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RE: 2000 Cryptos In The Crypt

in #money6 years ago

The crypto hype was overwhelming last year. We speak of absurdly high trading volumes, coins that rose by 800% in value and product manufacturers who were no longer able to meet the enormous demand. At the same time, a dangerous gold rush sentiment penetrated the market. Millions of ignorant investors suddenly craved their own piece of the pie. Many invested with totally unrealistic expectations in dubious and often fraudulent 'cryptocoins'. There was often no question of interesting projects. Marketers with a very shrewd business instinct were just responding to our capitalist minds.

The fierce price corrections of the past few months creates an externally boring phase in the crypto market, which is however extremely important for the continued prosperity of this still young market. Trading platforms can now finally expand their infrastructure, adapt their security architecture and focus on the future. The countless ICOs that have raised money in the past year can and must ultimately achieve visible results from the capital entrusted to them.

At the same time, with these many price corrections and the falling euphoria, the market is really starting to act up. Coins that only sell air and have no other technological substance than marketing are eliminated from the market at this stage. the site deadcoins that you gave as an example is proof of this.

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totally agreed. we should see lesser ICO from next yr onward, either its much more difficult to successfully create a coin or even grander plan of deception.

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