Almost 1,000 cryptocurrencieshave died in 2022, according to data from Stadista and CoinDecko. It is a very high figure, but by no means a record. In 2021, 3,322 disappeared cryptosand in 2020, 1,320 cryptocurrencies and tokens.
The analyst firm stadista has calculated that at the beginning of 2022 there were 10,397 cryptocurrencies, and currently only 9,310 cryptos remain. It is a very similar data to that offered by Coindeskwhich estimates that in 2022 951 cryptos have died.
These cryptocurrencies continue to exist on the blockchain, and their transactions can be verified. But no one has used them for months and they are worthless.
Most of them have died because they had no liquidity or transactions, which makes them lose value until they fall to zero. others were simple scam attemptssome with success.
Here you can see the statistics of dead cryptoin 2022and in recent years:
It seems normal that the figures are very high in 2020 and 2021. Those were the years of the “boom” of cryptos, and since they are easy to create, many people rushed to develop their own cryptocurrency to fulfill his dream of becoming an instant billionaire.
It is logical that the dead cryptos in 2022 be less, because almost 5,000 cryptocurrencies were already lost in the previous two years, so there were much fewer left on the market.
And the number is going to increase, if things continue the same. In 2022, the cryptocurrency market has lost no less than 72% capitalization in 2022according to Tom’s Hardwaregoing from a valuation of 2 trillion dollars in 2021, to only 850,000 million in 2022.
The crypto market has yet to recover from the FTX crash, and it’s going to cost you. The invasion of Ukraine, which has led to high inflation, less globalization, and an unstable and fearful market, is not helping.
Despite everything, those 1,000 dead cryptos in 2022 not necessarily a bad fact. Most were frauds or low-quality cryptos that do not contribute anything. A healthier and stronger market will emerge from here, if it manages to get out of the crisis…
