The market will lose more than 11 million crypto projects in 2025, with memecoins leading the way.

The cryptocurrency market in 2025 faced an unprecedented level of project mortality. According to CoinGecko analysts, approximately 11.6 million crypto projects lost their existence in one year, which is almost ten times higher than the economic growth rate for the year.

By comparison, only a few thousand closures were recorded in 2021, but by 2024, the number had reached 1.4 million. Moreover, 2025 was a difficult year, accounting for more than 86% of all failed projects over the past five years.

The bulk of these failures were apparently memecoins, created en masse on pump.fun platforms. Such tokens are often launched in minutes, without a team, economics, or long-term goals, making them vulnerable to any market fluctuations.

The most difficult period was the fourth quarter of 2025: over three months, the market amounted to approximately 7.7 million tokens. The sharp collapse on October 10th played a significant role, with margin positions worth approximately $19 billion liquidated in one day.

Despite this, the total number of crypto projects continues to grow and exceeded 20 million by the end of 2025. However, most of them failed to survive their first year of existence.