CoinGecko compiled dead token data on its platform since 2014, showing that 2021 was the biggest year for deactivated coins, coming in with 3,322 projects folding.
Unusually, deep within crypto winter, the number of dead tokens for the current year is significantly fewer than the prior year, at 951.
Source: CoinGecko.com
947 dead crypto projects expected per year
As the bull market was picking up pace in 2021, more than 8,000 projects in total were listed on CoinGecko. However, currently, “nearly 40% have been deactivated and delisted” since then.
“This is 2.5 times higher than the amount of cryptocurrencies listed in 2020 that failed, and 3.5 times higher than 2022 YTD.”
Explaining the significant rise in dead coins in 2021, the platform apportioned blame on “‘meme coin season” which was prevalent during the mania of last year.
At this time, many projects sprung up with anonymous dev teams offering investors “little to no value.” These projects often failed due to be
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