Nearly a Thousand Cryptocurrencies Fail Each Year
Since the emergence of Bitcoin in 2008, the number of alternative cryptocurrencies has grown significantly. According to CoinMarketCap, there are currently close to 9,300 cryptocurrencies in circulation, but research from CoinGecko reveals that over the past nine years, 7,368 cryptocurrencies have failed.Many of these cryptocurrencies, which have been introduced over the years with the development of blockchain technology, have been abandoned by both developers and investors. While CoinMarketCap lists 9,295 active cryptocurrencies, CoinGecko's research shows that 7,368 cryptocurrencies have been abandoned and classified as "dead" since 2014.Kutluhan Akçın, the Turkey Operations and Business Development Director at Gate.io, shared his thoughts on the matter, saying, "The expansion ...