen at anytime, so many altcoins in the market are no more to be found in the market and many more will still not to be find in the market. That's is why it is important before making plans to invest in altcoins one needs to invest with the amount one can afford to lose. Altcoins are not something that one can rely if it will last long in the market. Making better research before investing to know if altcoins are good for investment is important.

batang_bitcoin

hero member

Activity: 2968

Merit: 600

Eloncoin.org - Mars, here we come!

And soon, there are going to be more of them. 50% actually is quite high in numbers if there are bunch of projects already in the market. There's a need to purge them but it is going to happen naturally because everyone will have their own preference on what they should invest and that's going to be the most reputable ones and no doubt that if after this soon to be bull run ends, there will be more of them. That's like the season that many of them will die more.

MAAManda

hero member

Activity: 1484

Merit: 706

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

"How Many Crypto Coins Have Died?

Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.
Most dead cryptocurrencies came from projects launched during the 2020 - 2021 bull run. 7,530 cryptocurrencies from that period have died, accounting for 53.6% of all dead cryptocurrencies on CoinGecko. Over 11,000 cryptocurrencies were listed on CoinGecko during the previous bull run, with ~70% having shut down since."

Somehow I'm not at all surprised to see this data, we all know that only a small number of projects are serious about building this industry, the rest are just speculation and taking advantage of the moment. That 50% is the data that CoinGecko managed to collect from projects listed on their platform, then what about those that are not registered on their platform or that are not registered at all on CoinGecko, Coinmarketcap, Coinpaprika and other platforms?

So, I wouldn't be surprised if later we find data that 90% of all crypto projects are dead projects, if we refer to all native tokens that have been created on various networks.

Bitstar_coin

hero member

Activity: 2408

Merit: 693

Undeads.com - P2E Runner Game

Reason why majority of alts are not for longterm, they are only good for temporary trade. Imagine buying and Hodling an alts that will lose value within a year or two and you will automatically lose your investment.
Every so often new alts project is out with it's native tokens, it makes it difficult for investors to keep up.
Majority don't really have utility so they will fail definitely.

avikz

legendary

Activity: 3024

Merit: 1496

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

___
Officially, only 50% are scam and unsuccessful projects

50% !!! The percentage looks smaller than expected. I thought over 85% cryptocurrencies have failed. I am not sure if Coingecko has considered every single cryptos were launched so far. Probably they had created some entry barrier to appear to their list. Crypto market had become like wild west during ICO time where every single day we used to see at least 30 - 40 new ICOs launching. Then we had IEO 0hase and then IDO. The number seriously doesn't look correct to me.

dunfida

legendary

Activity: 3080

Merit: 1130

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed
"How Many Crypto Coins Have Died?
Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.
----
Most dead cryptocurrencies came from projects launched during the 2020 - 2021 bull run. 7,530 cryptocurrencies from that period have died, accounting for 53.6% of all dead cryptocurrencies on CoinGecko. Over 11,000 cryptocurrencies were listed on CoinGecko during the previous bull run, with ~70% having shut down since."

___
Officially, only 50% are scam and unsuccessful projects

Not just shocking and how about into those coins that have completely rug pulled and become a scam into those decentralized exchangers? For sure these numbers would really be just that too small
since they are really that focusing or trying to look on CG stats but in overall then those numbers would really be just that mere small. This is why it wont really be shocking
that there are tons of shit projects that would exist into this market considering that there are tons of newbie investors too on which those scam developers would really be doing their
very best on trying out to lure those people to make those blind investment and make that easy money.

This is why it would really be that best that you should really know on which project that you would be sticking in for long term but since it cant really be denied that
we do want to have that early entry into those projects then this is why people would really be that a fan on trying to invest into those early times as much
as possible on which high multipliers could be possibly be able to obtain once you do hit up the right project.

Tipstar

sr. member

Activity: 1764

Merit: 280

Smart World Global Token

Quote from: jrrsparkles on January 18, 2024, 02:22:15 PM

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

Officially, only 50% are scam and unsuccessful projects

I am sure that the numbers can go up to 90% if we take the reports based on the price when it's launched and the current standing price. This isn't surprising to me at all because this is free-market and everyone can come up with their own project and blockchain like ETH,BNB helped their dream to be more easier cause they can just start their token journey with the minimum resources possible.

The numbers are already upto 99%. It's just that we don't count.
The chart is suggesting the coins that were at times listed on and tracked by coingecko. There are 100s of crypto projects specially memecoins and dumb forks of mineable coins that even don't make it to the coingecko.
This stage of crypto itself is a good thing for the future as investors and users would learn that not every crypto are the same. This would also make new projects struggle to prove themselves but when they get to stand out, they'd be a good option.

jrrsparkles

sr. member

Activity: 2380

Merit: 251

Eloncoin.org - Mars, here we come!

Quote from: zasad@ on January 18, 2024, 12:30:54 PM

Officially, only 50% are scam and unsuccessful projects

I am sure that the numbers can go up to 90% if we take the reports based on the price when it's launched and the current standing price. This isn't surprising to me at all because this is free-market and everyone can come up with their own project and blockchain like ETH,BNB helped their dream to be more easier cause they can just start their token journey with the minimum resources possible.

Mate2237

hero member

Activity: 700

Merit: 577

Eloncoin.org - Mars, here we come!

I can only remember one cryptocurrency in 2022 that died and except that one coin I have not heard another coin that has died. You mean 24,000 cryptocurrency have died from 2014 to date, wow!!! That is huge number. Though I have heard some died cryptocurrency projects in 2021 but I didn't see them and the only one I saw was the Terra Luna and most of those projects were created by criminals.

Any scam cryptocurrency projects can not stay long in the ecosystem because it would not grow and the developers would be frustrated. And must of them are still surviving because of the mini bull market and once the bear market come again many will collapse again. Please when you are investing be wise.

ryzaadit

legendary

Activity: 2450

Merit: 1225

Quote from: Beparanf on January 18, 2024, 01:03:55 PM

-snip-

IMO, we still have many more.

There has some project are not listed on the coin-provider, like they take some fund from fundraising and never getting listed or are completely scammed. Also, you can't check based on total contract is being created.

As you know, contract being crated is not always for new project.

Topic: Dead Coins: Over 50% of Cryptocurrencies Have Failed - page 6. (Read 1106 times)