In a bear market, investors have lost interest in more than 12,000 digital assets

Investors are currently reconsidering their attitudes toward different types of cryptocurrencies.
Both during the ICO boom and when the cryptocurrency market in general was growing, this segment of digital finance attracted many startups that launched their digital assets. Many of them were used as incentive tools for users of certain digital ecosystems, as well as rewards for developers. At the same time, outside investors invested in them with the expectation that their value would multiply.
However, during a bear market, investors reevaluate their portfolios. As a result, according to research platform Nomics, at least 12,000 types of digital assets have turned into “zombies” during this time: trading volume with them either went to zero within a month or decreased so significantly that there is no market mechanism for establishing their value and sufficient liquidity of such assets.
The very number of such assets is equivalent to the number that left the market during the whole time of existence of the modern world of cryptocurrencies. Specifically, Nomics estimates that just over 6,100 digital assets left the market in the previous four years.
It’s worth noting that while the cryptocurrency market capitalization reached $2 trillion in 2021, now it’s less than $1 trillion. Nomics counted that there are about 64,400 different digital assets currently, but only a quarter of them were traded last week.
In such a situation, the role of bitcoinof Ethereum and its alternatives will increase: investors will value those cryptocurrencies that have a long history, a concept that creates a stable “club” of users of certain cryptocurrency ecosystems.

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