


In recent years, with the increase in interest in the cryptocurrency market, new tokens have been rapidly launched. However, in 2025, most of these new projects faced an unexpected collapse. An analysis published by CoinGecko reveals that 53% of the tokens issued between 2021 and 2025 are no longer trading. During this period, a total of approximately 20.2 million tokens were listed, and 13.4 million of them are no longer active today.
The analysis shows that 11.6 million tokens failed within the year 2025. This situation suggests that 86% of all token deaths in the last five years occurred in just one year. While only 2,584 projects failed in 2021, this number exceeded 1.3 million by 2024. However, by the time 2025 arrived, the situation experienced an explosion.
A significant factor in this collapse in the crypto market was the meme coin frenzy. According to one of CoinGecko's analyses, platforms that allow easy token issuance facilitated the production of tokens without requiring extensive knowledge or long-term planning. Particularly, launchpad platforms like pump.fun laid the groundwork for the rapid release of many low-effort and short-lived projects. The vast majority of these projects faded into silence after just a few transactions.
The period in which the most severe collapse occurred was the last quarter of 2025. During this process, 7.7 million tokens were removed from the market in just three months. This significant collapse followed a $19 billion leverage liquidation on October 10, 2025. CoinGecko analyst Shaun Paul Lee stated that this event was recorded as the largest deleveraging process in crypto history.
These developments indicate that cryptocurrency markets can grow rapidly due to low entry barriers, but for the same reason, they can also reach a saturation point quickly. Investors need to be more cautious and focus on market analyses. In the upcoming period, it should be observed which projects are sustainable and their lasting effects on the market.
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