Hundreds of Inactive Cryptos Still Worth Millions

Hundreds of cryptos and tokens that have no github activity at all for a year or more are still traded on exchanges according to CoinCodeCap.

About 300 crypto tokens have some known market cap and despite lacking any code activity are worth half a billion in combination.

“Other than these assets we also have a Scam coin list on our CoinCodeCap website,” they say. “If we also consider them, then the overall valuation will cross $1 billion.”

YoBit, which is a somewhat fairly well known crypto exchange, is the most popular for inactive cryptos and tokens, listing some 62 of them.The other exchanges are not known much, but apparently some cryptos or tokens have no code at all and are still worth millions.

“BQTX has almost no code on their Github but has more than $45 million in market cap,” they say (pictured feature image).

Few of these projects are familiar and none appears to be organically popular, but Proton Token has daily trading volumes of more than half a million while BQTX handles nearly $2 million a day in trading volumes.

BQTX seems to have launched trading only this year, dropping from a high of $1.60 to now 8 cent.

Their last commit was in August 2018, so they’ve been around for some time, but apparently they haven’t been doing much during that period with the project seemingly having almost no code.

We have not verified the veracity of this data, but the code activity ranking they provide is somewhat interesting:

Most of these projects are familiar, although some in the very top ranking maybe are not.

LBRY is an interesting project which has been around for some time, with their code activity for the year apparently being greater than for eth.

While some projects have not launched yet, so you’d expect more activity as they build the whole thing.

Nor is commits necessarily a good measure. Changing a coma or a typo, for example, can be a commit. Adding many lines of code can also perhaps be easier, but maybe not as clean or secure as quality code.

So this measure is at best a proxy estimate with many disclaimers, but unfinished projects that are nonetheless not coding, are a more concrete measure.

Unless you’re dogecoin of course, then you need no code as doge runs on memes.

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