Earlier than meme coin launchpads surged, crypto challenge failures remained comparatively low.
Greater than half of all cryptocurrencies tracked on CoinGecko’s GeckoTerminal have now failed. Such a big quantity of collapse in token survivability is pushed largely by extra hypothesis and market instability.
In response to the crypto aggregator’s newest report, 53.2% of all cryptocurrencies listed on GeckoTerminal are labeled as useless, and the vast majority of failures occurred in 2025.
Crypto Undertaking Failures
Roughly 11.6 million tokens collapsed, which accounted for 86.3% of all cryptocurrency failures recorded between 2021 and 2025. The dimensions of the losses is a pointy break from earlier years and signifies the rising fragility of a market more and more saturated with short-lived tasks, notably inside the meme coin phase.
CoinGecko stated that the fourth quarter of 2025 was particularly damaging. Throughout a interval of those three months alone, there have been 7.7 million tokens that failed, which represented 34.9% of all recorded challenge collapses. Curiously, this surge in failures coincided with elevated systemic stress following the October 10 liquidation cascade, when roughly $19 billion in leveraged positions have been worn out inside 24 hours, which made it the most important single-day deleveraging occasion in crypto market historical past.
Whereas market volatility intensified in 2025, the variety of cryptocurrency tasks continued to increase quickly. The overall variety of tasks listed on GeckoTerminal grew from simply 428,383 in 2021 to just about 20.2 million by 2025. The report attributed this explosive development to the growing ease of token creation through launchpads, which has lowered obstacles to entry and inspired a wave of low-effort meme cash and experimental tasks.
Failure Charges Spiked After 2023
Yearly failure knowledge revealed how sharply situations deteriorated. In 2021, solely 2,584 tasks failed. The determine rose to 213,075 in 2022 and 245,049 in 2023. Failures accelerated considerably in 2024 and reached roughly 1.38 million earlier than surging to greater than 11.56 million in 2025.
Regardless of 2024 recording over 3 million new launches and the second-highest variety of challenge closures, it nonetheless accounted for simply 10.3% of complete failures over the 5 years. CoinGecko discovered that earlier than 2024, and earlier than platforms corresponding to Solana-based meme coin launchpad Pump.enjoyable gained traction, annual crypto challenge failures remained within the low six figures, whereas the mixed failures from 2021 to 2023 represented solely 3.4% of all closures since 2021.
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