SALT (SALT), ranked 161st by market capitalization, had its price fall by 9% and saw 65% of its trading volume coming from Binance in the past 24 hours. This one, however, does have controversy around its name, as it is a lending platform that enables you to put up your crypto as collateral in exchange for a cash loan. Popular crypto influencer WhalePanda called the project a Ponzi scheme a year and a half ago on Twitter, and in November 2018, it was uncovered that the US Securities and Exchange Commission (SEC) was investigating SALT Lending and issued a subpoena in February. The SEC was looking into whether SALT's initial coin offering was an unregistered securities offering and also into how the firm spent the raised funds.
Substratum (SUB), ranked 182nd by market capitalization, saw a decrease of 19%, presumably because Binance made up 96% of its trading volume in the past 24 hours. The platform supposedly offers a decentralized storage of information on computers connected to it. It has faced scam accusations in November 2018, due to faking GitHub, a web-based hosting service that is most often used for code, activity numbers. There have also been claims by users that the project holds the same vulnerability as Oyster Pearl, which could let someone mine new tokens and spend them
Wings (WINGS), ranked 297th by market capitalization, dropped by 16% as Binance made up 86% of its liquidity. The project is a so-called decentralized crowdfunding platform based on the Ethereum blockchain. There have been no clear-cut cases of foul play surrounding the project - it also seems to fail in more general terms when it comes to Binance’s criteria.
Meanwhile, Barry Silbert, founder and CEO of major investment firms Digital Currency Group and Grayscale Investments believes that the vast majority of digital tokens will go to zero.
Commenting on the rise of initial coin offerings (ICOs) which had exploded throughout 2017 and part of 2018, Silbert considers most of those as good as dead already. “Almost every ICO was just an attempt to raise money but there was no use for the underlying token,” he said. “The vast majority of what's out there will be eliminated.”
