RATE Group | This Class of Once Hyped Altcoins Is Headed To Zero
77277
wp-singular,post-template-default,single,single-post,postid-77277,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

This Class of Once Hyped Altcoins Is Headed To Zero

27 Jan This Class of Once Hyped Altcoins Is Headed To Zero

Posted at 21:38h in Ethereum News by

[ad_1]

The crypto market is driven almost solely by hype and speculation, especially when it comes to altcoin assets outside of the top ten cryptocurrencies by market cap.

One subset of once-hyped altcoins is now approaching an average return of 0% after 200 days, suggesting that no one in their right mind wants to hold this type of crypto asset.

Preying on Promise: IEO Altcoins Approaching Zero Percent Returns

All throughout 2017, alongside Bitcoin was the rise of Ethereum, propelled primarily due to the initial coin offering boom and the explosion of new altcoins being built on top of the Ethereum protocol.

ICOs became the crowdfunding method of choice for many companies and projects during the crypto hype bubble, bypassing regulatory red tape and raising funds quickly.

Related Reading | Exchange-Related Tokens Dominate Crypto ROI Last Year

However, many of these ICOs were launched illegally, and without following International securities laws. The result was project backers receiving fines…

[ad_2]

Source link