Hard to Kill: Research Finds Even ‘JokeCoins’ Have a 1.4 Year Lifespan
Marie Huillet's original article for cointelegraph.com reduced by 45%
Blockchain education platform Longhash has analyzed data from crowd-sourced sites to assess why certain cryptocurrency projects have wound up in the industry's graveyard. Cryptocurrencies whose fate culminated in death by abandonment - i.e. when investors stop trading an asset and its volume drops to zero - had an average lifespan of 1.6 years, according to Longhash.
The peak scam era was purportedly 2017, when the number of such projects spiked five-fold, as Longhash's infographic indicates. Longhash makes a note of several individuals implicated in three different dead alleged scam projects on the list - citing Bitcointalk user "Crunck" and an individual using the name "Daniel Mendoza." The last category identified by Longhash is joke projects such as AnalCoin, BagCoin and BieberCoin. These account for 3.2% of projects in the graveyard, with an average lifespan of 1.4 years.
Cointopsy reportedly lists 705 deceased projects, DeadCoins lists 1,779, and CoinMarketCap includes over 1,000 projects with less than USD $1,000 per day in trading volume - arguably dying, if not absolutely lifeless.
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CN [too long; didn’t read]
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