If a coin is dead, abandoned, and forgotten by its developers — why is it still being traded?
It’s a puzzling question, but surprisingly common: why do people still trade dead coins?
From outside, it makes no sense. These coins have no future, no updates, no community. But dive deeper into the world of crypto trading, and you’ll find that the reasons are more psychological, strategic, and sometimes even comical.
Let’s explore exactly why do people still trade dead coins, who’s doing it, and what they’re hoping to gain.
What Are Dead Coins?
Before we go into the why, we need to understand what qualifies as a dead coin.
A coin is considered “dead” when:
- Its official website is no longer online
- Social media channels are inactive or deleted
- Development on GitHub has stopped
- The community is gone
- It has been delisted from most major exchanges
Examples include BitConnect, Coinye, and hundreds of ICO-era tokens that failed after raising millions. Despite being functionally useless, some of these coins still show trading volume today. And that’s why the question remains — why do people still trade dead coins?
1. Hoping for Quick Profits
The most common reason why people still trade dead coins is the possibility of short-term profit.
Dead coins are cheap and extremely volatile. Traders can buy large quantities for a few dollars and hope for a sudden price pump. If the coin’s price jumps by even a small margin, the returns can be huge.
For example, when BitConnect (BCC) collapsed, it was widely assumed to be dead. Yet, months later, it showed brief surges in price on obscure exchanges — enough to tempt high-risk traders into jumping in.
It’s not about fundamentals. It’s about quick flips and fast money.
2. Speculation and Gambling Mindset
Let’s face it — crypto attracts a lot of speculators. And when it comes to dead coins, speculation takes on a whole new meaning.
Some people trade these coins purely for the thrill. They know the coin is dead, the project is abandoned, and the token has no utility. But they also know that the crypto market is unpredictable. That tiny chance of hitting a jackpot keeps them going.
It’s the same mentality that drives people to play penny stocks or buy lottery tickets. So why do people still trade dead coins? Because they want to be the one person who turns $100 into $10,000 — even if it rarely happens.
3. Pump-and-Dump Schemes
One dark reason why people still trade dead coins is that they’re easy targets for pump-and-dump schemes.
Here’s how it works:
- A group of traders (often organized on Telegram or Discord) pick a dead coin
- They buy in early and promote it with fake hype
- Social media gets flooded with bullish messages
- New investors jump in
- The original group sells at the top
Dead coins are ideal for this because they’re low volume and usually ignored by mainstream traders. There’s less resistance to price manipulation, and that makes them attractive to bad actors.
Sadly, many unaware traders get caught in the trap.
4. Wash Trading and Fake Volume
Sometimes, the answer to why do people still trade dead coins is: they don’t — it just looks like they do.
Small or unregulated exchanges sometimes use bots to simulate trading activity. This is called wash trading — when the same entity buys and sells a coin to itself to create the illusion of volume.
Why? It makes the exchange look active and helps them attract new users.
This fake volume can lure inexperienced traders into thinking the coin is “coming back,” prompting real trades based on a false signal. It’s manipulative, but it still contributes to the strange reality that people trade dead coins.
5. Meme Value and Internet Culture
Crypto isn’t just finance — it’s culture. And culture loves memes.
Sometimes, a dead coin isn’t revived for profits, but for laughs. Traders enjoy reviving old tokens as a joke or meme. The more absurd the coin, the more viral it gets.
Take Coinye, a coin based on Kanye West, or the “Useless Ethereum Token,” which literally stated that it had no purpose. Even after being abandoned, they popped up now and then in trading discussions.
Why do people still trade dead coins like these? Because internet culture thrives on irony — and a dead coin can suddenly become part of a new joke.
6. Emotional Attachment or Nostalgia
Some traders have held onto their bags for years. They invested early, believed in the project, and saw it fail. Yet, they can’t bring themselves to walk away.
Instead, they keep trading small volumes of the coin, hoping for a miracle recovery.
This is another reason why people still trade dead coins — emotional attachment. It’s not rational, but it’s real. These traders often “average down,” buying more at lower prices, believing that if they just wait long enough, it’ll bounce back.
Unfortunately, in most cases, it won’t.
7. Lack of Awareness
Not everyone keeps up with crypto news. Some traders stumble upon old coins on smaller exchanges and have no idea they’re dead.
They see a coin listed, check its price history, and assume it’s undervalued — without realizing the project is abandoned. They buy in, thinking it’s a hidden gem.
That’s how low-information trading adds to the mystery of why people still trade dead coins. It’s not always about strategy — sometimes, it’s just about not knowing better.
5 Most Asked Questions About Dead Coin Trading
Why do people still trade dead coins even after the team disappears?
Because some hope for price rebounds, others speculate on pumps, and some may not realize the project is abandoned.
Can a dead coin ever come back to life?
It’s rare, but possible. Some coins are rebranded or revived by new teams. However, most stay dead permanently.
Where are dead coins usually traded?
On smaller, less regulated exchanges that don’t delist inactive projects quickly.
Is it legal to trade dead coins?
Yes, but you should beware of manipulation. Pump and dump schemes are illegal in many countries.
How can I identify a dead coin?
Check the project’s website, social media, GitHub activity, and trading volume. If everything looks inactive or abandoned, it’s likely a dead coin.
What happens to dead coins?
Dead coins usually become illiquid, are delisted from major exchanges, and lose all real-world utility. While their data may still exist on the blockchain, they typically hold no economic value unless revived by a new project or community.
What is the most famous dead coin?
BitConnect (BCC) is arguably the most infamous dead coin. Once a top-20 cryptocurrency by market cap, it collapsed in 2018 after being exposed as a Ponzi scheme, wiping out billions in investor value.
How many dead cryptocurrencies are there?
As of recent estimates, there are over 2,400+ dead cryptocurrencies — coins that have been abandoned, delisted, or declared scams. This number keeps growing as new projects fail to sustain interest or funding.
Final Thoughts on Why Do People Still Trade Dead Coins?
So, why do people still trade dead coins?
Because the crypto market is not just about logic — it’s about emotion, hype, and high-stakes risk. Dead coins attract gamblers, speculators, meme traders, and sometimes scammers. They represent the wildest corners of the crypto space — where rational investing often takes a back seat.
If you’re ever tempted to trade one, take a deep breath and ask yourself: is this a calculated risk, or just wishful thinking?
Because once a coin is dead — it’s almost always dead for good.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
