Ultimate magazine theme for WordPress.

Over 1000 Cryptocurrencies Are “Dead Projects,” Concludes Research

13,108

Dead Coins

Data collated by 2 digital currency tracking websites suggest over 1,000 digital cryptocurrencies are “dead projects,” implying no scope of future development of their protocol with their prices decided only by market speculation. Dead Coins and Coinopsy, which conducted the research, grouped the projects under distinct reasons – ranging from coordinated pump and dump, investor fraud, faulty wallets, lack of funds, and even in one case, developer death.

As stated, the “dead projects” have cumulatively raised over billions of dollars worth of BTC and ETH.

- Advertisement -

While worldwide law requirement may have examined several token issuers to decide their authenticity, newbie investors were generally absent-minded to essential research before making millions of dollars in investments. Humorously, the names of a few coin projects are enough to indicate a potential mishap – such as  OreoCoin, Snowballs, and CryptoMeth.

Aaron Brown, a business markets author for Bloomberg, stated:
“There has clearly been noteworthy extortion and promotion in the ICO market. I have seen 80 percent of ICOs that were fakes, and 10 percent needed substance and bombed soon after fundraising. A large portion of the rest of the 10 percent will presumably flop too.” 

The Fake, Disappointing Cryptocurrency Startup

As reported in May 2018, an investigation by Satis Group concluded that false ICOs raised over $1 billion up in 2017, and more than 271 coin organizations overflowed with sketchy activities, plagiarized white papers, and fake team members or different fraud reasons.

Interestingly, only 8 % of all ICOs made it to an exchange for trading. The rest shut shop after the fundraising stage or were listed on questionable exchanges.

While startups are infamous for their high failure rate, blockchain businesses have performed worse than the market average for failed investments. An October 2017 report by CB Insights indicated only 28 % of blockchain technology startups could proceed to the second round of seed funding, compared to 46 % of traditional businesses.

“I don’t think we found the killer app yet,” said Arieh Levi, an analyst at CB Insights. “It just seems like there’s been many projects tried, but there are not many users of blockchain protocols beyond speculators and traders.”

However, in these dire situations, a startup aims to establish its mark. South Africa-based CoinJanitor seeks to swap the tokens of abandoned projects to its currency while trying to fix the code issues – as long as the project’s market cap is lesser than $50,000.

24 Comments
  1. Kit Rivestimento Cruscotto all'interno del veicolo Cruscotti personalizzati says

    You’ve made some decent points there. I checked on the
    web for more information about the issue and found most individuals will go along
    with your views on this website.

  2. GasGrills.Biz says

    It’s really a cool and helpful piece of information. I am happy that you shared this helpful info with us.
    Please keep us up to date like this. Thank you for sharing.

  3. Charcoal grill says

    Thanks for every other informative blog. The place else could I am
    getting that type of information written in such a perfect means?

  4. Featured electric grills says

    Really no matter if someone doesn’t understand
    after that its up to other users that they will assist,
    so here it occurs.

  5. Best Kamado Grills says

    Oh my goodness! Amazing article dude! Thanks, However I am having troubles with your RSS.
    I don’t know why I am unable to join it. Is there anyone else getting similar RSS issues?
    Anyone who knows the solution can you kindly respond?

    Thanx!!

  6. top charcoal Grills says

    Hello colleagues, pleasant piece of writing and pleasant arguments commented
    at this place, I am actually enjoying by these.

  7. http://bandarqindonesiauuq.journalwebdir.com/ says

    Tһanks for one’s marvеlous posting! I definitely
    enjoyed reaɗіnng it, you halpen too be a grеat author.I will remember to bookmark your bloց and will eventually come back in the fireseeable future.

    I want to encօurage you to սltimateⅼy continue your gгeat work, hаvе а nice ɗay!

  8. Grilling says

    Quality posts is the secret to invite the viewers to pay a
    quick visit the website, that’s what this web
    site is providing.

  9. http://Dbf-Formation.fr/k2-listing/Item/246-a-responsive-education-joomla-theme says

    Aw, this was a really nice post. Finding the time and actual effort to
    make a really good article… but what can I say…
    I procrastinate a lot and don’t manage to get nearly anything done.

  10. R says

    Hi to all, the contents existing at this web site are genuinely
    amazing for people experience, well, keep up the nice work fellows.

  11. kamado Grill says

    I take pleasure in, cause I found exactly what I used to be having a look for.
    You’ve ended my 4 day long hunt! God Bless you man. Have a
    great day. Bye

  12. Charcoal Smoker says

    Great delivery. Sound arguments. Keep up the great spirit.

  13. charcoal Grill says

    Oh my goodness! Amazing article dude! Thanks, However I am having troubles
    with your RSS. I don’t know the reason why I cannot join it.
    Is there anybody else getting identical RSS issues? Anyone who
    knows the solution can you kindly respond? Thanx!!

  14. Propane gas grill says

    Hi there, just became alert to your blog through Google, and found that it’s truly informative.
    I’m gonna watch out for brussels. I’ll be grateful if you continue this in future.
    Many people will be benefited from your writing. Cheers!

  15. Barbecues says

    Wonderful article! That is the type of info that are
    supposed to be shared around the net. Disgrace on the seek engines for now not positioning this put up higher!
    Come on over and seek advice from my site . Thanks
    =)

  16. grill says

    Excellent, what a website it is! This webpage gives valuable information to
    us, keep it up.

  17. GasGrills.Biz says

    Hey very interesting blog!

  18. GasGrills.Biz says

    I love it whenever people come together and share ideas.

    Great blog, continue the good work!

  19. gasgrills says

    Aw, this was an incredibly nice post. Spending some time and actual effort to generate a top notch article…
    but what can I say… I put things off a whole
    lot and don’t manage to get anything done.

  20. Kamado grill says

    Hello my family member! I want to say that this article is awesome, nice written and come with approximately all important infos.

    I’d like to see more posts like this .

  21. Featured Electric grills says

    Thanks in favor of sharing such a pleasant thought, paragraph is nice, thats why i have read it entirely

  22. grilling says

    Thanks for finally talking about >Over 1000 Cryptocurrencies Are “Dead Projects,” Concludes
    Research – Coin Diary <Liked it!

  23. pellet grills says

    Hello! I know this is kinda off topic however , I’d figured I’d
    ask. Would you be interested in trading links or maybe guest authoring a blog article or vice-versa?
    My site covers a lot of the same topics as yours and I think we could greatly benefit from each
    other. If you’re interested feel free to shoot me an e-mail.
    I look forward to hearing from you! Awesome blog by the
    way!

  24. grilling says

    Just want to say your article is as surprising.

    The clarity to your post is simply excellent and i can think
    you are a professional in this subject. Well
    along with your permission allow me to seize your
    RSS feed to stay updated with impending post.
    Thanks 1,000,000 and please keep up the gratifying work.

Leave A Reply

The team of DiaryCoin would like to keep you updated with the lastest crypto-news

Would you like to?