There has been flooding ICOs and new coins show up in the markets, and we almost can't keep up with the speed of new coins getting created, let alone try to keep track of which coin does what. While some coins are backed by a strong team for execution and great ideas, some seem to pop up their coins just for the sake of gathering money.
In the institutional investment space, we all understand that companies who are money gatherers without achieving the same speed in creating their products and services are doomed over time. We also understand that if a company receives a large amount of funding to implement their ideas, the funding is only released and enabled access by the company once they meet certain milestones by a certain time scheduled in their business plan.
So the current scenarios in which startups gathered huge amount of cash that they might need to deploy over time, but they don't have plans to wisely make use of the extra cash they don't need at hand, and yet they haven't even hit their 1st, let alone consecutive milestones, leave a lot of open ended questions. Let's take a look at the list of top ranked coins by market cap, and take the more established ones aside for now. There are so many coins that supposedly do different things, and realistically, apart from the value of trading, can a person regularly uses and monitors over 10 coins at the same time?
Thus, a lot of coins would go, even if they've amassed huge amount of market cap today. The coins that are the most dangerous, are those that have similar functions and do not have more tech advancement beyond what Bitcoin can do, which are DogeCoin, Stellar Lumens, Komodo, NEM, LeoCoin MonaCoin... the list goes on. If a coin is created just for the sake as another coin to store value, but without the kind of tech advancement that more established coins are already doing, what are the points of existence for these coins? Some of these coins are kind of ridiculous when you look into what they do. Dogecoin is one - for that amount of the market cap, you would thought they could hire capable developers to come up with a proper interface. I also came across coins that had ridiculous amount of market cap with little to no fundamentals, plus a near broken and poorly designed web interface. The coin seems to have disappeared from the top 100 list at the time of writing, while it was ranked high previously.
I will add to this topic as time goes. It's not sustainable to have a coin market like today, with random coins popping up without much purpose or significant tech advancement. Please feel free to share your thoughts, and which coins you avoided and saved yourself from losing money.