The project collapsed in 2018, leading to a complete loss of value for the coin.
It gained significant attention but was ultimately revealed to be a Ponzi scheme. After Terra’s ecosystem collapsed, it lost around 40$ billion, and LUNA lost 99% of its value, which led to the coin’s death.īitconnect (BCC): Bitconnect was a cryptocurrency that operated as a lending platform and promised high returns to investors. The reason for this is that Terra Protocol’s algorithmic stablecoin UST has lost its peg to the United States Dollar, and instead of $1 it cost around $0.12 (as of 17.05). Terra Luna (LUNA): Terra Luna was in the top 10 projects by market capitalization, with a price of more than $80 per their LUNA coin.
Just in a few days FTT lost more than 80% of its price, which led to imminent death of the token. Let’s take a look at some of the examples of deceased coins that you might’ve heard in the past:įTX Token (FTT): FTX collapse was one of the most notorious events of 2022, which led to bankruptcy of many FTX’s investors, as well as FTX’ native token – FTT. However, there are some examples of cryptocurrencies that managed to get their own share of popularity and trading volume, making their names in the crypto space. Typically, these projects never leave the domain of decentralized exchanges. In fact, there are hundreds, if not thousands of dead coins that can be found on various DEXes such as Pancake Swap or Uniswap. There are quite a few dead coins a trader can find during their crypto trading journey. However, dead coins are characterized by their permanent state of inactivity, lack of development, and loss of value. Some projects may experience temporary setbacks or periods of inactivity due to various reasons, such as team restructuring or market conditions. While the concept of dead coins may seem straightforward, it’s important to note that not all inactive or dormant projects are necessarily dead coins. Essentially, dead coins are abandoned projects within the cryptocurrency ecosystem. These are digital assets that have lost their value, community support, or development activity.
#DOLLAR COIN WATCH HOW TO#
How to Understand if the Coin May Die Soon.
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