加密世界正在遇到前所未有的危机，其中一半以上的数字代币停止了所有活动。

根据Geckoterminal的数据，在自2021年以来列出的近700万个加密货币中，约有370万

The crypto world is going through an unprecedented crisis with more than half of the digital tokens having ceased all activity. According to data from GeckoTerminal, out of nearly 7 million cryptocurrencies listed since 2021, about 3.7 million have gone bankrupt, representing an alarming failure rate of 52.7%.

加密世界正在遇到前所未有的危机，其中一半以上的数字代币停止了所有活动。根据Geckoterminal的数据，在自2021年以来列出的近700万个加密货币中，约有370万次破产，这一令人震惊的失败率为52.7％。

3.7 million projects disappeared in four years

370万个项目在四年内消失了

How many cryptos have truly died over recent years? According to data from GeckoTerminal, of nearly 7 million cryptocurrencies listed since 2021, about 3.7 million have ceased trading and are considered bankrupt, representing a failure rate of 52.7%.

近年来，有多少个加密货币真正死亡？根据Geckoterminal的数据，自2021年以来列出了近700万个加密货币，约有370万次停止了交易，被认为破产了，其失败率为52.7％。

This trend dramatically accelerated between 2024 and early 2025, with a particular focus on the first quarter of 2025. This critical period coincided with Donald Trump's inauguration in January, followed by a notable slowdown in the cryptocurrency market.

这种趋势在2024年至2025年初之间急剧加速，特别关注2025年第一季度。这个关键时期与唐纳德·特朗普（Donald Trump）在一月份的就职典礼相吻合，随后是加密货币市场的显着放缓。

The explosion in the number of projects reflects a radical change in the ecosystem. In 2021, only 428,383 projects were listed on GeckoTerminal. In 2025, this number reached nearly 7 million, a sixteenfold increase in four years.

项目数量的爆炸反映了生态系统的根本变化。在2021年，壁虎上只有428,383个项目。在2025年，这个数字达到了近700万，四年来增加了16倍。

This exponential growth is largely explained by the arrival of platforms like Pump.fun, which democratized token creation.

这种指数增长在很大程度上是通过像pump.fun这样的平台的到来来解释的，pump.fun将令牌创造民主化。

These tools have allowed anyone to launch their own crypto without deep technical knowledge, flooding the market with memecoins and projects with low fundamental value.

这些工具使任何人都可以在没有深厚的技术知识的情况下推出自己的加密货币，并以低基本价值的成员和项目淹没了市场。

2025, a dark year for cryptos

2025年，是加密货币的黑暗年份

The first quarter of 2025 set a disastrous record with 1.8 million crypto projects ceasing all activity. This figure represents nearly half (49.7%) of all failures recorded between 2021 and 2025.

2025年的第一季度创造了灾难性的记录，其中180万个加密项目停止了所有活动。该数字代表了2021年至2025年之间记录的所有故障的一半（49.7％）。

The year 2024 had already shown worrying signs with 1.4 million failed projects (37.7% of total failures). Paradoxically, that same year saw the birth of over 3 million new cryptos, illustrating the extreme volatility of the sector.

2024年已经显示出令人担忧的迹象，其中有140万个项目（占总失败的37.7％）。矛盾的是，同一年看到了超过300万个新加密货币的诞生，说明了该行业的极端波动。

The situation was quite different previously. Between 2021 and 2023, failures remained limited to less than 250,000 projects per year.

以前情况大不相同。在2021年至2023年之间，失败仍然限制为每年不到250,000个项目。

This recent explosion is largely explained by the emergence of platforms that drastically simplified token creation. Pump.fun is the perfect example: this platform caused a wave of memecoins and projects without real fundamental value.

这场爆炸的爆炸量很大程度上是通过极大地简化代币创建的平台的出现来解释的。 Pump.Fun是一个完美的例子：该平台引起了一波模因和项目，而没有真正的基本价值。

Even at its peak in November 2024, the token survival rate on Pump.fun was only 1.67%. This rate has since fallen below 1% for four consecutive weeks, reflecting investors' growing disinterest in these speculative assets.

即使在2024年11月的高峰期，泵的代币存活率也只有1.67％。此后，这种速度连续四个星期下降到1％以下，这反映了投资者对这些投机资产的不感兴趣。

This massive crypto wipeout highlights the importance of thorough analysis before any investment in this volatile sector. While thousands of projects disappear every month, investors seem to be gradually favoring established digital assets over ephemeral high-risk tokens.

这种大规模的加密释放突出了对该挥发性部门进行任何投资之前进行彻底分析的重要性。尽管每个月都有成千上万的项目消失，但投资者似乎逐渐偏爱已建立的数字资产而不是短暂的高风险令牌。

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Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

对比特币充满热情，我喜欢探索区块链和加密货币的曲折，并与社区分享我的发现。我的梦想是生活在一个保证每个人的隐私和财务自由的世界中，我坚信比特币是可以实现这一目标的工具。