In Q1 2025, the crypto market witnessed a sharp rise in token failures, as nearly 2 million digital assets collapsed.

Over 1.8 million digital tokens failed or were abandoned in the first three months of this year, a figure that constitutes nearly half (49.7%) of total crypto failures recorded since 2021, according to CoinGecko.

While dead tokens have spiked, the crypto space has seen a massive influx of new projects.

In 2021, GeckoTerminal recorded 428,383 listed crypto projects.

Now in 2025, the number has risen dramatically to close to 7 million.

As of March 31, 2025, 1.8 million crypto projects have already been pronounced dead, marking the year with the highest number of failures.

These project…