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Altcoins had a difficult time during the ongoing crypto winter. In total, Bitcoin and all altcoins have lost more than $ 2 trillion in value in the last few months. This trend may continue, but most altcoins may rebound with stocks. Here are some of the top altcoins you never buy.
EOS is a blockchain project born from Block.one Initial Coin Offering (ICO), which has raised over $ 4 billion. It is currently being monitored by the EOS Foundation, which is partially independent of the block. It is one of the largest altcoins with a market capitalization of about $ 1 billion.
EOS has built an operating system called EOSIO. This is a smart contract platform that aims to compete with Ethereum and Solana. It claims to be fast, efficient, highly configurable and highly secure.
EOS is well funded, but the reality is that it has not been successful in the industry. For one, there were no major or well-known applications built using this technology.
Also, the total amount of these available apps has been declining significantly in the last few months. Most importantly, the relationship with Block, a company fined by the SEC, makes it a bad altcoin to buy.
Read our complete KuCoin Review..
IOTA is another altcoin that you never buy. For starters, IOTA is not a blockchain project. Its developers describe IOT as an entangled network that connects to secure data and value exchanges. It also protects data integrity and testability. For many years, developers have partnered with key organizations implementing the technology.
IOTA has also launched a new smart contract platform called Shimmer. However, its reception has been relatively weak in the last few months. Top ecosystem projects include Accumulator, ApeDAO, Camels DAO and Deposy. However, all of these products are relatively small, indicating that the coin is struggling.
Axie Infinity is a leading blockchain project in the gaming industry. This platform allows people to play games and earn tokens that can be redeemed for cash. Gamers will win a cryptocurrency known as Smooth Love Potion (SLP), whose prices have plummeted in the last few months. You can also earn AXS tokens in several leagues.
At Axie Infinity, the number of active users has dropped sharply in the last few months. They have decreased from over 6 million to less than 500,000.Also, the developer Give up In the project. Therefore, absolutely avoid AXS tokens.
