Analysis: 53.2% of cryptocurrencies launched since 2021 have ceased trading

Of the approximately 20.2 million cryptocurrencies that entered the market between mid-2021 and the end of 2025, 53.2% are no longer trading, Coindesk reported, citing data from CoinGecko. The number of failed tokens surged in 2025, with 11.6 million projects delisted that year alone, a sharp increase from 1.3 million in 2024 and 2,584 in 2021. A significant portion of these failures occurred in the fourth quarter of 2025, when 7.7 million tokens disappeared from the market in just three months, representing 35% of all failed projects since 2021. This period followed a "liquidation domino" event on Oct. 10, 2025, which saw the simultaneous liquidation of $19 billion in leveraged positions. The report noted that this highlights the market's vulnerability to short-term speculation and the double-edged nature of its low barrier to entry, which allows for a large influx of projects lacking robust technology.