With the massive crypto market rout that has occurred in ‘red August’ many are now talking of an altcoin extinction which could spell the demise for the majority of them. Which ones are likely to survive is the key question. Most of the altcoins have dropped way below their price levels this time last year and are 80-90% down from their all-time highs. This has led many to surmise that it could be game over for many of them. According to Ted Rogers, the president of crypto wallet provider Xapo, this extinction level event could wipe out 90% of the altcoins; This sentiment has been echoed by Ethereum founder Vitalik Buterin when he famously said that most of the coins on Coinmarketcap will go to zero back in October before the big run up. Buterin’s comments were aimed more at low quality alts, or ‘shitcoins’ as they’re commonly known in the
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