• Numerous cryptocurrencies on the market
• Only a few manage to survive in the long term
• The list of dead coins is constantly increasing
The “Dead Coins” portal sees itself as a database for virtual currencies that are no longer active. According to the online portal, these crypto corpses currently add up to 1,719 – and the trend is rising.
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In order to be considered a dead coin, the portal has created a number of criteria. A token is considered dead if there has been no update from the developer on official channels for more than six months. A cryptocurrency is also considered dead if a coin is classified as fraud, the website can no longer be accessed or the local wallet can no longer be synced due to a lack of network connections. It is also an indication of a dead coin if crypto exchanges have been delisted or the mining of the digital coin is no longer effective due to the freezing of the blockchain.
The strangest zombie coins
Since the websites associated with most dead coins have been taken offline or are no longer accessible for other reasons, it is no longer possible to understand what the intention of the developers could have been for a large number of them. It is often possible to speculate, at least with a view to the name, who the target group of the cryptocurrency could have been. In other cases, it remains completely unclear what the purpose of the digital token might have been.
For example, crypto developers apparently had a clear target group in their sights for the Jesus Coin and the Allahcoin – enough to launch an established cryptocurrency, but apparently do not have these ambitions.
Bizarre names like Alpencoin and Rocketcoin can also be found on the list of zombie cryptocurrencies, like Horsecoin or Birdcoin. What is striking is the large number of dead cryptocurrencies that refer to another pet: the dog. In addition to Dogefather, Dogeparty, Dogethereum and the Doggcoin, names such as Etherdoge and Lite Doge also appear in the list of dead coins. The similarity in name to the very successful Dogecoin should not have been chosen by chance by the developers.
This also becomes clear when looking at the crypto veteran Bitcoin. Dead cryptocurrencies often have a reference to the largest and most successful cryptocurrency in the name, so Bitcoin Byte, Bitcoin Game, Bitcoin Incognito and Bitcoin Platinum are listed as dead coins, Bitcoin Token, Bitcoin World and Bitcoinius can also be found on the portal’s list . The number two among the cryptocurrencies also has numerous namesakes on the Dead Coins list: In addition to Bethereum or Etherecash, Ethereum Dark, Ethereum Gold, Ethereum Plus and Ethereum Lite have not been able to hold a candle to the famous namesake Ethereum.
The fact that a large part of the coins mentioned died should not least be related to the fact that they turned out to be fraudulent. Especially at the peak of the crypto market, when Bitcoin, Ethereum & Co. made massive gains in value, the number of new crypto currencies on the market exploded. Only a few had a concept that convinced investors in the long term.
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