264 Altcoins Died in 2018
According to an estimate done by Coinopsy, a website which keeps an updated
264 Altcoins Died in 2018
264 virtual currencies which used to active at the beginning of 2018 have now ceased to exist according to Coinopsy’s
On the website, a dead coin is defined as a token or coin that has been deserted, swindled, a dead website, no nodes, wallet issues, low volume or developers have abandoned the project, and no social updates.
Philosopher Stones and Scorecoin are part of the projects which collapsed in 2018. However, this is not the first these two will be marked as dead. Both projects were established in 2013 but collapsed the following year and resurrected in 2017 due to the bull market which occurred at that time.
Dead Coins Categories
Dead coins are divided into 4 groups by Coinopsy based on whether it comprises of a joke, scam, an ICO, or an abandoned project. 144 virtual currencies of the 264 that collapsed in 2018 consisted of ICOs that were created in the previous year, therefore,
Furthermore, most of the ICOs on the list are either those that failed completely or are made up of frauds. For example, Dimoncoin which was a project that had several visible flaws in its whitepaper enabled the owner to
Also, the second largest group of virtual currencies that collapsed in 2018 were those that were neglected by their developers and they consist of 27% of the casualties. An overall of 73 altcoins was abandoned last year which included
In addition, 20% of virtual currencies that failed last year were suspected of comprising frauds with 55 projects accused of fraudulent activities.
