Over 50% of cryptocurrencies tracked by CoinGecko have failed

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Of the 24,000 cryptocurrency projects that have been presented on the CoinGecko aggregator since 2014, 14,039 have ceased to exist.

Ever wondered how many cryptocurrencies have failed?

Our study shows that over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.

Read the full study: https://t.co/idaxCf0SWH pic.twitter.com/GFjERHU4co
— CoinGecko (@coingecko) January 15, 2024

Most of the currently “dead” projects were launched during the bull run period in 2020–2021 - 7,530 cryptocurrencies or 53.6% of the total.

CoinGecko experts attribute such indicators to the popularity of initial coin offerings and meme tokens.

The worst year for startups was 2021 - 5,724 or more than 70% of projects closed. This is followed by 2022 with 3520 failures (~60%).

Of those launched in 2023, 289 projects (less than 10%) had failed as of January 2024.

When compiling the report, CoinGecko experts, in addition to outright scam, also took into account closed illiquid projects and cryptocurrencies that have not shown trading activity for the last 30 days.

Let us recall that in November 2023, CoinGecko analysts reported the closure of 75% of GameFi projects since the inception of the segment.

According to the Big Blockchain Games List, almost a third of blockchain games have ceased to exist in the past year.