According to AlphaQuest's report, there are currently numerous dead cryptocurrencies on the market. Notably, Cardano and Terra are leading this anti-ranking. AlphaQuest specialists analyzed more than 12,000 blockchain projects before coming to this conclusion. The report reads that by the end of 2023, 65% of issued cryptocurrencies had disappeared, and 72% of digital assets launched during the bull rally of 2020-2021 proved to be insolvent. Furthermore, Cardano and Terra emerged as leaders among the dead cryptocurrencies. With 74% of all launched projects, they topped the list of networks with inactive blockchain projects. Last year was the most challenging for the crypto industry, analysts note. In addition, between 2020 and 2023, 59.4% of digital assets lost viability. The mass death of digital currencies on the Terra network was triggered by the collapse of the ecosystem due to the bankruptcy of Terraform Labs. Meanwhile, the disappearance of cryptocurrencies issued on the Cardano blockchain is attributed to the small number of users. Analysts estimate the average lifespan of cryptocurrencies at three years. As for the deceased digital assets, they lived for 2.2 years. Meanwhile, 11.7% of those cryptocurrencies lasted no more than six months, and 21.8% died after celebrating their birthday only once. However, 22.4% of digital assets survived to the age of four. AlphaQuest concludes that this offers some hope for the industry.
