The Crypto world is going through an unprecedented crisis with more than half of the digital tokens that have ceased all activity. According to geckoterminal data, on nearly 7 million cryptocurrencies listed since 2021, around 3.7 million went bankrupt, an alarming failure rate of 52.7 %.
In short
- More than 3.7 million cryptos have ceased their exchanges since 2021.
- The first quarter of 2025 concentrates almost 50% of all recorded failures.
- The launch of the Pump.Fun platform has contributed to the explosion in the number of Crypto projects.
- Only 1% of the same created on Pump.fun manage to survive.
3.7 million projects missing in four years
How many cryptos have really died in recent years? According to geckoterminal data, of nearly 7 million cryptocurrencies listed since 2021, around 3.7 million have ceased their exchanges and are considered bankrupt, a failure rate of 52.7 %.
This trend was dramatically accelerated between 2024 and early 2025, with a particular concentration in the first quarter of 2025. This critical period coincided with the inauguration of Donald Trump in January, followed by a notable slowdown in the cryptocurrency market.
The explosion in the number of projects shows a radical change in the ecosystem. In 2021, only 428,383 projects were geckoterminal. In 2025, this figure has reached nearly 7 million, or a multiplication by 16 in four years.
This exponential growth is widely explained by the arrival of platforms like Pump. Fun, which have democratized the creation of tokens.
These tools have enabled anyone to launch his own crypto without in -depth technical knowledge, flooding the market for same and projects with low fundamental value.
2025, dark year for cryptos
The first quarter of 2025 established a disastrous record with 1.8 million crypto projects having ceased all activity. This figure represents almost half (49.7 %) of all failures recorded between 2021 and 2025.
The year 2024 had already shown worrying signs with 1.4 million stranded projects (37.7 % of the total bankruptcy). Paradoxically, that same year had seen more than 3 million new cryptos were born, illustrating the extreme volatility in the sector.
The situation was very different before. Between 2021 and 2023, failures remained limited to less than 250,000 projects per year.
This recent explosion is widely explained by the emergence of platforms which drastically simplified the creation of tokens. Pump.fun is the perfect example: this platform has caused a wave of same and projects without real fundamental value.
Even at its peak in November 2024, the tokens' survival rate reached only 1.67 %. This rate has since fallen under 1 % for four consecutive weeks, reflecting the growing disinterest of investors for these speculative assets.
This massive hecatombe of cryptos highlights the importance of a rigorous analysis before any investment in this volatile sector. While thousands of projects disappear each month, investors gradually seem to favor digital assets established at the expense of ephemeral high -risk tokens.
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