Top-5 Crypto Tokens Pronounced 'Dead'

Published on by Cointele | Published on

Bitcoin still dominates the portfolios of most crypto investors and is by far the most popular cryptocurrency, meaning its price is less prone to drops than the rest of the market.

In 2018, CNBC reported that approximately 800 cryptocurrencies, which appeared as a result of initial coin offering, can now be called "Dead," because they are traded at a price below $0.01.

Here are our top-five dead cryptocurrencies - which were terminated by their founders - that turned out to be scams or had trading volumes of less than $1,000 for three months.

The entry, withdrawal and exchange of the NEM cryptocurrency takes place on exchanges.

One of the largest cryptocurrency exchanges in Japan, Coincheck, confirmed in January 2018 that a large scale theft of funds from the platform has taken place.

While the management of the company was figuring out their differences, the daily trading volume of tokens hardly managed to reach $42.000, the liquidity was almost absent and the HitBTC exchange delisted this cryptocurrency.

The purpose of the cryptocurrency is the same as the original Bitcoin, as a means of payment that is convenient for online purchases.

According to the statement, customers switched to websites related to cryptocurrency, on which they were asked to enter a password, and their BCD tokens were subsequently stolen in a classic case of website cloning.

Only the strong surviveNo matter how low the price of a cryptocurrency falls, it can go even lower until it reaches zero, as was the case of BitConnect.

"Cryptos developed because of BTC. The cryptocurrency story is a Bitcoin story. It is difficult for me to specifically name those coins that will be worthless, but I genuinely believe that 99% will become worthless because their origination was driven by an attempt of a person, company or consortium to ride the coattails of Bitcoin. I believe that LTC and ETH have a good chance to retain value because of their already mass acceptance. On the other hand, I believe that niche coins and coins largely controlled face an uphill journey."