Creating a cryptocurrency project has become trend in 2017 and 2018. There were a lot of developers launching projects in these years. Some developers earned high investment. A few of them continued the project but many of them closed or abandoned their projects. In 2024, failed crypto projects declined.
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The highest failure of crypto projects based on coingecko data in 2021 and 2022. More than 5,700 coins died in 2021 and 3,500 coins died in 2022. Yet, in 2023, the dead coins declined sharply. It was only 289 coins.
https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed
Here are indicators that a coin may be dying. I take the summary from https://99bitcoins.com/deadcoins/
- Inactive developers.
The developers are not active in continuing the projects. - Inactive in social media.
It is a sign that a developer of crypto may have left the communication channel to their users. - Low trading volume.
If you want to invest in a new coin, you'd better see the trading volume. It is recorded daily, weekly, monthly and yearly. Low trading volume indicates that the coin has low demand. It is not good to invest it in. - Not listed on many public exchanges.
Some coins are listed in one or two public exchanges or decentralized exchanges. If a coin is only listed in one or two exchanges, you should think about the reputation of the exchanges. - The website is down.
If the website is down. It is a strong indication that the coin has been left. It easy to understand that the developers do not pay the hosting costs.
Those are four indicators that a coin is dying or left by the developers. Do the dead coins exist in hive-engine? In my opinion there are some coins that die in hive-engine. I do not want to mention but you can make research by yourself based on 5 indicators.
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