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More than 3.7 million codes of encrypted currencies have failed since 2021, with nearly half of those collapses that occur during a pump.
Millions of symbols have failed since 2021, with nearly half of those collapses recorded in 2024 and early 2025, according to L. New search By Geckoterminal.
According to the research, a total of 1.8 million symbols failed in the first quarter of this year alone, with 49.7 % of all cases of symbolic failure recorded between 2021 and 2025. In 2024, about 1.4 million projects were also made, with 37.7 % of failure. Together, the two years have seen most of the symbolic closure of the Crypto Market.
“This sharp decrease in symbolic survival may be linked to the wider market turmoil, especially after Donald Trump’s inauguration in January 2025, which coincided with a contraction in the encryption market.”
Geckoterminal
The number of new encryption projects has also increased. For example, more than 428,000 symbols were listed on encryption platforms in 2021. By 2025, this number jumped to nearly seven million. The researchers say much of this growth “can be attributed to the release of a pump.
Before the launch of Pump.fun in 2024, the number of project failures was much lower. From 2021 to 2023, failure remained in the six low numbers. Completely, those three years represent only 12.6 % of total symbolic deaths, as data appears.
Geckoterminal explained that he introduces the “dead symbols” as those that are no longer actively circulated, noting that only the symbols have “one or more trade” were considered before completion.