CoinGecko research shows that 71.9% of tokens that ever cracked the top 100 by market cap are now operationally dead. The median lifespan is two years and four months. The findings paint a stark picture of churn in the crypto market.
The numbers behind the graveyard
Of the tokens that once sat in the top 100, 62% die within five years, 84.7% within ten years, and 91.5% within twelve years. The median lifespan? Just 28 months. Looking at the July 2021 top 100, only 41 projects retained their spot, 46 fell out, and 13 ceased operations entirely. Tokens that fell out lost a median 93% of their market value. Roughly 65% of those fallen tokens were Layer-1 and Layer-2 chains once billed as Ethereum challengers.
Stablecoins buck the trend
While most tokens fade, stablecoins have doubled their presence in the top 100 — from 8 to 16 between July 2021 and the time of the report. That shift suggests capital is consolidating into assets designed for stability rather than speculative upside.
Broader market: 53% of all tokens have stopped trading
CoinGecko's GeckoTerminal data goes further: 53.2% of all cryptocurrencies tracked on the platform have stopped trading. In 2025 alone, 11.6 million tokens failed. That's a staggering number, even for an industry used to high failure rates.
The report doesn't name specific tokens, but the data raises questions about the sustainability of new projects. With millions of tokens launching each year, the failure rate shows no sign of slowing.
