91% of previously existing cryptocurrencies are no longer supported

CoinKickoff has published a study according to which 91% of cryptocurrencies that existed in 2014 are now in a complete coma, meaning that no transactions are being conducted with them. In addition, 704 and 751 cryptocurrencies created in 2017 and 2018, respectively, are inactive. These two years were characterized by the largest number of «deaths» of such assets.

Against this backdrop, bitcoin has shown resilience: its hashrate has been gradually increasing and now, according to the Hashrate Index, exceeds 270 EH/s. Today, more than 1 million addresses have 1 bitcoin or more, and in 2022, the volume of transactions in the bitcoin network exceeded $ 14 trillion, which is 13,900% more than in 2015.

It is also worth noting that the number of bitcoins held in exchange accounts has reached its lowest level since at least 2019. All this indicates the sustainable development of the bitcoin network, while the life of altcoins is often quite short.

Bitcoin has proved its resilience by continuing to withstand existential threats such as block size wars, political challenges, the Silk Road story, and the collapse of major exchanges such as Mt. Gox and FTX.