There are numerous factors that count for the death of crypto projects on the market. One of the causes maybe as a result of the idea and product behind the project. If the product of the project is not in demand, the project is likely to fail. One of the commonest cause of the death of crypto projects stem from the fact that they lack strong and supportive community. Remember, the community serves as the fuel that power the crypto project on the market.
This may also interest you on the reasons behind the death of most crypto projects.
1. Cyber attacks: Regardless of market sentiment, if a cryptocurrency is to survive and thrive, a trust in the security of the coin is an absolute must.
If your coin’s network has fallen victim to a 51% attack, that may be a sign that you need to read it the last rites.
In recent times big name cryptocurrencies such as Verge, Bitcoin Gold and even Ethereum Classic have fallen victim to such attacks and are still around to tell the tale.
However, the loss of trust brought about by the attacks could be a hammer blow to their chances of recovery during the next market upturn.
Bitcoin Gold was delisted by a number of exchanges after a series of attacks, whilst the price of Verge has yet to recover from its recent spate of network breaches. It remains to be seen how Ethereum Classic fares after January’s attack.
2.#DevelopmentTeam : If a coin has experienced a huge price drawdown, and development has ceased ,or even worse, there are no developers working on the project, it’s most likely dead.
However, as a good crypto enthusiasts, If you suspect your coin may be ‘dead’, take a look at the project GitHub and check for recent commitments. Snoop around the project Discord or Telegram groups, or even contact one of the project developers and ask for their take on how things are progressing, there may be enough going on behind the scenes to warrant a stay of execution.