Lessons in investing in Coin98: how a Vietnamese unicorn impacted portfolios

There is a real case that exemplifies the volatility of emerging cryptocurrencies. It involves a Vietnamese tech unicorn: Coin98 (C98). Imagine that a few years ago, you invested 100 USDT in this promising project. Today, the situation varies greatly depending on when you decided to hold or sell.

When you had 100 USDT in C98: a hopeful investment

At the peak of optimism, many investors bet on this unicorn of the Asian ecosystem. C98 represented the promise of Vietnamese technological innovation in blockchain. However, what seemed like an opportunity for exponential growth turned into a lesson about the risks of the crypto market.

Coin98 as a unicorn in the Asian market

Coin98 was introduced as a decentralized financial services solution in Vietnam. The project gained initial traction thanks to its value proposition in the Asian region. Positioned as a tech unicorn, the platform promised to revolutionize access to DeFi in emerging markets.

The numbers don’t lie: the impact of time

Current data paint a different picture from what many imagined:

• Held for 1 year: Of your original 100 USDT, approximately 30-32 USDT remain (considering a -69.45% drop in the last year)
• Held for 2 years: Capital erosion became more evident, leaving just 15-18 USDT
• Held for 4 years: The scenario is critical, with losses close to 95% of the initial capital

With C98’s current price at $0.03 USD, the reality for long-term investors is that only “the hot pot” remains — meaning almost nothing to recover.

Final reflection: lessons from a fading unicorn

The story of C98 as a unicorn is not unique in the crypto sector. Many promising projects face drastic declines due to market changes, competition, or ecosystem evolution. This case underscores the importance of diversification, risk management, and the reality that even unicorns are not guaranteed to maintain their value over time.