There are over 10,000 tokens currently listed on CoinGecko, each with their own “superpower.” But not all of them are still alive. The number of coins that have died in the past year has increased by 35% and is now close to 2000. That’s spooky if you ask me. Please, RIP

The actual number of coins that have died is actually much higher than this, as not all coins are listed on analytical websites like CoinMarketCap and CoinGecko. A rug-pull equals a dead coins. In fact, one article reveals that around 1,300 have been registered so far. It is however alarming to see how many coins are lost every day.

It’s not only meme coins that die. The 2017 bull cycle saw an unprecedented rise in Altcoins, but tokens fell precipitously as the market plunged into a bear phase.

At the end of some of these tunnels, there is a light, regardless of the coin’s past, and some cryptocurrencies have managed to break through to the other side and become relevant again. We have listed the top coins that were revived from the dead, and which are still useful in today’s market.

Classic (ETC), is perhaps the most well-known example of how coins can be revived and remain relevant even after they have signed their death certificates. After the hacking of the Ethereum currency chain for $50,000,000, the Ethereum Classic community voted to fork the Ethereum blockchain. This allowed for Ethereum Classic’s first mining.

Despite being disconnected from future Ethereum updates the network survived, and reached all-time highs in 2017 during bull runs. ETC reached an even higher level in 2021 when its value was $176. This occurred as the start of dinocoin-season in the market.

What’s striking is that despite several 51% attacks on the network in both 2019 and 2020, the network has held steady, as investors ignored most of the warning signs. Ethereum Classic is still 32nd on the market capitalization list, which means that a 51% attack would be considered fatal in the crypto world.

Bancor
Bancor (the decentralized exchange network) managed to keep its relevance despite being hacked by hackers in 2018. According to reports, the protocol suffered a loss of $13.5 million after hackers gained access to a wallet. They withdrew mostly Ethereum tokens. TechCrunch also reported that the hacker took $10 million in BNT (the native token) of the network.

Bancor was hacked in 2020 after it discovered flaws in its smart contract. According to a 1inch report, white-hat hackers “made attempts to rescue user funds” and have spent 3.94 ETH in order to rescue $410,194 worth of user’s funds from badly coded smart contracts.

Bancor was able to revive itself in the DeFi Summer despite continued security issues with their smart contracts. After the sentiment changed towards the next iteration, the token price reached $9 in 2021.

The End of the Story
Cryptocurrency isn’t for the weak of heart. It is easy for projects to gain momentum, build trust and post large price increases. However, this can be a difficult task and one that most projects fail. Yet, some projects do manage to break through and continue, despite being hacked or “FUDed” without reason on social platforms.

Rare coins that are able to come back from the grave have merit, however they can be very valuable.

Flipside

• Many cryptocurrencies end up failing or are abandoned. Investors may also look at other investments that offer a better return.
• You could even be considered as having resurrected from the dead, after you reached a low point of $5000 in 2020.

Why you should care

Unpredictability is a hallmark of the cryptocurrency market. Although most tokens will fail due to insufficient value for their investors, there are some tokens which have experienced serious problems and managed to remain relevant. This is good news for all of crypto market.

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