Published on 5 May 2024 on InvestorPlace via Yahoo Finance
Crypto Carnage: 3 Digital Assets Destined for the Graveyard
Since its inception, the cryptocurrency market has experienced a cyclical series of ups and downs that are far more dramatic than those of the regular stock market. A large part of the reason for this relative instability is the fact that most cryptocurrencies, despite fervent support from early adopters in computer science, lack any real-world application, or value beyond the niche applications for which they’ve been designed.
As such, beyond the traditional scams existing in the crypto world today, there are several coins that, on paper, seemed like a good investment at the time. These coins may have even broken through expectations and garnered significant attention once before. However, they ultimately become cryptos to avoid due to an inability to return on investment, or a highly unlikely chance of ever recovering to their peak prices.
Cardano (ADA-USD)