More than half of crypto assets launched since 2021 have 'died'…11.6 million delisted in 2025 alone
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Summary
- It reported that 53.2% of crypto assets introduced from mid-2021 to end-2025 have stopped trading.
- It said about 11.6 million tokens disappeared from the market in 2025 alone, and about 7.7 million tokens halted trading in Q4.
- It analyzed that this was the result of a structure vulnerable to short-term speculation after the $19 billion leveraged-position liquidations, alongside an influx of tokens lacking technical capability and real economic value.
More than half of the virtual assets (cryptocurrencies) launched since mid-2021 are no longer trading, data showed.
According to crypto-focused outlet CoinDesk on the 14th (local time), 53.2% of roughly 20.2 million virtual assets that came to market from mid-2021 through end-2025 are currently no longer trading. In 2025 alone, about 11.6 million tokens were tallied as having disappeared from the market.
By year, the number of tokens removed totaled just 2,584 in 2021, then surged to about 1.3 million in 2024 before exploding in 2025.
In particular, in the fourth quarter of 2025, about 7.7 million tokens halted trading in just three months, accounting for roughly 35% of all projects that have failed since 2021.
The outlet noted that the spike came after the so-called “liquidation domino” last Oct. 10, when about $19 billion in leveraged positions were liquidated at once. That episode, it said, underscored how the crypto market at the time was structurally overly vulnerable to short-term speculation.
“The crypto market’s low barriers to entry can foster innovation, but it also has a structural limitation in that a large number of projects lacking technical capabilities or real economic value can flow in,” the outlet analyzed.
