Top 3 altcoins never to buy, even if crypto prices surge again

Altcoins have had a rough time during the ongoing crypto winter. In total, bitcoin and all altcoins have lost over $2 trillion in value over the past few months. While this trend is likely to continue, there is a likelihood that most altcoins will rally along with stocks. Here are some of the best altcoins never to buy.

EOS (EOS)

EOS is a blockchain project that grew out of the Block.one Initial Coin Offering (ICO) which raised over $4 billion. Today it is overseen by the EOS Foundation, which is partially independent of Block. It is one of the largest altcoins with a total market cap of almost $1 billion.

EOS has developed an operating system called EOSIO, a smart contract platform that aims to compete with Ethereum and Solana. It claims to be fast and efficient, highly configurable and highly secure.

Although EOS has been well funded, in reality it has not been successful in the industry. For one thing, there hasn’t been a major or well-known application built using this technology.

The total volume of these available apps has also declined sharply in recent months. Most importantly, its association with Block, a company that has been fined by the SEC, makes it a bad altcoin.

Read our full KuCoin Review.

IOTA (MIOTA)

IOTA is another altcoin that should never be bought. First of all, IOTA is not a blockchain project. Its developers describe it as a Tangle network that connects IOT with a secure data and value exchange. It also protects the integrity and verifiability of data. Over the years the developers have formed partnerships with leading organizations implementing their technology.

IOTA has also launched a new smart contract platform called Shimmer. However, reception has been relatively weak in recent months. Some of the top projects in the ecosystem are Accumulator, ApeDAO, Camel’s DAO, and Deposy. However, these products are all relatively small, signaling that the coin is struggling.

Axie Infinity (AXS)

Axie Infinity is a leading blockchain project in the gaming industry. The platform allows people to play games and win tokens that they can exchange for cash. Players are winning a cryptocurrency called Smooth Love Potion (SLP), which has seen its price drop in recent months. You can also win the AXS token in multiple leagues.

Axie Infinity has seen a sharp drop in the number of active users over the past few months. They have gone from over 6 million to less than 500,000. It also seems like its developers are like give up on the project. Therefore, you should avoid AXS tokens at all costs.