Research has revealed that many cryptocurrency projects have been wiped out while the bear market continues.. So why did these projects fail?
According to the research of Coinopsy and DeadCoin, more than 1000 crypto money projects have died
DeadCoins and Coinopsy According to data from nearly 1000 different cryptocurrency projects died in 2018 . Some of these crypto projects were victims of a bear market. Most of the dead crypto projects were scam projects, even their ICOs were regulated.
Bitconnect is on the list of dead crypto projects by DeadCoins and Coinopsy.. BitConnect is considered one of the largest crypto-linked Ponzi scheme scams in history.
Compiling one of the most comprehensive sources of information on failed projects, Deadcoins currently has at least 934 strong> revealed that the crypto money project was deleted from the market. In July 2018, DeadCoins said around 800 crypto projects were dead.. In addition, Coinopsy says there are 483 more digital currency projects that are no longer active.
According to Coinopsy, a crypto project can be considered dead if its token was abandoned by its founders, is a scam, or if the website is no longer operational.
Coinopsy also states that the cryptocurrency project can be considered dead if there is no transaction volume or if the transaction confirmation nodes do not support the token.. But if there are unresolved technical issues with the software that supports the cryptocurrency, crypto is considered inactive.
In particular, Coinopsy has classified dead coins as follows:
- Dead ICO coins
- Dead Joke (joke) coins
- Abandoned (Abandoned) dead coins
- Dead Scam (scam) coins
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There are 113 ICO dead coins identified by Coinopsy. So what do ICO dead coins mean?
What are dead ICO coins?
Projects that have held an ICO but do not offer any products or updates related to their platform are called.
Cryptocurrencies are also seen as dead ICO coins (by Coinopsy) if they are used for pump-dump or manipulation purposes and have never been accepted.
Wall Street Journal : Most of the dead crypto projects are exactly the same as crypto projects. copied
What is a joke coin?
According to Coinopsy, one is crypto that was launched with the sole intent of joking and has no serious plans to become a useful digital asset..
There are 17 cryptocurrencies listed as prank cryptos on Coinopsy. In addition, Coinopsy stated that there are at least 40 cryptocurrency projects and 313 Abandoned dead coins that have been uncovered for fraudulent purposes.
Recently, the Wall Street Journal (WSJ) also investigated inactive crypto projects.. The WSJ’s latest research findings reveal that over 15% of crypto projects that raised funds through ICOs in 2017 and 2018 had their white papers copied exactly from other crypto projects.
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