TechFlow, May 6 — According to a recent research report by CoinGecko, out of nearly 7 million cryptocurrency projects registered since 2021, about 3.7 million have ceased trading, resulting in a failure rate as high as 52.7%. The first quarter of 2025 was the worst period, with 1.8 million projects failing—accounting for 49.7% of all historical failures.
The analysis indicates that the token creation platform pump.fun, launched in 2024, lowered the barrier to token issuance, leading to an influx of low-quality projects into the market. Particularly after Trump's inauguration in January 2025, increased volatility in the crypto market further accelerated project淘汰. In contrast, the total number of project failures between 2021 and 2023 accounted for only 12.6% of all failures over the past five years.
