Most altcoins are going to $0

altcoins going to zero

CEO of Mogran Creek Digital, Mark Yusko said in a youtube series that most of the altcoins are going to $0. He said other than top 16 coins in cryptocurrency world, most of the tokens and coins.

Mark says this includes most of the utility tokens or shitcoins as most like to call them. He said 99% will go to zero because they are nothing but pre-seed stage venture capital that have an incredibly low hit rate.

He added he is not interested in adding coins whose supply is too much centralized. He pointed at Stellar Lumens and Ripple, both of which are largely controlled by companies behind them. Ripple, for instance owns 6.5 billion XRP token that continues to create controversy over its position and is often blamed for suppressing the price of XRP token. Same goes for Stellar where Stellar Development Foundation owns most of the Stellar Lumens, XLM token.

Right now, Morgan Creek Bitwise Digital Asset Index Fund track top ten cryptocurrencies with bitcoin occupying 80% of their portfolio.