3.7M Cryptos Vanish Since 2021, Halving Market Post-Pump.fun
Key Notes
- 3.7 million crypto tokens disappeared between 2021 and 2025.
- Half of the losses occurred throughout the Pump.enjoyable meme coin wave.
- 1.8 million tokens vanished in Q1 2025 alone.
The crypto market has seen the disappearance of over 3.7 million tokens since 2021, with practically half of these losses occurring throughout the Pump.fun-driven meme coin section in 2024 and early 2025.
A latest CoinGecko report revealed that 52.7% of all cryptocurrencies listed on GeckoTerminal, a crypto pricing platform, have exited the market, with the vast majority of these losses occurring over the previous yr.
Within the first quarter of 2025 alone, the crypto market noticed the disappearance of 1.8 million tokens, accounting for as much as 49.7% of all recorded failed initiatives. As compared, 2024 noticed roughly 1.4 million tokens disappear, representing round 37.7% of whole failures that yr.
Variety of cryptocurrencies which have failed since 2021. Supply: CoinGecko.com
The analysis outlined useless tokens as these now not actively traded, noting that solely tokens with not less than one recorded commerce earlier than changing into inactive have been counted. The information used within the examine spans from July 2021 to March 2025.
Why So Many Tokens Died
The analysis urged that the sharp rise in token failures over the previous yr could also be linked to elevated monetary market volatility, significantly following the inauguration of U.S. President Donald Trump, although it additionally famous this could possibly be coincidental.
One other issue behind the excessive variety of token failures will be the dramatic enhance within the variety of tokens listed between 2021 and 2025. GeckoTerminal recorded 428,383 initiatives in 2021, in comparison with 7 million in 2025, a placing distinction. The launch of Pump.enjoyable has been linked to this rise, because it considerably lowered the barrier to creating meme cash and low-effort initiatives.
Earlier than Pump.enjoyable debuted in 2024, the variety of failed initiatives was considerably decrease. Between 2021 and 2023, failures remained throughout the decrease finish of the six-figure vary, accounting for simply 12.6% of the whole token loss.
Not all is doom and gloom, nonetheless. Whereas many meme cash have failed, some proceed to carry out effectively. For instance, FartCoin saw a 30% increase earlier this month, pushing its market capitalization above $1 billion for the primary time and making it the 62nd largest cryptocurrency by market cap.
Regardless of the variety of meme cash that disappear, high-quality initiatives will at all times rise to the highest.
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