The number of failed cryptocurrencies surged to 11,564,909 in 2025, a dramatic increase from just 2,584 in 2021, according to CoinGecko data. This represents a staggering growth in failures over the past few years. In the fourth quarter of 2025 alone, 7.7 million tokens collapsed, accounting for 34.9% of all recorded project failures. The sharp decline in token viability is largely attributed to systemic instability following the 1011 mass liquidation event.