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In 1983, pioneering cryptographer David Chaum published research that laid the foundations for electronic payments, blockchain and virtual currency. Chaum’s ideas ahead of his time, and decentralized virtual currency was rarely discussed outside of free-market libertarian policy circles for many years. This all changed with Satoshi Nakotomo and his development of bitcoin software and currency in 2009 — using a source code that would later lead to an explosion of cryptocurrencies onto the market throughout the 2010s.
With tens of thousands of currencies in existence today, it is a challenging market for investors and regulators alike. Many argue that there are too many coins in circulation, likening it to the ‘dot-com bubble’ around 25 years ago.
To analyze the coin currency market, CoinKickoff has created a visual analysis of a decade’s worth of dead crypto coins, from failed Initial Coin Offerings (ICOs) to loss of market interest.
Key findings from the study include:
- 704 now-dead coins started in circulation in the crypto-boom of 2017, more than the 224 established in 2016.
- 2018 was the sector's most fatal year for cryptocurrency, as 751 coins became defunct.
- The highest mortality rate for crypto can be found in 2014, 76.5% of the 793 coins are no longer in circulation.
- 551 of the 793 coins established in 2014 were abandoned. No other year has seen so many currencies lose as much trade interest.
Here's a peek at three of the six graphics they created:
The full dataset can be found here: https://bit.ly/DeadCryptoCoins
Read the full study here: https://coinkickoff.com/dead-crypto-coins/
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.