PANews reports on May 1st that according to Coingecko, over 50% of cryptocurrency projects have failed since 2021. Among nearly 7 million cryptocurrencies listed on GeckoTerminal, 3.7 million have ceased trading.
By March 31, 2025, 1.8 million projects have failed, setting a record high for a single year, accounting for 49.7% of project closures in the past five years. In 2024, 1.38 million projects failed, representing 37.7% of the total in the past five years. Before pump.fun's launch in 2024, the number of failed projects was only in six digits. Project failures between 2021 and 2023 accounted for only 12.6% of the total in the past five years. The number of projects increased from 428,000 in 2021 to nearly 7 million in 2025, mainly due to pump.fun's launch, which flooded the market with numerous meme coins and low-quality projects.
