How One Market Crash Wiped Out Millions of Tokens

[madtrader]

The fourth quarter of 2025 was especially brutal, with 7.7 million tokens on GeckoTerminal ceasing trading activity. Shaun Paul Lee identified the Oct. 10 market crash — which liquidated more than $19 billion in leveraged positions in a single day — as a major trigger behind the collapse.

Memecoins were hit hardest, acting as a barometer for investor risk appetite. As volatility spiked and confidence faded, speculative projects were the first to disappear, revealing how fragile large portions of the crypto ecosystem had become under stress.

[chainsniff]

leverage nukes everything eventually, ppl just forget that every cycle

[JanEmil]

We don't need those meme coins anyway. Just gambling.