PANews reported on May 1 that according to a report by Coingecko, more than 50% of cryptocurrency projects have failed since 2021. Of the nearly 7 million cryptocurrencies listed on GeckoTerminal, 3.7 million have stopped trading.
As of March 31, 2025, 1.8 million projects have failed, the highest number in a single year, accounting for 49.7% of the total number of project closures in the past five years. 2024 follows closely with 1.38 million projects failing, accounting for 37.7% of the total number in the past five years. Before the launch of pump.fun in 2024, the number of project failures was only in the six figures. Project failures between 2021 and 2023 account for only 12.6% of the total number in the past five years. The number of projects increased from 428,000 in 2021 to nearly 7 million in 2025, mainly due to the launch of pump.fun, which flooded the market with meme coins and low-quality projects.
