I recently trawled the Top 200 Cryptos and put them into my own personalised categories as follows, with the numbers that fall into each category:
I took the Top 200 Cryptos by Market Cap from CoinMarketCap.
Some chains are multifunction I know, and for many of these I've placed them in either the 'ALT', or '?' categories (see below), but if any chain has a specific function I've put it in either 'unique' or one of the other categories.
Some of these categories need no explanation, but some do, so:
I did this primarily to get my head around how many coins in the Top 200 were related to Defi and Finance, then I decided to just carry on and have a go at classifying everything else.
I was already familiar with about 70% of the coins, the other 30% I may not be doing justice to, as I've classified them based on reading the first 4-5 lines of their description on CoinMarketCap.
Oh, and it's really the top 190 I've done, everything below Hive basically, which, along with Steem, remains the only 'social' blockchain in the top 200!
It's also helped me the coins I'm interested in exploring further!
See, I told you this would be fun
I won't even bother to list these here, but it was no surprise to see many coins just being ALL ABOUT money, the number one by marketcap of course being BNB!
These are the coins that either have development going on or at least speak a good game in the case of Internet Computer, although TBH I'm in half a mind to move that to my 'joke category'.
I can't actually remember what all of these use case are, but the one which really stood out as worth exploring more was NMR which focuses on machine learning - I mean it might be crap, but it's worth a deeper look!
AVA would have been in here, but it is out of the top 200!
I think some of these are going to be successful....they all focus on one or more aspects of data storage and access....
Personally I'm in on Akash, I think it's a matter of pick yer coin and have a punt!
I think some of these could do well too, all of these focused on different use cases for blockchains...
NB for the NFT type coins below, there's a lot of difference between them!
I think some of he interoperative coins might be worth a punt here.
These are mostly the chains that have been around for a while but seem to be doing.... nothing very much.....
Maybe a bit subjective....
My own categorisations are entirely subjective, based on my own (limited) knowledge of these projects, and it maybe the case that I'm not doing some of them justice, and maybe given some of them more credit than I should!
But based on what I've seen, I'm prepared to write off at least 15% of the top 200 coins as having no future, and I also think many of the finance coins will fail eventually as well as the DEFI space is propped up by speculation ATM, eventually most of these projects will fade to obscurity.
I was surprised to see so many DATA type coins in the top 200, as with finance, it's probably that one or two of these will rise to mass utility and most will fade.
I'm not sure we can call the 11 stable coins in the top 200 real cryptos, to my mind this is more like 'fiat in waiting'.
TBH overall I'd say the top 200 looks half 'doomed to failure', but the other half show some promise, being focussed and unique projects with real use cases.
We just need to get through the next 3.5 year bear market, watch a few of the above projects fold, and then it'll be time to pick up a few cheap alts with utility ready for 2025!
