Altcoins which dropped out of TOP-20

May 22, 2020   Bitcoin

According to CoinMarketCap, more than 2500 cryptocurrencies exist nowadays. Their total capitalization is $195 billion, $180 billion of which is in the first TOP-20 altcoins. These cryptocurrencies are constantly in the media, updates inside their ecosystems are taking place, their projects are developing.

Nevertheless, every year the list of TOP-20 cryptocurrencies changes. Since 2015, more than 60 altcoins have been on this list. The coins most sought after remained there, but where did the others go? The reasons for the disappearance are different: lack of funding and demand for certain cryptocurrencies, the transition of developers to other projects, scam. In this article, we are going to recall all the altcoins that managed to be on the leaderboard since 2015. And we’ll try to understand for what reasons they fell out of TOP-20.

"Dead Souls"


Before the ICO boom, getting into the TOP-20 cryptocurrencies was not difficult: it was enough to issue a token with real or imagined benefits and competently think out a PR company. If everything was done correctly, the coin occupied a leading position. As of 2020, there are a number of coins that used to be considered top-end, but now they are not even in the first hundred by capitalization, and cryptocurrency exchanges have been delisting them for a long time. Probably, the creators made money and ceased to engage in the development of coins, in other words, they “scammed”.

  • PayCoin (XPY). In 2015, it ranked 4th place with capitalization of $58 million. Today, the GitHUB is not active and has not been updated since 2015. Capitalization in 2020 is $12 thousand, a place in the ranking of cryptocurrencies is 1821.
  • Nxt (NXT). In 2015, it was ranked 7th with capitalization of $17.5 million. GitHUB has not been updated since 2017. Capitalization in 2020 is $9 million, a place in the ranking of cryptocurrencies is 200.
  • CounterParty (XCP). In 2015, the coin ranked 11th with capitalization of $17.5 million. The project’s GitHUB has not been active since 2017. Capitalization in 2020 is $2 million, a place in the ranking of cryptocurrencies is 616.
  • FuelCoin. In 2015, FuelCoin was ranked 13th with capitalization of $4.5 million. Today, coins are not at all on the CoinMarketCap list. GitHUB has not been updated since 2015.
  • NuShares (NSR). In 2015, with a capitalization of $3.8 million, it ranked 14th. GitHUB has not been updated since 2016. Capitalization in 2020 is $500 thousand, a place in the ranking of cryptocurrencies is 999.
  • SuperNET. In 2015, it ranked 16th with capitalization of $3.5 million. GitHUB has not been updated since 2015. In 2020, SuperNET coins are not listed on the CoinMarketCap service.
  • YbCoin. In 2015, it ranked 17th with capitalization of $2.9 million. GitHUB has not been updated since 2015. In 2020, YbCoin is not listed on the CoinMarketCap service.
  • Banx. In 2015, it ranked 18th with capitalization of $2.8 million. GitHUB has not been updated since 2015. In 2020, Banx is not listed on the CoinMarketCap service.
  • NuBits (USNBT). In 2015, it ranked 20th with capitalization of $2.6 million. GitHUB has not been updated since 2016. Capitalization in 2020 is $430 thousand, a place in the ranking of cryptocurrencies is 1058.
  • Rubycoin (RBY). In 2016, it ranked 15th with capitalization of $300 thousand. GitHUB has not been updated since 2017. Capitalization in 2020 is $864 thousand, a place in the ranking of cryptocurrencies is 873.
  • Clams (CLAM). In 2016, it ranked 17th with capitalization of $2.4 million. GitHUB has not been updated since 2016. Capitalization in 2020 is $1.1 million, a place in the ranking of cryptocurrencies is 813.
  • Iconomi. In 2017, it ranked 12th with capitalization of $28 million. GitHUB has not been updated since 2017. In 2020, Iconomi is not listed on the CoinMarketCap service.
  • GameCredits (GAME). In 2017, it ranked 20th with capitalization of $14 million. GitHUB has not been updated since 2018. Capitalization in 2020 is $3 million, a place in the ranking of cryptocurrencies is 537.
  • BlackCoin (BLK). In 2016, it ranked 19th with capitalization of $2.1 million. GitHUB has not been updated since 2017. Capitalization in 2020 is $1.1 million, a place in the ranking of cryptocurrencies is 799.
  • Namecoin. In 2015, it ranked 13th with capitalization of $6 million. GitHUB has not been updated since 2016. Capitalization in 2020 is $4.3 million, a place in the ranking of cryptocurrencies is 457.

They did not hold positions


Now let's move on to those coins that for some reason did not hold the leading position, but still continue to develop, they have users and high capitalization.

Bitshares


In 2015, Bitshares took 5th place with a capitalization of $37 million. GitHUB is active. Capitalization in 2020 is $ 146 million, a place in the ranking of cryptocurrencies is 80. BitShares is a cryptocurrency exchange that issues tokens of the same name., The company managed to raise $ 3.5 million with an ICO in 2014, and the project was developed with the participation of Dan Larimer, co-founder of Steem and EOS, and Charles Hoskinson, co-founder of Ethereum and Cardano. The exchange's product is stablecoins, which are supported by the yuan, dollar, euro and gold - BitCNY, BitUSD, BitEUR and BitGold. The project’s idea is not bad: the creation of digital assets that are free from high volatility and serve as a storage asset for investors. The project has worthy competitors in the person of Tether, Maker, TUSD, Digix Gold. Of the presented stablecoins only BitCNY is interesting. But the Chinese authorities plan to launch the digital renminbi in 2020, and given the low capitalization of the project, BitShares will not resist this new digital assed.

Bitcoin Gold


In 2018, it ranked 16th with a capitalization of $5.1 billion. GitHUB is active. Capitalization in 2020 is $ 172 million, a place in the ranking of cryptocurrencies is 37. As you can guess by the name of the coin, this is Bitcoin’s hard fork, founded in 2018 by Chinese businessman Jack Liao. The idea of ​​the project is that bitcoin should be decentralized. Satoshi, when creating the blockchain, saw it as follows: “One processor - one vote.” But mining companies that mine bitcoin with the help of ASICs destroy this principle by introducing excessive centralization. When creating Bitcoin Gold, the SHA256 algorithm was replaced by Equihash, which completely eliminates the possibility of mining coins using ASICs and allows users to mine using a video card and processor. But this feature did not help the coin stay in TOP-20. Over its short history, Bitcoin Gold has been attacked by 51% more than once, the funds of users were withdrawn, and therefore the coin was nicknamed “shitcoin”. One of the unpleasant moments is related to duplication protection, because of which services confuse Bitcoin and Bitcoin Gold wallets.

Dogecoin


In 2016, it ranked 6th, with a capitalization of $15 million. GitHUB is active. Capitalization in 2020 is $243 million, a place in the ranking of cryptocurrencies is 33. This cryptocurrency was named after a meme about a Japanese breed dog. The founder, Jackson Palmer, wrote a comic post about the abundance of cryptocurrencies in the market in 2013, so he decided that he was going to create a new cryptocurrency, naming it after the dog. The post scattered across the network and Jackson decided to make the joke a reality. He bought the dogecoin.com domain, created a website and encouraged people to help him create a new coin. Billy Marcus, an American programmer who wanted to participate in the creation of the “meme” coin, responded to the request. So Dogecoin was born. The coin has a loyal community, because the main goal is fundraising for charity. In 2014, the Dogecoin Foundation managed to raise money to send a bobsled team from Jamaica to the Olympics. Something more came out of the playful coin: well-known cryptocurrency exchanges began to list it, the audience of the project expanded, new investors appeared. One of the features of the coin is the low commissions, therefore Dogecoin is popular among traders, with its help it is cheaper to transfer your assets from one exchange to another. With all the advantages and good goals, the coin does not carry new technical ideas. It has no competitors in its ranks, but charity today is more a trend, so Dogecoin cannot return to the top of the list of cryptocurrencies. It is possible if charity becomes popular, then the project will gain a new audience and break out in the TOP-20.

Peercoin


In 2016, it ranked 7th, with a capitalization of $10 million. GitHUB is active. Capitalization in 2020 is $4.5 million, a place in the ranking of cryptocurrencies is 452. The cryptocurrency was created by Sunny King and Scott Nadal, it is based on the source code of bitcoin, but with some changes. In Peercoin, the PoS and PoW consensus algorithm, according to the developers, made it competitive with Bitcoin because it eliminates the threat of 51% attack. This coin could occupy a leading position, but there are several negative factors that prevent this:

  • The coin has very low popularity, developers cannot do anything about it, although the marketing funds allocated were impressive, during the hype of the coin.
  • The endless issue makes the coin not interesting for investors, because inflation is possible in the future.
  • The price of the coin is unstable, it is constantly “storming”, it is quite difficult to trade on it.
  • Peercoin does not give holders anonymity; for some users this is a fundamental factor.
  • The interest rate on the PoS protocol is 1% per year, which will be "eaten up" by inflation.
  • Peercoin has many shortcomings in marketing and strategic development, so in 2020 the coin has low popularity.

Emercoin


In 2016, it ranked 17th, with a capitalization of $2.7 million. GitHUB is of average activity. Capitalization in 2020 is $2.7 million, a place in the ranking of cryptocurrencies is 567. Like Peercoin, it is developed based on the source code of bitcoin and has two consensus algorithms: PoW and PoS, with a bias on the latter. Emercoin provides users with anonymous transactions and a high degree of protection of funds. Emercoin collaborates with well-known companies: common products are developed with Microsoft, and the well-known cryptocurrency wallet Jaxx added EMC support. But the coin's capitalization has not changed in any way since 2016, and media references date back to 2018. If the team is involved in the project, it is weak, therefore Emercoin is in the sixth hundred in the list of cryptocurrencies.

QTUM


In 2016, it ranked 15th, with a capitalization of $6.3 billion. GitHUB is active. Capitalization in 2020 is $130 million, a place in the ranking of cryptocurrencies is 41. This blockchain acts as a symbiosis of the other two - Bitcoin and Ethereum. According to the developers, there are drawbacks in each of these blockchains, they are going to fix it in the Qtum blockchain, that is, they must develop a network of new generation decentralized applications. Even at the planning stage, the project received funding of $1 million from well-known persons in the crypto industry - Anthony Di Iorio, Stara Xu, Xiaolai Li and Bo Shen. Through an ICO, the project managed to attract another 5000 BTC. If you believe the official information, then all these years the developers of the project have been busy improving it and do not want to issue regular updates just for the sake of show. In the fall of 2019, the first hard fork on the Qtum network took place, which was supposed to improve the performance of smart contracts and increase the productivity of the blockchain. There were no changes in price after the hard fork. The project management relies on 2020 because they are preparing a major update for the Qtum network. According to some analysts, if the updates are large-scale, this will help Qtum get closer to the TOP-20 altcoins, but now it is difficult for it to compete with the existing networks of decentralized applications.

Lisk


In 2016, it ranked 18th, with a capitalization of $4 billion. GitHUB is active. Capitalization in 2020 is $131 million, a place in the ranking of cryptocurrencies is 40. Lisk is an open blockchain platform which purpose is to give users the opportunity to create decentralized JavaScript applications. This works according to the sidechain principle: a blockchain add-in that allows you to connect the main network to the side ones. $6 million was raised during the ICO. The development team focused on JavaScript, not on proprietary code (Ethereum), and has great hopes in the future. Now Lisk, like Qtum, is in the shadow of Ethereum. Whether these coins can somehow get out of the shadow, we will find out in the future.

Augur


In 2017, it took 8th place with a capitalization of $43 million. GitHUB is active. Capitalization in 2020 is $ 109 million, a place in the ranking of cryptocurrencies is 47. Augur is a distributed platform developed on the Ethereum blockchain. It is a betting market with which the user can bet on anything: when the war starts, when the aliens arrive. Those who offer the subject of a bet are called market makers, they make an initial deposit, dividing it into yes / no shares. The percentage of each of the shares may change in the future, it is not fixed. If you are sure that this event will happen, buy “yes” shares, same is true for “no” shares. The rate of each action may grow depending on the relevance of the dispute or the ongoing external events that may at least somehow affect the dispute. Augur was thought to be a complex project because it was written on thousands of smart contracts. In fact, it turns out that this is an ordinary tote: you must guess or analyze a possible scenario, and based on yours, make a bet. Augur was in the TOP 20 coins in 2017, immediately after the ICO. This coin was helped by the fact that it has no analogues and is the first of its kind to appear in the leaders of cryptocurrencies. But when new, more worthy coins appeared, Augur was immediately ousted from the leadership position.

Bytecoin


In 2016, it ranked 14th with a capitalization of $5.6 million. GitHUB is active. Capitalization in 2020 is $ 45 million, a place in the ranking of cryptocurrencies is 80. Bytecoin is the first cryptocurrency, which is based on the CryptoNote software algorithm. Monero appeared as a result of the hard fork of this coin. In recent years, the project did not have noticeable development, rather, on the contrary: the cryptocurrency exchanges delisted Bytecoin, after finding any vulnerabilities in the system, the Poloniex exchange requested up to 2000 thousand confirmations for transactions in this currency. The coin has a very unstable software component, which repels users from its use. Against the background, Bytecoin looks much more relevant than Monero, which proves their positions in the ranking of cryptocurrencies.

Steem


In 2017, it ranked 10th with a capitalization of $38 million. GitHUB is active. Capitalization in 2020 is $ 55 million, a place in the ranking of cryptocurrencies is 69. Steem is the internal token of the social network Steemit. Users receive Steem tokens for blogging in Steemit, which can be spent on purchases within the platform or exchanged for fiat. The idea of ​​the project is to show what the Internet of the future can be, to attract new entrepreneurs and developers of digital content. In 2018, 70% of Steemit’s staff fell under a reduction due to the “weakness of the cryptocurrency market and a decrease in the company's fiat profitability,” after which Steem loses its position and leaves the top cryptocurrencies. People started talking about the coin again in 2020, Steemit and the Tron Foundation entered into a strategic partnership, after which Steem was supposed to migrate to the Tron blockchain. In March 2020, Justin Sun, founder of Tron, was accused of trying to seize power over the Steemit network. The Binance, Huobi, Poloniex exchanges helped him in this, using Steem of their clients to select the necessary validators. The result was a kind of 51% attack, only for the PoS consensus algorithm. Soft fork was later held, Steemit was transferred to the Hive.io blockchain. A similar news feed fueled interest in this coin and in 2020 Steem can strengthen its position more.

Waves


In 2017, it ranked 15th with a capitalization of $22 million. GitHUB is active. Capitalization in 2020 is $100 million, a place in the ranking of cryptocurrencies is 49. Waves is the coin of decentralized p2p exchange Waves.Exchange created in 2016. The concept of the project is to provide a service with which users can exchange any assets in a decentralized way, without delays and commissions. Waves acts as an analogue of Ethereum, with an improved source code that can withstand the load more than the Ethereum blockchain. An interesting feature of the platform is that when creating tokens on the Waves blockchain, it immediately appears on the Waves.Exchange exchange. Part of the crypto community believes that Waves is one of the most underrated projects. There is an opinion that Waves is in the shadow of Ethereum together with other similar currencies.

Factom


In 2017, it ranked 13th with a capitalization of $25 million. GitHUB is active. Capitalization in 2020 is $14 million, a place in the ranking of cryptocurrencies is 160. Factom project is designed in such a way that it became possible to create add-ons on the Bitcoin blockchain. At the same time, the functions and advantages of blockchain technology are preserved. Factom developers solved the bitcoin problem - a small block size, creating a side circuit to which a signal is connected that controls the parameters of the existing system. The company attracted funding: It has won a grant from the US Department of Homeland Security, conducted an ICO, and there were plenty of funds for development. And in March 2020, it turned out that the company employs only two people.

Conclusion


Over the past five years, more than fifty altcoins have disappeared from the TOP-20 cryptocurrency list, some of them have gone scam, and some was not in demand by the market participants. Based on this, we can conclude that even if a coin enters the TOP in terms of capitalization, this does not mean at all that it will also be there in a year. The once popular coins, such as Maker, NEM, NEO, ETH Classic, IOTA and Zcash, were removed from the TOP-20 by more demanded coins. But despite this fact they continue to be active and have a small, but still loyal audience. For this reason, we did not include them in the list of outsiders. When choosing assets for investment or trading, you should always analyze what goals the project pursues, whether these goals are feasible or not, whether the project team is competent and whether there is a demand for an altcoin. If at least one of these criteria is not true, you should refrain from investing in an asset. Otherwise, having invested in a coin from the TOP by capitalization today, in a year you can stay with a coin from the second hundred according to CoinMarketCap.

Author: Kate Solano for Сrypto-Rating.com
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