The Bear Market Killed Off Nearly 1,000 Coins, Tokens and Projects
Besides hurting leading digital assets and throwing curveballs to B-list coins, the bear market completely obliterated a series of scams, parodies, and general money-grabbing schemes.
The crypto space has seen a steady inflow of new projects fighting for their time in the sun. The bull market in 2017 caused a new crop of coins and tokens to spread through niche exchanges. Those assets had a small following and did not line up among the best-known coins. The bear market has destroyed most of those assets, data from Dead Coins shows.
However, some of the minor coins and tokens remain alive, with the potential for scamming more users. The low-level activity, and the presence on EtherDelta and other decentralized exchanges, however, does not expose those coins and tokens to many users.
This is not the first dying-out of digital assets. In the past, periods of optimism and bull markets led to the creation of many types of coins. At one point, anonymous coins could be generated by anyone, and they were built and died by the thousands.
In 2018, getting an exchange listing became more and more difficult, meaning even an ambitious but newly-created coin lacked liquidity. Delistings have damaged the price and liquidity of many coins in 2018, including Bytecoin (BCN), which had renewed its marketing efforts but failed due to high volatility. Poloniex also cut down a part of the crypto ecosystem by delisting a series of coins due to low activity.
Among the coins that died in 2018 were notorious scams such as BitConnect and DavorCoin.
However, some assets have proven resilient. Bitcoin (BTC) remained unchallenged in 2018, despite the numerous hard forks and a relatively strong altcoin season. Ethereum (ETH) survived the shakedown, at least for now, and is one of the largest organizations in the crypto world. Other coins and projects are seeing headwinds. ICOs such as Civil went as far as to return funds, and the Basis stablecoin also returned funds to its backers, after regulations prevented it from launching an algorithmic stablecoin.