99% of Rapper Coins Crashed - But So Did 99% of All Crypto

With all the buzz around YZY - the token launched by Kanye West - a chart has been making the rounds online showing the historical performance of rapper-backed cryptocurrencies. The numbers look grim: most of them are down 98–99% from their peak.

And sure, that’s true. But isn’t the same also true for 98–99% of all other cryptocurrencies ever launched, regardless of who was behind them? I haven’t run the stats myself, but that’s the impression I get.

In the nearly 17 years since blockchain was invented, millions of cryptocurrencies have been launched. Almost all of them ended up with no demand from the market.

On rabbit.io, we support swaps of 10,000+ cryptocurrencies. That might sound like a lot - but in reality, it’s less than 1% of all the coins and tokens that have ever existed. Those are just the assets that actually make sense to trade, because they’re still liquid.

That said, if you know a crypto project that

• truly stands apart from the 98–99% that turned out useless,
• and yet isn’t listed among the tradable assets on rabbit.io,

let me know. I’m always open to discovering something new.