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“More than half of all cryptocurrencies ever launched are now defunct,” reports CoinDesk, citing a new analysis by cryptocurrency data aggregator CoinGecko.
And most of those failures occurred in 2025:
The study looked at token listings on GeckoTerminal between mid-2021 and the end of 2025. Of the nearly 20.2 million tokens that entered the market during that period, 53.2% are no longer actively traded. A staggering 11.6 million of those failures happened in 2025 alone…

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