As of the 6th of April 2022, 1705 coins have been reported as dead or inactive in the crypto ecosystem. The death-like situation of these thousands of tokens results from idle developers, absent liquidity, website unavailability, or other similar problems.
Some notable coins that were reported as dead on 99Bitcoins include Adrenaline Coin (ADN), Zombie Coin (ZMB), and Wealth Chain Token (WCT).
Investors discovered that many of these coins now had a zero social media presence, were not indexed or listed on exchanges as projected in their roadmaps and had shallow volumes that made trading impossible.
Some other projects had great plans from the founding but were later abandoned by the developers due to lack of funding and other obstacles. However, many of the dead coins were a fad from the start, destined to be rug pulled.
Crypto Scams Are Killing Coins
The numerous scams in the crypto ecosystem have restrained a lot of angel investors from investing in seed projects. Many tokens have turned out to be nothing more than a Ponzi scheme.
Between 2017 and 2018, Bitconnect, a supposed cryptocurrency, offered an “investment opportunity” with a 1% daily return to investors. As expected, after a year, the project failed, and many investors lost their hard-earned money to the crypto project.
Another famous scam is the SQUID GAME token launched after the Netflix series became very popular. The token was in no way affiliated with the real owners of the Squid game movie. After rising from $0.00079 to as high as $2800 in November 2021, the project’s founders removed liquidity and made away with investors’ funds.
The token’s value is back to $0.0192, and the community currently runs the project after it was abandoned by the developers.