More than 11 million crypto tokens failed in 2025 alone, according to CoinGecko data.

Source: Yellow Original Title: More than 11 million crypto tokens failed only in 2025, according to CoinGecko data

Original Link: https://yellow.com/es/news/más-de-11-millones-de-tokens-cripto-fracasaron-solo-en-2025-según-datos-de-coingecko More than 53% of all tracked cryptocurrencies have failed since 2021, and only 2025 accounts for 11.6 million collapsed tokens — or 86.3% of all recorded project failures.

What happened: crypto collapse data

A study analyzing cryptocurrency projects listed on GeckoTerminal between July 1, 2021, and December 31, 2025, found that the fourth quarter of 2025 was particularly devastating.

About 7.7 million tokens collapsed during that three-month period, representing 34.9% of all failures.

Researchers attributed much of this decline to the “liquidation cascade” on October 10, when $19 billion in leveraged positions were wiped out in 24 hours — the largest deleveraging event in a single day in crypto history.

The total number of cryptocurrency projects skyrocketed from 428,383 in 2021 to nearly 20.2 million in 2025, a boom that CoinGecko linked to the ease of launching tokens on specialized platforms.

Before the launch of token generation platforms in 2024, annual project failures were counted in the low six figures; 2024 recorded nearly 1.4 million failures (10.3% of the five-year total), while the combined period from 2021 to 2023 accounted for only 3.4%.

Why it matters: market sustainability

The findings raise questions about the sustainability of the current token ecosystem.

The memecoin sector bore most of the turbulence in the 2025 market, with low-effort projects flooding exchanges only to collapse when conditions deteriorated.

CoinGecko’s methodology only counted tokens that recorded at least one transaction before becoming inactive, and only included tokens from specialized platforms that had “graduated,” suggesting that the actual failure rate could be even higher.