1.8 Million Cryptocurrencies Went Bust in the First Quarter: The Token Graveyard is Growing!

According to the CoinGecko report, a quarter of the cryptocurrencies launched since 2021 failed in just the first quarter of 2025.

The cryptocurrency sector witnessed an unprecedented wave of token bankruptcies in the first quarter of 2025. CoinGecko's new report revealed that 1.8 million tokens became completely inactive during this period, equivalent to a quarter of all tokens launched since 2021.

According to data shared by CoinGecko analyst Shaun Paul Lee, 7 million cryptocurrencies have been tracked on GeckoTerminal since 2021, and more than 3.7 million of these have been removed from the market by halting trading.

The impact of Pump.fun is significant!

One of the main reasons for this extraordinary failure rate in cryptocurrency projects is attributed to the token creation platform Pump.fun. Launched at the beginning of 2024, Pump.fun has caused a significant increase in the number of low-quality projects by simplifying token creation processes. Approximately 98% of the tokens created on Pump.fun are withdrawn from the market without achieving lasting success.

The highest failure figures were recorded in 2024 with 1.3 million tokens, while in 2023 this number was only around 835,000. Especially after Donald Trump assumed the presidency in early 2025, the sharp fluctuations in the market brought a significant increase in the number of these failures.

The high share of failed tokens from Pump.fun indicates that investors need to be cautious. CoinGecko founder Bobby Ong points out that investor interest in meme coin projects has declined following negative experiences with projects like Libra (LIBRA).