2025 Became the Deadliest Year in Crypto History
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Crypto market turbulence hit hard in 2025, pushing the number of failed crypto projects to over 11.6 million — the highest ever recorded in a single year. According to data from CoinGecko’s GeckoTerminal, a “failed” token is one that was once actively traded but has since stopped all trading activity.
The scale of the collapse dwarfs previous years. In comparison, around 1.3 million projects failed in 2024, while just 2,584 failures were recorded in 2021, highlighting how dramatically risk and speculation intensified across the market.