How Many Cryptocurrencies Have Failed in Recent Years

According to recent data, over 1,400 cryptocurrencies have failed since 2017.

The sheer number of failed cryptocurrencies is staggering, with some estimates suggesting that up to 90% of all cryptocurrencies will eventually fail.

Many of these failed cryptocurrencies were launched with little more than a whitepaper and a promise, only to disappear shortly after.

In fact, some of these failed cryptocurrencies were launched with the sole intention of scamming investors.

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SpaceBit, launched in 2014, was one of the many cryptocurrencies that failed to make a lasting impact. Despite the world's recognition and anticipation of its growth, it didn't manage to emerge as a successful cryptocurrency.

The founders of SpaceBit formed nano-satellites to back their plan, but it was all in vain. GetGems, another cryptocurrency launched in 2014, also failed to deliver on its promises. Its founders were unable to fulfill most of the promises they had made during its launch.

GetGems' popularity was short-lived, and it eventually came to a standstill. It's still in existence, but its validity as a cryptocurrency has slowed down.

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New cryptos dying at an alarming rate. As of mid-March, CoinGecko reports that 1,866 of the 6,300 cryptos it listed in 2022 are already classified as dead. This is a staggering 30% of all cryptos listed by CoinGecko last year.

The number of dead cryptos is a testament to the fact that many new projects are doomed to fail. In fact, data from CoinGecko shows that the number of dead coins has been increasing steadily over the years. In 2013, 66% of all coins launched that year were already dead by the end of the year.

Here's a breakdown of the number of dead coins per year, based on CoinGecko data:

It's clear that the number of dead cryptos is a significant problem in the industry. In fact, the success of a few projects can create a false sense of security, leading investors to pile into new projects without doing their due diligence.

The cryptocurrency market has experienced some wild swings over the years. Hope Mutie, a professional writer and editor, has curated content that's fun-to-read, educational, and offers unmatched value.

The first cryptocurrency, Bitcoin, was launched in 2009 with a market value of around $0.008 per coin. It's hard to believe that's where it all started.

Many cryptocurrencies have failed to gain traction, with some experiencing significant market swings. The article "Rise & Fall: A Brief History of the Biggest Swings in Crypto" sheds light on the biggest swings in crypto.

In 2017, Bitcoin's market value skyrocketed to nearly $20,000 per coin, only to plummet to around $3,000 by 2018. This swing of over 85% in just a year is a stark reminder of the volatility of the crypto market.

The cryptocurrency market is known for its unpredictability, with prices changing rapidly. Hope Mutie's content is a great resource for those looking to learn more about the world of cryptocurrency.

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There are over a thousand cryptocurrencies that have failed in the market. Many people have lost faith in the stability of these digital currencies.

The existence of most cryptocurrencies is often tied to the future and stability of their rates, which can be a major issue. Small mishaps can lead to the end of these electronic mediums of exchange.

Security is a major concern for cryptocurrency users, and if services are against the nation's standards, the collapse of the cryptocurrency can be short-lived.

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There are over a thousand cryptocurrencies that have failed in the market.

A small mishap can lead to the end of an electronic medium of exchange, which is a major concern for investors.

The type of publicity and the fulfilment of consumers' goals and objectives are crucial for a cryptocurrency's success.

If a cryptocurrency's services are against a nation's standards, its collapse is short-lived.

There must be security offered and assured to customers to feel protected and not prone to losses.

The future should indicate success, or else, the public will not have faith in the stability of the cryptocurrency in the market.

The existence of most cryptocurrencies stems from the future and stability of their rates, which is a major factor in their failure.

The majority of people can attest to the popularity that the digitized currency has brought, but existence is always short-lived.

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Most cryptocurrencies are likely to fail, and it's just a matter of time. This is because, just like in the dotcom era of the Internet, only a few projects will rise from the thousands that exist to take market share.

The dotcom era is a good analogy for the current state of cryptocurrency. Many projects were launched, but only a select few became successful.

Only a handful of cryptocurrencies will manage to carve out a significant market share. This is a harsh reality that investors and enthusiasts need to accept.

Bitcoin and Ethereum are likely to be the Microsoft, Apple, or Google of the cryptocurrency world. They have already established themselves as leaders in the market.

Other digital assets may also become successful, but they will need to take more time to grow and establish themselves. NVIDIA is a good example of a company that took time to grow and become successful.

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A failed cryptocurrency can have some pretty dire consequences. The price can spiral out of control, and it may even get delisted from exchanges.

If a cryptocurrency becomes a "dead coin", it's essentially worthless and no longer traded. This can happen if it's not traded for over 30 days or if it's exposed as a scam.

As long as someone is willing to run the blockchain network, a cryptocurrency can technically stay alive forever. However, when there's little to no financial incentive to run the network, it's unlikely to happen.

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Countless cryptocurrencies have met their demise, with over 2,500 dying since 2013. This number is likely to rise over time as more cryptocurrencies lose their luster as investment assets.

If you had invested in a cryptocurrency that dies, it's likely you'll lose your investment. It's essential to be cautious and do your research before investing in any cryptocurrency.

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The investor impact of failed cryptocurrencies can be devastating, with losses exceeding billions of dollars. OneCoin, for example, allegedly generated losses in excess of $19.4 billion.

The OneCoin ponzi scam promised investors guaranteed 300% returns, but the money was instead used to pay off other investors in the scheme. This type of scam is a stark reminder of the risks involved in investing in cryptocurrencies.

Investors in Bitconnect also suffered significant losses, with the value of their coins plunging 96% after the exchange was shut down. This highlights the importance of doing thorough research before investing in any cryptocurrency.

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The cryptocurrency market can be a wild ride, and it's essential to approach it with caution. Many coins live and die in very short cycles, as seen in CoinGecko's report.

Speculative assets like meme coins and tokens launched without a solid foundation are particularly risky. These investments are not based on fundamentals, but rather on hype.

Investing in well-known tokens like bitcoin and ether may be a safer starting point. Experts recommend starting with these more established options.

Remember, crypto is a high-risk asset class, and financial advisors warn against investing money you're not willing to lose.

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Investors have lost money through scams in the crypto world, with one notorious example being the alleged OneCoin ponzi scam, which may have generated losses in excess of $19.4 billion.

The OneCoin scam promised investors guaranteed 300% returns for investing Bitcoin or U.S. dollars, but allegedly used the money to pay off other investors in the scheme.

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Bitconnect, an exchange where investors could swap Bitcoin for Bitconnect coins, was shut down by U.S. authorities after longstanding Ponzi accusations, causing huge losses when Bitconnect coins plunged 96% in value.

Hacking of exchanges has also led to significant losses, with the Mt. Gox attack of 2014 resulting in over 850,000 bitcoins being stolen and never recovered.

The Binance exchange, one of the world's largest, has been hacked several times, costing investors tens of millions of dollars.

The death of Gerald Cotten, founder of Quadriga, left 115,000 customers with unrecoverable investments worth $137m, as nobody had access to his passwords.