In the ever-evolving realm of cryptocurrencies, a recent report from CoinGecko is raising eyebrows. Brace yourself, because a whopping 58.5% of the digital darlings listed on CoinGecko since 2014 have met their untimely demise. Yeah, you heard it right—over half of these once-hyped assets have bitten the dust. So, what’s the deal?
A Graveyard of Dreams
CoinGecko’s Grim Stats:
- Out of a staggering 24 thousand cryptocurrencies, a staggering 14,039 are now pushing up virtual daisies.
- But what’s the criteria for being six feet under in the crypto world? CoinGecko labels projects as “dead” if they’ve been inactive for 30 days or are caught up in some shady business—crypto scammers, anyone?
- Also, don’t forget about the “deactivated” coins. These are the ones that either shut shop or underwent a makeover that turned their old tokens into mere ghosts.
The 2020-2021 Bull Run Fallout:
- Hold onto your digital wallets because 53.6% of the deceased crypto brethren were born during the 2020-2021 bull market frenzy.
- In those heady days, a staggering 7,530 tokens decided to take an early exit from the crypto stage. Blame it on the simplicity of token launches or the rise of memecoins—many of which, by the way, had zero products to offer.
A Rollercoaster of Failures
Startup Apocalypse in 2021:
- If 2021 were a crypto startup, it would win the title of the worst year ever. A jaw-dropping 70% of all projects from that year, a total of 5,724 cryptocurrencies, are now pushing up virtual tulips.
- And then, we roll into 2022. The graveyard gets a bit more crowded, with 3,520 cryptocurrencies kissing the crypto afterlife. That’s roughly 60% of the class of 2022.
The ‘Relatively’ Calm 2023:
- Fast forward to 2023, where over 4,000 coins made their debut. Surprisingly, only 289 decided to take an early retirement. CoinGecko noticed a sudden drop in the crypto death rate, with unsuccessful coins falling below the 10% mark.
CoinGecko’s Hidden Gems:
- In a fascinating revelation, CoinGecko disclosed that crypto projects have been playing Santa, doling out a whopping $26 billion in “free money” during airdrops in less than three years. Ho, ho, hodl!
- As a bonus feature, CoinGecko dropped a gem—a rating of the top 100 coins by capitalization, showcasing the stars of 2023 in terms of profitability.
Conclusion: Cryptos Rising, Falling, and Airdropping
So, there you have it—CoinGecko’s rollercoaster of revelations. Cryptos born in bull markets, scam-ridden schemes, and a surprising dip in the mortality rate. The crypto world continues to be a wild ride, with fortunes made, lost, and mysteriously dropped from the sky in airdrops. Keep your eyes peeled, fellow crypto enthusiasts, because the only certainty in this digital frontier is uncertainty.
