More than 50% of cryptocurrencies tracked on CoinGecko have ceased to exist. These research results were published on the aggregator’s website.
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Out of 24,000 cryptocurrency projects presented on CoinGecko since 2014, 14,039 have ceased to exist.
The majority of currently “dead” projects were launched in 2020-2021 – 7,530 cryptocurrencies or 53.6% of the total.
CoinGecko experts associate such indicators with the popularity of the initial offering of coins and meme tokens.
2021 was the most unsuccessful year for startups – 5724 or more than 70% of projects were closed. It is followed by 2022 with 3520 failures (~60%).
Of those launched in 2023, 289 projects (less than 10%) had failed as of January 2024.
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When compiling the report, CoinGecko experts, in addition to outright scam, also took into account closed illiquid projects and cryptocurrencies that have not demonstrated trading activity for the last 30 days.