Over 3.6 Million Cryptocurrencies Have Failed Since 2021

Data from GeckoTerminal reveals that the failure rate of listed cryptocurrencies has surged to 52.7%, highlighting an increasingly volatile and oversaturated market.

In Q1 2025, more than 1.8 million tokens vanished from trading platforms—almost equal to all project failures in 2024, which totaled 1.38 million. The timing of these shutdowns aligns with a broader crypto downturn and economic uncertainty that followed President Donald Trump’s return to office in January 2025.

Token Creation Skyrockets — but So Do Failures

The total number of crypto projects has exploded in recent years, jumping from 428,383 in 2021 to nearly 7 million in 2025. This rapid growth is largely driven by pump.fun, a platform that made it easy for users to create meme coins and low-effort tokens with little technical know-how.

However, many of these tokens never made it past a few trades. Most had little to no utility, and many were abandoned or rugged shortly after launch. Of all crypto failures from 2021 to 2025, 88% happened in just the last two years.

Quick Stats on Crypto Deaths (2021–2025)

2021: 2,584 failed projects 2022: 213,075 2023: 245,049 2024: 1,382,010 2025 (Q1 only): 1,821,549

With nearly 1 in 2 tokens launched in 2025 already dead, the data paints a cautionary picture for new investors and developers. This surge in project deaths also reflects market saturation and speculative excess in a space still seeking regulatory clarity and technological maturity.

The post Over 3.6 Million Cryptocurrencies Have Failed Since 2021 appeared first on Coindoo.