There are over 18,000 cryptocurrencies in circulation as of April 2022. With a number this large there are bound to be many cryptocurrencies that fail, although some harder than others.
- Deadcoins are cryptocurrencies or tokens which have become inactive or infeasible. This can happen if they’ve been found to be scams, been abandoned, delisted on exchanges, failed ICOs, or just outright failed.
- Data taken from 99Bitcoins shows that there are currently 1705 deadcoins, as of April 21st, 2022.
- There has been around a 9% increase in failed coins since last year, according to data strictly taken from 99Bitcoins. In February of 2021 99Bitcoins had 1551 deadcoins listed on their site.
- Popular examples of Deadcoins include; BitConnect ($BCC), BitconnectX ($BCCX), Ethereum Lite ($ELITE), Storeum ($STO), and Vegascoin ($VGC).
- In 2021 alone, over US$2.8B was stolen from investors through various scams and schemes according to Chainalysis.