Bitcoin, Ethereum (ETH), Ripple (XRP), Monero (XMR) are the headline grabbers for crypto
(there are others of course, forgive me if i have left out your favourite).
But what about all the lesser known?
Coinmarketcap surveyed the field, using data going back to April 2013. It found:
- more than 860 defunct cryptocurrencies, which is around 40% of them
And, that number does not account for the many more cryptocurrencies that failed to launch after their initial coin offering (ICO)
And:
- The average lifetime of defunct cryptocurrencies is around 327 days
- Average lifespan of surviving cryptocurrencies is around 513 days
How does BTC impact on smaller cyrptos?
- In March 2016 bitcoin fell around 25%
- This triggered a surge of cryptocurrency extinctions
Is it just tiny cryptos that fail?
Well, no. Some of the failures had achieved quite high valuations. For example:
- ROUND had a peak market capitalisation of 193 million USD
- DAO coins hit USD $160m
Read more at:
http://www.forexlive.com/news/!/re-bitcoin-the-survival-rate-of-cryptocurrencies-is-low-here-is-the-data-20180111
