Cryptocurrencies That Nobody Needs Anyone

The period from the end of 2017 to the beginning of 2018 became a “golden era” for many cryptocurrencies and ICO projects. The prices of many digital assets skyrocketed, and investors grabbed hold of any new token that was sold through an ICO. 

But the time of the crypto fever has passed, the vision faded, and users suddenly realized that they had invested their funds in useless garbage – shitcoins in the language of crypto holders.

The most interesting thing is that among them there were not only initially meaningless tokens, but also once popular cryptocurrencies, which were held in high esteem by avid crypto enthusiasts. However, something went wrong, and these coins gradually faded into oblivion, taking with them investors’ funds who realized that they were fooled. In this article, we will talk about the top cryptocurrencies of the golden age of the blockchain, which are now forgotten by everyone.

#one. Dash (DASH) – 92.98% drop

At the peak of its popularity, DASH was one of the three most popular anonymous cryptocurrencies. The mechanism that sets it apart is such that when sending, transactions are mixed and form a single group, and then are chaotically sent to addressees. By the way, the Dash coin was released back in 2014 and became one of the first cryptocurrencies that worked on the Proof-of-Stake (PoS) consensus algorithm, which became popular among crypto investors in 2019 and is in demand to this day.

But even this did not help Dash gain the status of a legend and stand on a pedestal along with the famous cryptocurrencies Bitcoin (BTC) and Ethereum (ETH), which were also the first of their kind.

The ATH was reached in December 2017 when it traded at around $ 1,609. In three years, Dash fell by almost 93% and now stands at $ 113, which is also a lot compared to most cryptocurrencies, but not to its own absolute maximum.

# 2. Lisk (LSK) – a drop of 96.32%

At the end of 2017, Lisk was in almost every chart. The LSK price reached its peak in February 2018, when rose to $ 35.58. But then its rate began to plummet, and now Lisk is trading at $ 1.31 – 96% less compared to ATH. The minimum price after 2017 was recorded in December 2019, when the price of LSK fell to almost $ 0.5.

No, the developers have not abandoned the project and continue to work on it, despite popularity eluding them. Lisk was also almost at the top at the times of glory, one of the twenty largest cryptocurrencies in terms of capitalization, competing with such mastodons as Monero (XMR), TRON (TRX), NEM (XEM), Ethereum Classic (ETC) and Tether ( USDT). 

The last post on the developer blog is dated December 16, 2020. However, the creators of the projects have not released significant updates over the past 2 years, unlike Ethereum (Eth 2.0) and Cardano (Shelley). Cryptocurrencies have not yet entered the phase of mass adoption, and the competition in this market is quite tough.

# 3. Steem (STEEM) – drop 97.9%

Oh, 2017, the year of accomplishment, the year of blockchain innovation! More than 90% of tokens are of no benefit to the crypto community and, at best, simply copy their fellows that have become popular. But not Steem. An original idea coupled with a strong development team …What could go wrong?

The developers of Steem came up with a platform with their own cryptocurrency to reward popular authors: for each like for an article, copywriters were rewarded in Steem tokens. In fact, this is a crypto analogue of Medium. Moreover, the stronger the voice of the person who liked the article, the more tokens the author received. For just one article, popular authors could receive up to $ 500, or even up to $ 1000 in STEEM tokens.

And here’s what’s really strange: Steem technology bypasses many well-known blockchains put together: there are no transaction fees, and the Steem network bandwidth is more than 2 times higher than that of Ethereum. 

However, apart from in the media, tokens have not found a niche, so they did not become popular among crypto investors. In three years, STEEM’s price fell by almost 98% from $ 8.11 to $ 0.17, and even against the backdrop of the new DeFi boom in 2020, it reached only $ 0.24.

#4. Nano (NANO) – a drop of 99.42%

The Nano cryptocurrency is the answer to the question of how to lose more than 99% of your investment. Some of you have probably never even heard of it. But investors who bought Nano at the end of 2017 will never forget it. Just imagine your $ 1000 slowly but steadily turning into $ 5.8 – the worst nightmare of a crypto investor. Even novice traders who have completed an unsuccessful deal on an exchange with a leverage of x100 don’t have it this bad.

The best name for this cryptocurrency would be NAN, which means “Not-a-Number” in the language of IT specialists. Although, as ironic as it may sound, the name of the cryptocurrency accurately reflects its essence: $ 1.18 for a coin with an emission of only 133 million is really a nano-rate. This is how much the coin now costs, but in January 2018 its rate reached $ 31.25, and the coin itself was ranked 20th in terms of capitalization – higher than Zcash (ZEC), Binance Coin (BNB) and Tether (USDT).

#5. Populous (PPT) – drop 99.75%

What could be worse than a 99.42% drop? A drop of 99.75%. Such an incredible result was achieved by PPT, which was someday actively traded. But you probably know nothing about it. A popular cryptocurrency with a capitalization of over $ 2 billion, Populous was traded on Binance. Even one of the top cryptocurrencies Tezos (XTZ) has a lower capitalization. And the PPT price reached $ 70.83 in January 2018.

Due to the narrow focus of the project, the popularity of the Populous cryptocurrency gradually faded away. The idea behind the platform is to finance invoices. The goal of the project is to speed up payment cycles faced by business customers. Although the project is still working, the information has not been updated since 2019 and, perhaps, the developers abandoned it, and the token was sent to “gather dust” along with the other no-name tokens.

# Bonus: Dogecoin (DOGE) – Fall 

Despite the fact that Dogecoin was created as a joke, the cryptocurrency was able to become a favorite of many traders. The famous smiling dog meme became the symbol of the DOGE coin. But now you will not find this cryptocurrency in the portfolio of serious investors.

Dogecoin is unknown to some newcomers, but this cryptocurrency is not forgotten by everyone: DOGE remains popular among arbitrage traders due to its ridiculously low rate – only $ 0.003 or 0.00000016 BTC. Sometimes, during periods of high volatility, the rates on different crypto exchanges may differ. For example, one Dogecoin costs 16 satoshi, and the other 15 satoshi. And this is already a difference of almost 7%. If a trader buys DOGE on the first exchange for 15 satoshi for $ 10,000 and sells on another for 16, they will receive a profit of about $ 700.

But it’s unlikely traders would invest capital in Dogecoin, because since 2018 the price has fallen by more than 83%: at its peak, the DOGE cryptocurrency cost $ 0.018 or 0.0000111 BTC at the exchange rate for that period.

Conclusions

What conclusions can be drawn? Crypto projects are volatile, and cryptocurrencies that were at their peak during the ICO fever metaphorically reached the bottom of the Mariana Trench in the crypto market. Only Bitcoin and a few other top altcoins such as Ethereum, Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC) consistently remain leaders in the cryptocurrency market.

You can buy some kind of shitcoin and expect sky-high profits, while watching how your capital evaporates, or invest in really popular coins, which they will remain, perhaps, forever. Buying Bitcoin and popular altcoins can be made possible with the help of the service Changevisor,where you will find the suitable exchangers with a favorable exchange rate and you preferred method of payment: PayPal, Advanced Cash, Perfect Money and others.

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