Cardano blockchain, a great graveyard for dead digital currencies!

AlphaQuest reviewed and categorized cryptocurrency projects using four criteria: low trading volume or liquidity, inactive or deleted X (Twitter) accous, defunct websites, and removal from the CoinMarketCap platform. Further details of the report show that most of the projects under review are dead by 2023.

Last year was a critical year for digital currency projects with almost 60% of coins dead. During this period, 93% of the projects had low transaction volume and liquidity, and 58% of them had deleted or inactive accous or websites.

Further examination of the report reveals that 75% of the dead projects were in the video game and music sectors. Also, 75% of asset-backed stablecoins have also failed.

In addition, 51% of Metaverse projects are considered dead. Despite the many failed projects in the Cardano ecosystem, AlphaQuest poied out that several other projects, such as WanChain, a deceralized ier-blockchain collaboration solution, have performed well and gained considerable notoriety.