CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$26,637.00
  • ethereum
    ETH$1,589.90
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Dead Altcoins: Overwhelming Number of Crypto Projects Without a Single New Line of Code in 2019

    Dead Altcoins: Overwhelming Number of Crypto Projects Without a Single New Line of Code in 2019

    Author: Jordan Lyanchev

    Last Updated Nov 11, 2019 @ 14:10

    ICOs were undoubtedly a hot trend back in 2017 and 2018 during the parabolic bull market and the subsequent selloff. Ever since then, their prominence has stalled and a recent report shows why that might be. Remarkably, 640 out of 2,000 reviewed ICOs haven’t added or written a single line of code in 2019, and in some cases, the lack of activity is even more alarming.

    ICO Projects Lie Dormant

    A report from Coincodecap which looked at over 2,000 cryptocurrencies revealed that 32% of them hadn’t written or added a single line of code in 2019. Despite this inactivity, their current combined market cap is more than $415 million.

    Most of these inactive projects were launched in 2018, with a few exceptions. The largest inactive project is called Proton, and it saw its last days of coding exactly a year ago. Still, it has the largest market capitalization among inactive cryptocurrencies, $85 million. BQT follows with $45 million, and Sprouts comes in at $32 million – both without any code commits since 2018.

    Exchanges with the Most Listings

    The report also revealed which exchanges have listed the largest number of dormant projects. 12 exchanges were found to have listed more than 10 such ICOs. YoBit listed 62, followed by CoinExchange (39) and Crex24 (30).

    It’s worth pointing out that some of those exchanges charge high fees when listing various coins, as they don’t generate sufficient revenue from trading, according to the report.

    Regulations and Improvements

    The document proposed the introduction of “a self-regulatory market to perform its fiduciary duty [that] will not expose customers to these harmful assets.”

    As CryptoPotato reported, Vitalik Buterin offered a possible solution for the scammy nature of some ICOs at a recent Ethereum summit:

    “This is a spin on the ICO idea that I had one and a half years ago. So the idea is, instead of projects having ICOs where people will just send them the money, and they, well, go away, you have a scheme where people put their tokens into a smart contract. […] The developers don’t just have access to the tokens, they can’t take them. Instead what happens is the money gets put in a compound, or some other interesting thing […] and then the interest goes to the developers.”

    The initiative which Buterin dubbed “Public Interest Projects” makes use of one of the hottest trends of 2019, Decentralized Finance (DeFi).

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    Tags: Altcoins ICO
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$26,637.00
  • ethereum
    ETH$1,589.90
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    Deep Dive into Ethereum: What Changed A Year Post-Merge?

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    The Reports of Friend.tech Death Have Been Greatly Exaggerated (Opinion)

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    Exploring PayPal’s Foray into Cryptocurrency: A Game-Changer in Digital Finance

    DeFi Without Native Rights Is Dead

    DeFi Without Native Rights Is Dead

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    How Does the Shiba Inu (SHIB) Burn Work: Everything You Need to Know

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    Crypto Will Go Away If There’s No Privacy: Interview With Anoma and Namada’s Adrian Brink

    What Is Shibarium? Everything You Need to Know About Shiba Inu’s Blockchain

    What Is Shibarium? Everything You Need to Know About Shiba Inu’s Blockchain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!