2025年是死亡加密項目最糟糕的一年

Coingecko的一份新報告稱，2025年是死去的加密項目最糟糕的一年，僅第1季度就崩潰了180萬個令牌。

A new report by CoinGecko has claimed that 2025 has seen a worse year yet for dead crypto projects, with 1.8 million tokens collapsing in Q1 alone. This represents 49.7% of all crypto project failures from 2021 to 2025.

Coingecko的一份新報告聲稱，死者加密項目的2025年卻差不多一年，僅第1季度就會崩潰180萬個令牌。這佔2021年至2025年所有加密項目失敗的49.7％。

CoinGecko’s analysis focused on the concrete data, not on establishing the culprit. Yet, it did hypothesize that market volatility under Trump’s Presidency is responsible for this extreme failure rate.

Coingecko的分析集中在具體數據上，而不是建立罪魁禍首。然而，它確實假設在特朗普總統任期內的市場波動是造成這種極端失敗率的原因。

Why Are So Many Tokens Dying Out?

為什麼這麼多的令牌死了？

The crypto industry is no stranger to failures. For example, a few years ago, NFTs were all the rage, but more than 95% of those assets are dead.

加密行業對失敗並不陌生。例如，幾年前，NFT都風靡一時，但其中95％以上的資產死亡。

CoinGecko’s latest report shows that 2025 has been an exceptional year in this respect. Compared to 2024, there have been fewer token launches and many more crypto project failures in Q1 alone.

Coingecko的最新報告表明，在這方面，2025年一直是非凡的一年。與2024年相比，僅第1季度就有更少的令牌發布和更多的加密項目失敗。

Data from CoinMarketCap shows that over 14.65 million different tokens are active right now, and the number has been rising steadily.

來自CoinMarketCap的數據表明，目前有1465萬個不同的代幣正在活躍，而且數量穩步上升。

One year ago, the site only tracked 2.7 million. The biggest contributor to this growth has been Solana meme coins, as that blockchain’s ecosystem now accounts for more than 60% of all tokens.

一年前，該網站僅追踪了270萬。促進這種增長的最大貢獻是Solana Meme硬幣，因為該區塊鏈的生態系統現在佔所有令牌的60％以上。

However, this rapid increase in crypto projects has also led to more dead tokens. The meme coin sector is especially volatile, and the industry has faced collapse on several prior occasions.

但是，加密項目的迅速增加也導致了更多的代幣。模因硬幣行業特別波動，該行業在以前的幾個場合都面臨崩潰。

Moreover, a glut of project launches can dilute meme coins’ overall market potential, sinking prominent projects due to quality fears and diminishing returns.

此外，由於優質的恐懼和回報率降低，項目發射的大量發射可以稀釋模因硬幣的整體市場潛力，從而減少了著名的項目。

CoinGecko also revealed another disturbing fact: by its reckoning, most crypto projects active since 2021 are now dead. It claims that 52.7% of all such tokens have failed and that the failure rate is increasing.

Coingecko還揭示了另一個令人不安的事實：從2021年以來，大多數活躍的加密項目現已死亡。它聲稱所有此類令牌中有52.7％失敗了，並且失敗率正在增加。

New launches still outweigh collapses, but the trend does not look sustainable.

新的發布仍然超過崩潰，但這種趨勢看起來並不可持續。

The report proposed a clear hypothesis for this behavior. CoinGecko believes it credible that Trump’s tariff threats and ensuing recession fears are responsible for these dead crypto projects. Meme coin launches rose dramatically after his election, and market turbulence is killing them off.

該報告對這種行為提出了一個明確的假設。 Coingecko認為，特朗普的關稅威脅和隨之而來的經濟衰退擔憂是造成這些死去的加密項目的原因是可信的。 Meme Coin當選後巨大的Rose發射，市場動盪殺死了它們。

To be clear, CoinGecko’s study did not attempt to prove a cause; it just analyzed the failures themselves. Complicated factors may be creating all these dead crypto projects.

需要明確的是，Coingecko的研​​究沒有試圖證明原因。它只是分析了失敗本身。複雜的因素可能是創建所有這些死去的加密項目。

Still, it identified the trends, and the hard data is convincing in its own right. The meme coin industry, as currently defined, may not last at this rate.

儘管如此，它還是確定了趨勢，而硬數據本身就令人信服。目前定義的模因硬幣行業可能不會以這種速度持續。