cryptocurrency: Zombie crypto coins beat Bitcoin during this year’s resurgence

The bursting of the crypto bubble was supposed to be the end for thousands of coins that sprung up in the wake of Bitcoin’s staggering success.

But guess what digital tokens are outperforming the original as it surges more than 40 per cent to $10,000 this year — coins like Einsteinium and Kick that were written off long ago. Those coins, along with dozens more, have more than doubled since December.

These so-called alternative (or alt) coins are staying afloat and even flourishing thanks to the hundreds of exchanges worldwide offering investors attractive terms to trade and capitalize on the renewal of risk taking in crypto. Malta-based giant Binance, for instance, has also been issuing fresh coins on its network. While the market for initial coin offerings is a tiny fraction of what it was in 2018, it’s still alive. Last year, companies raised $3.26 billion through various types of coin sales, according to tracker CoinSchedule.

“I’ve long expected the…