Crypto Slump Leaves 12,100 Coins Trapped in Zombie Trading Limbo

When it comes to putting a number on this year’s crypto swoon, the one cited most often is $2 trillion, the amount of digital-asset market value that evaporated in the downdraft. But here’s a figure that captures the breadth of the bear market: 12,100.

That’s the number of crypto tokens that have effectively ceased trading this year, according to data provider Nomics — not dead technically, but like zombies, not quite alive either.

Most blockchain projects are built around bespoke digital coins, which often function as user rewards and compensate developers for their work, giving them incentive to stay involved. During last ...