自2020年以來，僅在2025年第一季度就啟動了四分之一的加密代幣。

Coingecko的分析表明，所有加密貨幣中有50％以上失敗了。在其壁虎上列出的近700萬個令牌中

Nearly one in four crypto tokens launched since 2021 have failed in the first quarter of 2025 alone, as a market downturn and easier token creation fuel the surge in collapses, data from CoinGecko shows.

Coingecko的數據顯示。

The analysis by the cryptocurrency market tracker reveals that more than 50% of all cryptocurrencies have failed.

加密貨幣市場跟踪器的分析表明，所有加密貨幣中有50％以上失敗了。

Out of nearly 7 million tokens listed on its GeckoTerminal since 2021, 3.7 million are no longer trading and are deemed failures, the data shows.

數據顯示，自2021年以來，在其壁虎上列出的近700萬個令牌中，有370萬個不再交易，被認為是失敗的。

Most of the 52.7% of failed crypto tokens on GeckoTerminal took place in 2024 and early 2025. In the first quarter of 2025 alone, 1.8 million tokens collapsed, accounting for nearly 50% of all recorded project failures.

在壁虎上的52.7％的加密代幣中，大部分是在2024年和2025年初發生的。僅在2025年的第一季度，180萬代幣就倒塌了，佔所有記錄的項目失敗的近50％。

CoinGecko suggested that the sharp drop in token survivability may be linked to broader market instability. This decline coincided with the inauguration of U.S. President Donald Trump in January, which marked a downturn in the crypto market.

Coingecko建議，令牌生存能力的急劇下降可能與更廣泛的市場不穩定有關。這一下降恰逢美國總統唐納德·特朗普（Donald Trump）在一月份的就職典禮，這標誌著加密貨幣市場的低迷。

The number of crypto projects listed on GeckoTerminal surged dramatically over the past few years. From just 428,383 listings in 2021, the total has swelled to nearly 7 million by 2025.

在過去的幾年中，在壁虎上列出的加密項目數量急劇飆升。從2021年的428,383個上市開始，到2025年，總數已膨脹到近700萬。

CoinGecko pointed to the launch of pump.fun as a key driver behind the surge in token creation, noting that the platform made it significantly easier to mint new coins—many of which were meme-based or lacked substantial development.

Coingecko指出，泵的推出是代幣創建激增的關鍵驅動力，並指出該平台使薄荷新硬幣變得更加容易，其中許多是基於模因或缺乏實質性開發的。

Pump.fun is a Solana-based platform that allows anyone to quickly create and launch meme coins with minimal effort. While it’s credited with driving massive token creation, it’s also sparked criticism for encouraging low-quality, speculative projects and saturating the market with short-lived coins.

Pump.Fun是一個基於索拉納的平台，可讓任何人以最少的精力快速創建和啟動模因硬幣。儘管它以推動大量的代幣創建而聞名，但它也引發了批評，以鼓勵低質量，投機項目並用短暫的硬幣使市場飽和。

Image Credit: CoinGecko

圖片來源：Coingecko

In 2024, a record-breaking 3 billion new crypto projects were launched, making it the busiest year for token creation. Despite the surge, nearly 1.4 billion of those projects failed—making up 37.7% of all crypto collapses recorded since 2021.

2024年，啟動了創紀錄的30億個新加密項目，使其成為代幣創建最繁忙的一年。儘管有激增，但這些項目中有近14億次失敗 - 自2021年以來記錄的所有加密貨幣中佔37.7％。

Additionally, CoinGecko noted that prior to the debut of pump.fun in 2024, crypto project failures remained in the low six-figure range. From 2021 to 2023, these early failures accounted for only 12.6% of all recorded collapses in the last five years.

此外，Coingecko指出，在2024年泵的首次亮相之前。從2021年到2023年，這些早期失敗僅佔過去五年中所有記錄的崩潰的12.6％。

The sharp rise and fall of crypto tokens in recent years reflects the volatile nature of the space—and the growing need for smarter participation. As the landscape continues to evolve, investors and developers alike are being pushed to rethink what sustainability means in a world where anyone can launch a token, but not every project can stand the test of time.

近年來，加密代幣的急劇上升和下降反映了該空間的動盪性，以及對更智能參與的需求日益增長的需求。隨著景觀的不斷發展，投資者和開發商都被迫重新考慮在任何人都可以推出令牌的世界中，可持續性的含義，但並非每個項目都能經受時間的考驗。