TechFlow, Jan. 14 — According to CoinGecko's latest research report, by the end of 2025, 53.2% of global cryptocurrency projects had failed. The year 2025 became the peak period for crypto failures, with 11.56 million projects collapsing—accounting for 86.3% of total failures over the past five years.
Notably, in Q4 2025 alone, approximately 7.7 million tokens collapsed, representing 34.9% of all historically failed projects. The report attributes this crash wave primarily to the "liquidation chain reaction" event on October 10.
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