About 91% of cryptocurrencies released in 2014 are no longer in the market.
In this period when the markets are on the rise again, it is necessary to be careful when investing in altcoins.
Crypto Markets Are Recovering
Crypto markets tend to recover after a long time. Bitcoin and Ether values have increased by about 20%. However, a new study on altcoins has once again shown that traders should be careful when investing.
When markets are up, traders often trade long positions on many cryptos to earn more profits.
This could lead to increased volatility on crypto exchanges. However, traders anticipate each other’s movements. As a result, markets may become more volatile due to short-term prospects.
Last week, the top three cryptocurrencies were up 20%, while ADA was up 26%, SOL 70%, AVAX 42%, LDO 42% and APT 94%.
No Traces of Cryptocurrencies Released in 2014
A recent study revealed that 91% of cryptocurrencies released in 2014 no longer exist. Similarly, 704 of the cryptos released in 2017 and 751 of the cryptos released in 2018 are no longer in the markets.
“With Coinopsy’s data, we reviewed data on more than 2400 dead cryptos and compiled data on the current state of each asset. We then analyzed the performance of these assets over the last 10 years and determined why they disappeared.”
The study found some common themes in entities that no longer exist. These include scams, memes, ICOs, and abandoned assets.
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