3.7 million of the 7 million crypto projects listed by Coingecko in the past five years have failed, accounting for 87.4% from 2024 to 2025

According to a report by PANews on May 1, more than 50% of cryptocurrency projects have failed since 2021. Of the nearly 7 million cryptocurrencies listed on GeckoTerminal, 3.7 million have been discontinued.

As of March 31 in 2025, 1.8 million projects have failed, setting a record for the highest order year, accounting for 49.7% of the total number of project closures in the past five years. Following closely in 2024, 1.38 million projects failed, accounting for 37.7% of the total in the past five years. Before pump.fun was launched in 2024, the number of project failures was only six figures. Project failures between 2021 and 2023 accounted for only 12.6% of the total in the past five years. The number of projects has increased from 428,000 in 2021 to nearly 7 million in 2025, mainly due to the launch of pump.fun, the market has become flooded with a large number of meme coins and low-quality projects.