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Are You Dead Yet? Metahash, Electroneum, Rchain Have Not Profited From the Bullrun

While a lot of cryptocurrencies are following Bitcoin’s recent surge, some cryptocurrencies show little appreciation from investors. In some cases it comes unexpected, in other cases, it is well deserved. As it is the case with a particular cryptocurrency called ‘Bitcoiin’ for example. But let’s take a look at some other seemingly ‘dead coins’ that have moved little in this euphoric market or even plunged.

Metahash

Metahash has launched its main net at the beginning of this year and is fairly new cryptocurrency. It might not be well-known in the crypto space but the project could afford promotion with Ian Balina. He might not be an important expert but he has his price for promoting your crypto project. It indicates that Metahash’s founders have skin in the game.

But there is nothing particularly special about Metahash. It is yet another project that claims to be decentralized, fast and secure already. Remarkably, it claims to be all this as a PoS coin. However, PoS is not yet technically mature. Even bigger projects that have prominent developers in their ranks cannot claim to be fully functioning PoS coins. After all, Ethereum, EOS and NEO are still working on their PoS-algorithms. Therefore, the following price development comes as no surprise.

The price of Metahash is down to about $0.03 from an ATH of more than $0.09 in March/April 2019.

Electroneum

The crypto project Electroneum is a fork of Monero. It started at the end of the ICO craze in Q3 2017 and received relatively much attention. It concluded its ICO in November 2017 and collected about $40,000,000 from investors. While Monero is a privacy coin, the Electroneum team focussed on creating a cryptocurrency suitable for mass adoption. To achieve this they focus on marketing much more than other projects, while not leaving out the technical side.

Interestingly, coinmarketcap.com still indicates a market cap of $40,656,218 USD. That is about the same sum that the project collected in its ICO. Also, the 24h volume looks rather positive with $828,833 US That seems rather stable on the surface but the price is still depreciating. The community of Electroneum is rather active. Their guess is that the marketing of Electroneum is too quiet about the project as of recently. The result is the following chart:

The price of Electroneum sat constantly at around $0.005 and has now plunged to $0.004.

RChain

The Rchain project was another project that hoped to compete with Ethereum. The Rchain cooperative collected intially $10 mln, then again in a second sale $20 mln. Both rounds were private sales in which the minimum investment sum was $50,000. Of the initial invested sum of $30 mln only $13 mln can be found as the market cap of RHOC, RChain’s token. The project once seemed very promising as it tried to find very unique solutions to the scalability problem. The founders of the RChain built the project with its very own native coding language and the Rchain cooperative even educated people to learn the language.

However, some negative news have hit the price of Rchain. Apparently, the cooperative is bankrupt and the public is losing interest in the project. Another fundamental problem of the project might have been the decision to give the ICO a $50k minimum investment. This protected, in hindsight, small investors from losing a lot of money but it also confined Rchain to reach a wider audience. But the community and the team of Rchain is still active and works on the long-awaited main net.

The price of Rchain looks comparably alive but the price recently plunged by more than 20% while other Altcoin’s rose by the same rate.

So, that was just a small selection of seemingly dead coins. But price and money is not everything and a coin is not dead until it is abandoned by the people who build it.

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