According to a new study by GeckoTerminal, over the past 4 years, the cryptocurrency market has been swept by a real wave of "token deaths" — more than 3.7 million cryptocurrencies have gone bankrupt since 2021.
In Q1 2025 alone, 1.8 million tokens collapsed, accounting for almost 50% of all crashes since 2021. In 2024, there will be another 1.4 million crashes (37.7%).
The main reasons are:
Simplified Launch of Meme Coins on Pump.fun (Solana)
A surge in speculative activity
General instability in the market after Trump's inauguration and the drawdown of the crypto market in early 2025
At the same time, the number of new tokens has also skyrocketed:
In 2021: about 428,000 projects
In 2025: almost 7 million, including thousands with minimal real value
GeckoTerminal emphasizes that despite the hype, the vast majority of tokens are created without a long-term strategy — and quickly disappear from the market.