1.8 Million Cryptocurrency Went Bankrupt in the First Quarter: Token Graveyard is Growing! - Koin Bulletin

According to the CoinGecko report, a quarter of the cryptocurrencies released since 2021 failed only in the first quarter of 2025.

The cryptocurrency sector witnessed an unprecedented wave of token bankruptcies in the first quarter of 2025. CoinGecko’s new report revealed that during this period, 1.8 million tokens were completely deactivated, which corresponds to a quarter of all tokens released since 2021.

According to data shared by CoinGecko analyst Shaun Paul Lee, 7 million cryptocurrencies have been tracked on GeckoTerminal since 2021, and more than 3.7 million of them have been removed from the market by ceasing trading. The first quarter of 2025 alone accounts for nearly half of these failures, ringing alarm bells for the industry.

The effect of Pump.fun is significant!

One of the most important reasons for the extraordinary failure rate in cryptocurrency projects is attributed to the token creation platform Pump.fun. Launched at the beginning of 2024, Pump.fun simplified the token creation processes, leading to a significant increase in the number of low-quality projects. Approximately 98% of the tokens created on Pump.fun are removed from the market without achieving lasting success.

The highest failure rates were recorded in 2024 with 1.3 million tokens, while in 2023 this number was only around 835 thousand. Especially the sharp fluctuations in the market following Donald Trump’s assumption of the presidency in early 2025 led to a significant increase in the number of these failures.

The fact that the share of failed tokens in Pump.fun is so high shows that investors need to be cautious. Bobby Ong, the founder of CoinGecko, points out that investor interest in memecoin projects has decreased following bad experiences like Libra (LIBRA).