[Data shows that more than 50% of tokens listed on CoinGecko have died since 2014]
New research from CoinGecko shows that more than half of the cryptocurrencies listed on the platform have disappeared since 2014. Of the approximately 24,000 listed cryptocurrencies, a staggering 14,039 no longer exist. The report noted that most of these disappeared digital assets came from the bull market period of 2020-2021, which accounted for 53.6% of the cryptocurrencies that died, reaching 7,530 projects.
During the 2017-2018 bull market, more than 11,000 projects were listed, of which approximately 70% have closed. Specifically, approximately 1,450 projects ceased operations during 2017-2018, consistent with a failure rate of approximately 70%. Analysts believe that the reason for the significant growth in the number of death coins during 2020-2021 is that it has become easier to issue currency, coupled with the popularity of meme coins. Many meme coin projects have been abandoned due to lack of actual product.
Cryptocurrencies listed in 2021 have been particularly unlucky, with 5,724 of them having failed as of January 2024, and more than 70% of cryptocurrencies listed that year perishing. The failure rate for cryptocurrencies listed in 2022 is 60%, with 3,520 projects ending operations. In comparison, only 289 of the more than 4,000 cryptocurrencies listed in 2023 failed, a failure rate of less than 10%, showing a significant downward trend compared to previous years.
