In 2014, Coinmarketcap counted 67 cryptocurrencies, but in 2021 their number exceeded 12,600. Some projects emerged others suspended activities. But overall, the crypto space is constantly expanding. Why not analyze the market over the last four years to find out which cryptocurrencies are the most unpromising? There are many more promising projects worth investing in at alligat0r.
TenX was seen as a cryptocurrency payment service. It could be used to make instant payments via Mastercard and VISA cards. In 2017, the price of TenX soared to $60. Over the past four years, however, it has failed to recoup even a fraction of its lost ground. At the moment, the token is trading at around $0.06. Since Mastercard and VISA have already entered the cryptocurrency market, no one needs TenX anymore. We should not expect any growth from this cryptocurrency.
Bitcoin Cash (BCH)
Bitcoin Cash is the most famous fork of bitcoin, which was able to rise to almost $4000 in the crypto boom. But over the years, it has fallen to $200 and never managed to renew its high, even in the 2021 rally. Investing in Bitcoin Cash is definitely not a good idea.
EOS is an ICO project that raised a record $4 billion through tokenseal. This project is almost centralized, has a mediocre reputation in the market, and is quite manipulative.
In April 2018, the price of EOS reached $23. This was blamed on developers’ claims that EOS would become the leading platform for dapps and smart contracts. As a result, Ethereum has remained in second place. EOS has slipped to 41st place in Coinmarketcap and is trading at $4 instead of $23.
Salt looked like a promising project. But in the end, it failed, just like all of the above. Salt’s creators wanted to launch a P2P lending and bidding platform. But then, Compound and Uniswap took over the niche. Now salt is forgotten about.
As for the salt price, salt first rose to $20 and then dropped to $0.10. Many years have passed, and SALT is still trading at a low of about $0.22. The failure and scam here is undeniable.
XRP has a closed code. The blockchain itself is centralized, so the issuance is virtually endless. The reputation of the developers is not the best. XRP hit a historical high of about $3.60 in January 2018. After that, the price only fell until it reached $0.16. XRP currently trades around $1 and is unlikely to ever rise. It would be a smart decision to switch from XMR to DOGE before it finally collapses amidst the U.S. litigation.
NEO is the so-called “Chinese killer of Ethereum.” It has never been able to kill anyone in its five years of operation. NEO’s price reached $200 in late 2017, but failed to repeat the scenario in the spring of 2021. The recent rally to $110 is not what market participants expected. Therefore, NEO can be buried.
That’s why we’ve highlighted the brightest representatives of the crypto market in the past. Due to the emergence of new projects in the crypto space (IEO, DEFI, GAMEFI, NFT), all of the above coins failed to conquer new heights.