Crypto Carnage: 3 Digital Assets Destined for the Graveyard

Since its inception, the cryptocurrency market has had a… cyclical series of ups and downs which are far more dramatic than those of the regular stock market. A large part of the cause of this relative instability is the fact that, despite passionate support from early adopters in computing, most cryptocurrencies have no real-world use, application, or value beyond the niche applications for which they were designed .

Therefore, in addition to the traditional scams that exist 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 exceeded expectations and attracted a lot of attention. Ultimately, however, they become cryptos to avoid because you can’t get a return on investment or the chance of ever getting back to their peak price is highly unlikely.

Cardano (ADA-USD)

Once a thriving success story that inspired several ambitious investors, Cardano (ADA USD) represents one of the biggest losses in crypto investing today. The company’s original mission to create a blockchain platform that would create the tools necessary for positive global change has simply run out of steam.

The word originally marketed itself as a legitimate alternative to the two popular coins: Bitcoin (BTC USD), And ether (ETH-USD) The cryptocurrency lost $7 billion last month. The reality is that Cardano was intended to be a new premium coin Solano (SOL USD), which in turn would provide investors with life-changing returns.

Today, the coin is trading at a fraction of its peak price and has virtually missed out on the recent hype surrounding the crypto industry. If there is another crash, the coin is likely to continue to lose value. Therefore, Cardano is one of the most important cryptocurrencies to avoid when initially deciding on putting together a crypto portfolio.

Shiba Inu (SHIB-USD)

A passionate meme and dog coin, Shiba Inu (SHIB USD) once told one of the most exciting underdog stories. Unfortunately, Shiba Inu’s true destiny as a coin seems to have finally caught up with him. That is, the coin was never intended to provide investors with long-term profits or to hedge against inflation. Instead, the coin’s creators took advantage cyclical hype about the increasing popularity of cryptocurrencies.

Today, there are no real-world applications for the coin and virtually no major platforms accept it as payment. Additionally, its internal Shibarium ecosystem leaves a lot to be desired. So if you’re still asking yourself the question, “Will Shiba Inu hit a dime?” I’m here to answer for you.

It is mathematically impossible for a coin with a circulation of 589.26 trillion to be worth one cent.

Algorand (ALGO-USD)

Algorand (ALGO USD) originally marketed itself as an alternative to the traditional high-yield savings account. To achieve this, the Coin Stake protocol offered investors the opportunity to earn up to 14% annual percentage return when they stake their coins. This essentially allows for the passive generation of Algorand coins in their wallets. The problem, however, is that this model did not take into account Algorand’s lack of real-world basis for its value. Rather, the only driver of growth was that individuals purchased it to use as a savings account.

So when crashes occur and all coins experience significant losses, many investors withdraw their money. Ultimately, all the coins that people have accumulated as a form of savings will be exhausted.

Despite the recurring interest in cryptocurrencies and Bitcoin’s profits, almost no one is talking about Algorand anymore. Since no one shows interest in the coin, its rock-bottom price remains. All in all, Algorand is one of the cryptos to avoid as it has no hopes of returning to the two-dollar mark.

At the time of publication, Viktor Zarev did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.