Coinopsy basically keeps a record of all dead crypto projects.
Have you ever thought or wondered how many cryptocurrencies have come and gone since Bitcoin appeared 12 years ago? These figures are current until May this year so 6 months old. 10,025 cryptocurrencies which is a shed load have been launched with over 20 percent having disappeared due to failure. 2430 tokens (current data) according to Coinopsy have come and gone.
I have often wondered why most of the Crypto projects that actually offer uses cases are so undervalued in comparison to others. Whether it is in market cap or the token price many projects seem to be kept down on purpose. Is this out of fear knowing they have use cases and many of the other projects that are clearly being manipulated don't have any?
Over the months and years we have been involved in Crypto we have seen projects come and go and this will continue to be the case. These projects all had a few things in common being price and no use case.
The one thing about Crypto is it is a leveler as at some point in time any project that offers nothing will disappear forever. This may take time, but at some point common sense and sanity prevails making way for what we have seen on projects like Luna and FTT.
As investors what we should be doing is not following the crowd, but uncovering the hidden gems with every day use cases. This takes time and effort and why this is not a popular choice by the masses. This however is where the real wealth is in crypto as in time these projects will rise in value as they cannot go to zero.
Just because a project is not in the top 100, 200 or 500 by market cap does it make it a bad investment as it is the complete opposite if it has a daily use case. This is where investors should be hunting as that is where the next gem is hiding.
A token like FTT having an all time high of $85.02 is what is wrong with crypto whilst other projects struggle to hit $1. Manipulation and leverage is what is wrong with crypto today and why so many lose so much money along with their trust in crypto.
Knowing the projects you have invested into are undervalued in comparison should make you bullish for the long term. These projects cannot stay hidden forever as development along with real use cases will bring value no matter what.
Blockchain technology with crypto will be the next big thing for the foreseeable future as this is the worlds answer to the problems we have been facing. Crypto is a risk, but the greater risk is to not be involved as this is where the future is heading.
Whatever we have all learned over the last cycle is that the projects that have continuous development are the projects worth backing as this is all hidden monetary value. Most of what we see today may or may not be around in 5 years time as there are not many who have use cases.
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I have a huge folder full of bookmarks of crypto projects that I have been looking at over the years. I think I am going to start doing a series where I cover some of them each week or something like that. I will have to wait and see just how many of them are unique.
That sounds like a good idea and maybe we will learn something new which is great.
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I have none of these. I just pick some coin, mostly based on intuition or community shill, and go all in... I have to admit I don't do much research, but I admire those who do.
So many have come and gone. Hive still hangs in there with plenty of use cases.
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Plenty will still vanish. Hive is great along with a handful of others.
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Wow, 2430 is a wild number. Now to think about it most of this cryptos died out because of manipulation. In the last few months we have seen what manipulation really looks like; Luna, FTT, Celsius and Defi and the list goes on and on.
This makes me even shy away from exchanges now. I think for now cold wallets are the way to go.
The reason why a lot of people(including myself) wont spend time researching on projects is the get rich quick mindset we have. We do not want to take our time and know before we do , we prefer doing before even thinking and sadly this is putting us in tight situations. My only hope is that no exchange goes down again this year.
This not doing the research is why so many fail in crypto and will continue to do so. Take the time and find a few yourself as otherwise you are no different following others.
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This days with all that is happening am sure a lot more people will make their research before even thinking about investing. This will help people invest in good and worthy projects only
People underrate the amazing Hive token, which has distinguished itself as one of the best.
Hive will endure the test of time, and in 5 years, it will still be one of the best.
We should all take advantage of the chance to invest in Hive for future usage.
Thank you for sharing this, you are amazing
That's too much. I wonder how much are the total casualties of these. Crypto is risky because of the bad actors and misinformation. The second one can be solved in due time. Web 3.0 will be very helpful to solve illiteracy and misinformation.