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SÃO PAULO – Last year, there was much talk of so-called OICs, with thousands of new digital badets launched in the last 18 months. However, now, at a time of greater consternation among investors in this market, more than 800 crypto coins can already be considered "dead," says the Dead Coins website.
Faced with the euphoria of digital currencies, many projects were launched in 2017 in which companies created their own tokens. The idea is for the company to get some form of financing, while investors can "bet" on these projects, by buying a new digital currency at a great price, believing that it's a good idea. she can make a lot of money.
Last year alone, 8 billion through ICO, while this year the number reached 11.9 billion, according to CoinSchedule data. The problem is that many of these projects were fraudulent or simply did not work and that they had no way to recover.
These "dead" coins are now 829 chips, which according to Dead Coins is worth less than $ 0. , 01. Part of the failure of many of these projects is also due to the collapse of Bitcoin, the world's largest digital currency, which has already fallen 70% since its peak last December.
The combination of many cases of fraud with this significant loss of value of the major cryptography has weighed on these small projects, but some are enthusiastic to the idea that this could change in the months to come. In the face of regulatory definitions, which some badysts deem positive, a new Bitcoin rally could trigger a big wave of ICO in the second half.
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