We can see that many initial coin offerings are joining the crypto-market but not all of them showed a great success. Many of them turned up being a scam and many didn’t stand up to their promises and therefore failed.
Up to today, there are more than 500 identified coins that are considered dead. By dead, we mean that the value of those coins a basically below a cent. Also, you already know that the world’s most popular crypto stumbled down at the start of this year which may have influenced to the end of these small cryptocurrencies. It’s very likely that the behavior of the larger and mostly used cryptocurrencies have a strong impact on the smaller ones.
In May, two major exchanges in South Korea were hacked with thousands and hundreds of tokens wiped off. Despite this incident, regulation and taxation news are also building up the pressure on the market. Also, according to Cointelegraph, there have been more than $1 billion raised in fraudulent ICOs.
On the bright side, experts show great optimism. They believe that regulation on the crypto market will eventually help to boost the market and to improve it. Developers and engineers work hard to improve all the disadvantages of cryptocurrencies and make mass adoption easier. The goal is to change the mainstream system of payment and continue to upgrade the entire technology.
Since the list would be quite long, here are only a few of the coins considered ‘’dead’’:
- Halcyon
- Tellion
- DTCT
- Clout
- BitMillion
- ZCash-classic
- BitMiles
- XTD Coin
- Forge
- LIZUN
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