Cryptocurrency
33 Signs that Bitcoin Growth Isn’t Slowing in 2016
33 Signs that Bitcoin Growth Isn’t Slowing in 2016
It’s been a year of mixed results for cryptocurrency enthusiasts and speculators.
The biggest positive for Bitcoin is that it was actually the best performing currency this year, ahead of the US Dollar and the Israeli Shekel. Bitcoins have climbed a solid 21% in value over the course of the year in USD terms, and even more relative to other currencies. While the cryptocurrency hasn’t reached the heights it did in 2013, this is still a sign of positive strength.
On the other hand, mainstream news around Bitcoin over the course of 2015 has been distracting at best.
Ross Ulbricht, the man supposedly behind Silk Road, was sentenced to life imprisonment in May without the possibility of parole.
More recently, the Hunt for Satoshi has also heated up. Wired and Gizmodo subsequently both published reports that former Australian academic Craig Steven Wright was the creator of Bitcoin. Within hours, his house was raided by Australian police as part of an “unrelated” case. Days later, Wired rescinded its affirmation that Wright was the creator of the cryptocurrency, and instead asserted it was an elaborate hoax.
Lastly, despite close to $500 million in venture capital going into cryptocurrency-related pursuits, so far there hasn’t been any breakthroughs or apps that have captured the public’s eye. There has been progress and recognition around the merits of blockchain technology, but ultimately Bitcoin remains in the trough of disillusionment.
Bitcoin Growth in 2016
Today’s infographic highlights 33 signs that growth in Bitcoin will not slow down in 2016.
In our opinion, here are the most important reasons:
- The total amount of VC investment in Bitcoin since 2012 is $927 million. Over half of this investment has occurred in 2015 alone.
- World-class merchants now accept bitcoins for payment, including: Microsoft, Dell, Expedia, Dish, Overstock, TigerDirect, and Intuit.
- Transaction fees with bitcoins are extremely low: 0.0001 BTC per 1000 bytes.
- Daily transactions occurring with bitcoins amount to about $289 million per day. This is comparable to Paypal ($397 million), Square ($362 million), or Western Union ($216 million).
Original graphic by: BargainFox
Technology
Charting the Number of Failed Crypto Coins, by Year (2013-2022)
We visualize over 2,000 crypto failures by year of death, and year of project origin. See how and why crypto projects die in these charts.

The Number of Failed Crypto Coins, by Year (2013-2022)
Ever since the first major crypto boom in 2011, tens of thousands of cryptocurrency coins have been released to market.
And while some cryptocurrencies performed well, others have ceased to trade or have ended up as failed or abandoned projects.
These graphics from CoinKickoff break down the number of failed crypto coins by the year they died, and the year they started. The data covers a decade of coin busts from 2013 through 2022.
Methodology
What is the marker of a “dead” crypto coin?
This analysis reviewed data from failed crypto coins listed on Coinopsy and cross-referenced against CoinMarketCap to verify previous market activity. The reason for each coin death was also tabulated, including:
- Failed Initial Coin Offerings (ICOs)
- Abandonment with less than $1,000 in trade volume over a three-month period
- Scams or coins that were meant as a joke
Dead Crypto Coins from 2013 to 2022
While many familiar crypto coins—Litecoin, Dogecoin, and Ethereum—are still on the market today, there were at least 2,383 crypto coins that bit the dust between 2013 and 2022.
Here’s a breakdown of how many crypto coins died each year by reason:
Dead Coins by Year | Abandoned / No Volume | Scams / Other Issues | ICO Failed / Short-Lived | Joke / No purpose |
---|---|---|---|---|
2013 | 9 | 0 | 0 | 0 |
2014 | 277 | 20 | 5 | 2 |
2015 | 223 | 27 | 1 | 2 |
2016 | 152 | 22 | 4 | 5 |
2017 | 169 | 71 | 46 | 6 |
2018 | 390 | 237 | 112 | 12 |
2019 | 203 | 73 | 51 | 2 |
2020 | 77 | 19 | 9 | 0 |
2021 | 34 | 36 | 2 | 2 |
2022 | 50 | 23 | 8 | 2 |
Total | 1,584 | 528 | 238 | 33 |
Abandoned coins with flatlining trading volume accounted for 1,584 or 66.5% of analyzed crypto failures over the last decade. Comparatively, 22% ended up being scam coins, and 10% failed to launch after an ICO.
As for individual years, 2018 saw the largest total of annual casualties in the crypto market, with 751 dead crypto coins. More than half of them were abandoned by investors, but 237 coins were revealed as scams or embroiled in other controversies, such as BitConnect which turned out to be a Ponzi scheme.
Why was 2018 such a big year for crypto failures?
This is largely because the year prior saw Bitcoin prices climb above $1,000 for the first time with an eventual peak near $19,000. As a result, speculation ran hot, new crypto issuances boomed, and many investors and firms got bullish on the market for the first time.
How Many Newly Launched Coins Died?
Of the hundreds of coins that launched in 2017, more than half were considered defunct by the end of 2022.
Indeed, a lot of earlier-launched coins have since died. The majority of coins launched between 2013 and 2017 have already become “dead coins” by the end of 2022.
Coin Start Year | Dead Coins by 2022 |
---|---|
2013 | 66.67% |
2014 | 76.54% |
2015 | 68.42% |
2016 | 60.87% |
2017 | 57.14% |
2018 | 27.62% |
2019 | 4.74% |
2020 | 1.03% |
2021 | 0.59% |
2022 | 0.06% |
Part of this is because the cryptocurrency field itself was still being figured out. Many coins were launched in a time of experimentation and innovation, but also of volatility and uncertainty.
However, the trend began to shift in 2018. Only 27.62% of coins launched in that year have bit the dust so far, and the failure rates in 2019 and 2020 fell further to only 4.74% and 1.03% of launched coins, respectively.
This suggests that the crypto industry has become more mature and stable, with newer projects establishing themselves more securely and investors becoming wiser to potential scams.
How will this trend evolve into 2023 and beyond?
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