Keeping track of defunct cryptocurrency projects on your own borders on impossible. Even if you entered the crypto space soon after Satoshi and stayed hooked ever since, you most likely don't know the quarter of it. Coins and tokens have been popping out of nowhere and vanishing into the void.
There isn't a definitive statistic on exactly how many cryptocurrency endeavors fail or turn out as scams, but the proportion most likely exceeds 50%. According to CoinGecko, since 2014, 14,039 out of 24,000 cryptocurrencies listed on the website exist no more. As per CoinKickoff, cryptos live 15 months on average, with the older ones being more likely to go bust.
Counting the dead. How many coins and tokens have gone extinct?
There have been more than several attempts to count the dead coins with breakdowns, summaries, and even digital graveyards available for visit. However, they are hardly exhaustive, show only part of the story, or are short on functionality and user-friendliness.
One example is the "Dead Coins" section of the 99bitcoins website, where you can find defunct projects listed by name and ticker. Each entry contains death indicators with brief explanatory notes. Overall, nice effort, but the page lists only 1774 dead coins – a small fragment of the big picture.
Another attempt at counting the dead of the cryptocurrency world is the "dead coins" section at Coinopsy. It's an infinite scroll page showcasing failed projects in a compact, boxed arrangement with only basic information provided. It's not very intuitive and hardly user-friendly.
Here's an infographic from Virtual Capitalist to give you a rough idea about the numbers of notable failures and reasons for leaving the crypto landscape, which include desertion, scams, rug pulls, ICO failures, and lack of purpose as mere jokes.
The Crypt provides comprehensive access to a dead crypto history
The last foray into the crypto netherworld is The Crypt tool launched by Coinigy, a crypto trading platform and portfolio manager, at the beginning of May. The Crypt is a feature within the Coinigy ecosystem. Unfortunately, it is available only for registered users with a Pro Trader subscription.
The Crypt provides access to historical data from inactive exchanges and delisted crypto projects on Coinigy, reaching back to early 2014. According to the press release, the new feature "offers insights from the early days of cryptocurrency exchanges such as BTC-e, Cryptopia, and Mt. Gox."
The Crypt offers access to a rich database of information on historical projects, including price history and trading volumes. Being a part of the larger, user-focused ecosystem, the feature stands out for its intuitive interface, easy navigation, and data accessibility. The Crypt also boasts comprehensive coverage spanning the period from Bitcoin's early days to recent closures and offering insights into a broad swath of cryptocurrency history.
