More Than Half of Crypto Projects Are Dead
A recent CoinGecko study reveals a startling fact: over 50% of cryptocurrency projects (14,039), listed on the platform since 2014, have faced failure. The vast majority of these setbacks (more than 70%) occurred between 2020 and 2022, largely attributed to the ease of deploying tokens and the craze around meme coins.
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A recent CoinGecko study reveals a startling fact: over 50% of cryptocurrency projects (14,039), listed on the platform since 2014, have faced failure. The vast majority of these setbacks (more than 70%) occurred between 2020 and 2022, largely attributed to the ease of deploying tokens and the craze around meme coins.
“Many memecoin projects launch without a product, with the majority being abandoned after a short period of time,” the study notes.
Interestingly, 2021 marked the bleakest period for cryptocurrency launches, witnessing the closure of over 70% of projects (5,724). The trend continued in 2022, with 3,520 projects meeting a similar fate. However, the situation noticeably improved in the following year, with only 289 new projects (less than 10%) having died.
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