Author: Shaun Paul Lee, Source: Coingecko; Compiler: Songxue, Golden Finance
Over 50% of cryptocurrencies are dead. Since 2014, 14,039 of the more than 24,000 cryptocurrencies listed on CoinGecko have died.
Most of the cryptocurrencies that died were projects launched during the bull market from 2020 to 2021. 7,530 cryptocurrencies died during the period, accounting for 53.6% of all cryptocurrencies that died on CoinGecko. During the last bull run, more than 11,000 cryptocurrencies were listed on CoinGecko, about 70% of which have since been delisted.
In comparison, 1,450 projects launched during the 2017-2018 bull market have been closed. This is in the context of over 3,000 cryptocurrencies listed, with a failure rate of approximately 70%.
The higher number of tokens dying during 2020-2021 can be attributed to the ease of token deployment and the rise in popularity of meme coins. However, many memecoin projects start without a product, and most of them are abandoned within a short period of time.
Launched in 2021 Cryptocurrencies have been hardest hit, with 5,724 cryptocurrencies dead as of January 2024. Over 70% of the cryptocurrencies listed on CoinGecko died in 2021, making it the worst year for project launches.
Second are the cryptocurrencies launching in 2022, with 3,520 cryptocurrencies having died so far, a rate of about 60%.
Death of 289 Cryptocurrencies Listed on CoinGecko in 2023. This translates to a failure rate of <10% and over 4,000 cryptocurrencies listed, a significant decrease from previous years.
The number of cryptocurrency deaths by launch year is:
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