1.8 Million Cryptocurrencies Died in Q1 2025, CoinGecko Reports
The crypto market continues to expand rapidly — but not all tokens survive. According to a new report from CoinGecko, over 1.8 million cryptocurrencies failed in the first quarter of 2025 alone, marking the highest number of token collapses ever recorded in a single quarter.
Since 2021, the CoinGecko team has tracked around 7 million token listings via its GeckoTerminal platform. Analyst Shaun Paul Lee confirmed that more than 3.7 million of those tokens have disappeared from the market, representing a failure rate of over 50%.
“Nearly 1 in 4 tokens listed since 2021 disappeared in Q1 2025 alone,” said Lee. “That’s 1.8 million failures in just three months.”
Pump.fun Behind the Explosion of Failed Tokens
CoinGecko attributes much of the rise in token failures to the launch of Pump.fun, a tool that allows anyone to create tokens with minimal effort. Since its debut in early 2024, it has fueled a wave of low-effort and meme-driven coin launches — many of which failed within weeks.
In fact, 2024 saw over 3 million new tokens hit the market, more than any other year to date.
“Pump.fun has a 98% failure rate,” Lee added, noting that while it helped democratize token creation, it also flooded the space with unsustainable projects.
Altcoin Market Faces Harsh Reality
While some altcoins achieve longevity and adoption, the data makes clear that most do not. With market volatility persisting and token quality dropping, investors are urged to exercise caution and do their due diligence.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
