These Top 5 Cryptocurrencies May Die Soon; Are You A Holder? – Crypto News

The ongoing crypto winter and crisis have hit the market hard. Everyone seems to be dumping high-risk assets and consolidating their portfolios to include only the best coins or tokens.

As the market consolidates and investors become more risk averse, the likelihood of nascent crypto projects, that have yet to prove their worth, failing to survive grows exponentially.

Hence, it’s imperative that you remain invested only in those projects that you understand and truly believe in. Here’s a list of crypto coins that may struggle to survive in the coming years.

1. Po.et (POE)

The Po.et project began in 2016. It is a decentralized protocol aimed particularly at the publishing business. Poet timestamped information about creative content on the blockchain. It uses open protocols that were designed for interoperability with contemporary media and publishing industry standards.

The red flags we came across:

POE is listed on only one exchange, ie, HitBTC.

Not a very active community on Twitter, last tweet was made on 15th January 2021

Market capitalization is just around $36,481 and the trading volume is around a few hundred dollars (a few dollars on some days).

The prices of the coin has been more or less stagnant for the last 3 years.

according to Cryptomisowhich ranks cryptocurrencies based on Github activity, this project was last updated on September 15, 2018.

2. Bounty0x (BNTY)

BNTY is an ERC-20 token that powers the Bounty0x Network. It is a decentralized bounty hunting platform that allows anyone to manage bounty programs and reward bounty hunters for accomplishing bounty missions.

The red flags we came across:

Not a huge community or following on Twitter (around 9k followers)

according to Cryptomisothis project was last updated in May 2018.

The price of the BNTY coin has been somewhat stagnant for the last 3 years (unable to break the barrier of $0.1; currently trading around $0.0006).

Currently, its market capitalization is around $141,000, with a trading volume of around $16,000 (as of writing this).

BNTY is listed on only one exchange. ie, Gate.io

3.Cream CRM

CRM is also one of the troubled cryptocurrencies. It is based on the X11 chained hashing algorithm, which is used for the ‘Proof of Work’ calculations.

The red flags we came across:

Currently, CRM’s market capitalization is just around $39,000, with a 24-hour trading volume of just a few dollars in the last seven days.

Currently, the price of CRM is just $0.000086, and has seen a gradual decline since 2018.

according to Cryptomisothis project was last updated in April 2018.

Not a very huge following or signs of strong community on Twitter as of writing this (Around 8K followers).

4. MimbleWimbleCoin (MWC)

MimbleWimbleCoin was launched in 2019, with a “mission to match and exceed every other good in the market with regard to the ten primary monetary characteristics in order to produce a good that is the superior qualitative money. Good money in the Information Age is (1) recognizable, (2) scarce, (3) censorship resistant, (4) durable & indestructible, (5) extensible, (6) salable, (7) portable, (8) fungible, (9) private and (10) divisible.”

The red flags we came across:

Not a very active community or following on Twitter (5k followers as of writing this)

MWS’s price has been very volatile, but over the years it has plummeted from $27 to $0.9 (as of now).

Its current market capitalization is around $10 million, but the daily trading volume is around a couple hundred dollars (in the past few months).

MWC is listed on only one exchange, ie, Tradeogre.

5. Peercoin (PPC)

Peercoin was launched in August 2012 and is built on the Bitcoin framework.
It stores value, provides complete anonymity, and can be sent over the internet with no central authority (such as a bank). It was the first digital currency to use a hybrid consensus method that combined proof-of-stake (PoS) and proof-of-work (PoW).

The red flags we came across:

Regardless of volatility, PPC has seen a gradual decline in price in the last 2-3 years, currently trading at $0.4176.

Currently, its market capitalization is around $11 million, with a daily trading volume of a few thousand dollars (In the last 3 months, as of writing this).

Peercoin has yet to enter the mainstream. Currently, it has a community of 39k people on Twitter.

Disclaimer: This Is Not A Financial Advice. Please Exercise Your Discretion.

Also Read: Top 3 Altcoins to Add to Your Portfolio for 100x Gains in 2023

Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet. Contact him at [email protected]

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.