Cryptocurrency crash: Half of the created digital currencies have ceased to exist.
Crypto Crash Course: Top Tokens Flopping Like Pancakes
Ever wondered why the number of dead jargon in the crypto world seems to exponentially grow? Well, hold on tight and let's dive head first!
CoinGecko, your go-to crypto rating aggregator, unveils a jaw-dropping truth - a staggering 52% of cryptos born since 2021 have bitten the dust. This puts the token countdown clock at a whopping 3.7 million obsolete projects, making ‘em as worthless as yesterday's news.
Let's kick it off with the Q1 in 2025; a period when 1.8 million tokens went kaput, shattering records with a 49.7% death rate. Analysts aren't breaking their cryptanalysis bones to understand that this massive demise might be the grim reaper's dance floor courtesy of broader market chaos, especially after the least jovial dance party — the Donald Trump inauguration in January 2025. This was followed by a dismal cryptocurrency market downturn (can't blame him for everything right?).
Now don't forget to munch on some fascinating stats, dear reader: from 428,000 rookie cryptos in 2021 to a dizzying 7 million in 2025, the crypto circus has grown ten-fold. CoinGecko's no-nonsense data reveals this epic growth was thanks to automagic token creation tools like Pump.fun, which simplified the token issue-tivity, welcomed a horde of inflatable meme coins, and spread crypto inflation faster than a flu season.
Crushing waves of meme coins and subpar token projects washed over the market in 2024, claiming nearly 1.4 million victims, or is it "support" organizations? Either way, that's about 37.7% of all failures since 2016. 2024, for the record, was a doozy — it boasted the greatest number of crypto launches with a hefty 3 million newcomers.
From 2021 to 2023, token failures accounted for a mere 12.6% of overall deaths. Shocking, right? But fear not, for every crypto archangel like Elon Musk, there's a Frankenstein token ready to loom in the dark corners of cyberspace, waiting to be plugged in!
Oksana Kuznetsova, your friendly local crypto journalist, keeps a watchful gaze on this rollercoaster ride of cryptic constellations.
Sources:
- Enrichment Insight 1
- Enrichment Insight 2
- Enrichment Insight 3
- Enrichment Insight 4
- Enrichment Insight 5
The financial industry has seen a significant impact from the cryptocurrency market due to the high number of failed tokens, with technology playing a crucial role in this surge via automagic token creation tools like Pump.fun. This situation has raised concerns for the fintech sector, as the continuous death of tokens seems to resemble a fintech storm in the crypto market.
