In 2025, a staggering 11.6 million cryptocurrency tokens went to zero, according to a report by Coingecko. This represents 86.3% of all tokens that failed between 2021 and 2025, with 7.7 million of these failures occurring in the fourth quarter alone. The surge in token failures is attributed to the proliferation of low-cost 'meme coins' and projects, facilitated by the ease of launching tokens on issuance platforms. Despite the high failure rate, the total number of cryptocurrency projects has skyrocketed, increasing from 428,000 in 2021 to nearly 20.2 million by 2025. This dramatic growth highlights the ongoing expansion and volatility within the crypto market, as new projects continue to flood the space.