Cardano Receives Nasty Blow As New Report Dubs It The King Of Dead Coins
Summary
- AlphaQuest Research report lists Cardano as a top ecosystem with a high number of failed cryptocurrency projects. - 74% of Cardano's ecosystem projects are defunct, meeting AlphaQuest's criteria for a "dead" state. - Over 65% of potentially innovative projects have died since 2023, with 60% of inactive coins vanishing between 2020 and 2023. - Other blockchain networks with a substantial number of dead coins include Harmony ONE, NEAR Protocol, Zilliqa, Celo, and Moonriver. - After the Terra Luna crash and FTX debacle, 35% and 32% of crypto projects, respectively, were categorized as defunct. - Despite the high number of failed projects and scams, AlphaQuest emphasizes the crypto industry's resilience and ongoing innovation.
