CoinGecko Research Says More Than 53% of Cryptocurrencies Have Failed

• Over 11.6 million cryptocurrency tokens went extinct in 2025.
• About 53% of all cryptocurrencies on  GeckoTerminal have failed.
• Approximately 80% of all 2017 ICOs turned out to be scams.

According to data released by CoinGecko Research, over 11.6 million cryptocurrency tokens went extinct in 2025. That is by far the highest volume in crypto assets to die in a single year, bringing the total number of dead tokens since 2021 to over 13.4 million.

The October 10 “Liquidation Cascade”

The above illustration highlights the severity of the clearout experienced in the cryptocurrency industry over the past 12 months, which research analysts linked to the broader market turbulence throughout the year, particularly across the memecoin sector. 

According to CoinGecko Research, over 53% of all cryptocurrencies on its terminal have failed. The group further stated that 34.9% of this collapse, equivalent to 7.7 million tokens, happened within the fourth quarter of 2025.

It is worth noting that the October 10 crypto market “disaster,” which many analysts described as a “liquidation cascade,” represents the most significant event that led to the death of crypto tokens in 2025. The event marked a record-breaking liquidation of $19 billion in leveraged positions in less than 24 hours.

A Unique Year in the Crypto Industry

Although 2025 marked the year with the highest number of cryptocurrency failures, it is crucial to note that it was also the period with the most significant influx of new crypto projects. As of 2021, only 428,383 projects were listed on GeckoTerminal. This figure skyrocketed to nearly 20.2 million projects in 2025, owing to the increased ease of launching tokens on launchpads, particularly memecoins.

Where Are the 2017 ICOs?

A CoinMarketCap report described Dead Coins as digital assets of projects that have been abandoned, turned out to be scams, have low liquidity, or have insufficient funding, among many other reasons. Most projects under this category are characterized by the promise of high returns, with the creators disappearing after collecting investors’ funds.

According to CoinMarketCap’s data, approximately 80% of all 2017 ICOs turned out to be scams and have all disappeared. They represent a notable portion of the failed cryptocurrency tokens highlighted by the CoinGecko Research report.

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