A new research has highlighted the number of cryptocurrencies that have failed to live up to the expectation since going live amid the prevailing 2022 bear market.
In particular, about 951 cryptocurrencies listed on pricing site CoinGecko across 2022 have been declared ‘dead’ or ‘failed coins’, a new research published on November 29 indicates.
In determining the dead coins, the study noted that it reviewed cryptocurrencies that may have been off the site due to a shortage in trading activity within the last two months. At the same time, the tokens were rendered dead after being deemed a scam or requests for deactivation.
“The last bull market run that started in November 2020 saw a spike in cryptocurrencies listed, with more than 8000 cryptocurrencies listed in 2021. As of today, nearly 40% have been deactivated and delisted from CoinGecko,” the research said.
Number of dead coins chart. Source: CoinGecko
According to the study, the 2022 figure of dead coins represen
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