2025年是死亡加密项目最糟糕的一年

Coingecko的一份新报告称，2025年是死去的加密项目最糟糕的一年，仅第1季度就崩溃了180万个令牌。

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的一份新报告声称，死者加密项目的2025年却差不多一年，仅第1季度就会崩溃180万个令牌。这占2021年至2025年所有加密项目失败的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的分析集中在具体数据上，而不是建立罪魁祸首。然而，它确实假设在特朗普总统任期内的市场波动是造成这种极端失败率的原因。

Why Are So Many Tokens Dying Out?

为什么这么多的令牌死了？

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.

加密行业对失败并不陌生。例如，几年前，NFT都风靡一时，但其中95％以上的资产死亡。

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的最新报告表明，在这方面，2025年一直是非凡的一年。与2024年相比，仅第1季度就有更少的令牌发布和更多的加密项目失败。

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

来自CoinMarketCap的数据表明，目前有1465万个不同的代币正在活跃，而且数量稳步上升。

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，该网站仅追踪了270万。促进这种增长的最大贡献是Solana Meme硬币，因为该区块链的生态系统现在占所有令牌的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，加密项目的迅速增加也导致了更多的代币。模因硬币行业特别波动，该行业在以前的几个场合都面临崩溃。

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，由于优质的恐惧和回报率降低，项目发射的大量发射可以稀释模因硬币的整体市场潜力，从而减少了著名的项目。

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还揭示了另一个令人不安的事实：从2021年以来，大多数活跃的加密项目现已死亡。它声称所有此类令牌中有52.7％失败了，并且失败率正在增加。

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

新的发布仍然超过崩溃，但这种趋势看起来并不可持续。

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.

该报告对这种行为提出了一个明确的假设。 Coingecko认为，特朗普的关税威胁和随之而来的经济衰退担忧是造成这些死去的加密项目的原因是可信的。 Meme Coin当选后巨大的Rose发射，市场动荡杀死了它们。

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.

需要明确的是，Coingecko的研​​究没有试图证明原因。它只是分析了失败本身。复杂的因素可能是创建所有这些死去的加密项目。

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.

尽管如此，它还是确定了趋势，而硬数据本身就令人信服。目前定义的模因硬币行业可能不会以这种速度持续。