According to Coinopsy, a website that maintains statistics for “dead” cryptocurrencies, 264 altcoins did not make it through the bear market in 2018. More than half of dead coins (144) were associated with ICOs.
The catalog of dead coins maintained by Coinopsy comprises 264 crypto projects that were active at the start of 2018, but failed to survive throughout the year. The website defines a dead coin as comprising “a token or coin that has been abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.”
Dead coins are divided into four categories, namely, failed ICOs, jokes, scams or abandoned projects.
Of the 264 cryptocurrencies that did not make it through 2018, 55% (144 projects) were ICO tokens launched in 2017.
The second largest category of dead coins is made up of the projects abandoned by their developers and accounts for 27% of the total “death toll”. Another 20% are suspected of being scams.
It is also worth noting that according to a report published by one of the world’s largest audit and consulting firms Ernst & Young in October 2018, 86% of ICO-related tokens dropped in value below their initial price.