--- title: 'Crypto Graveyard: Thousands of Coins Listed in Recent Years Have Already Failed' description: CoinGecko sees thousands of new cryptocurrency listings each year. But many of these coins and tokens end up failing. authors: - name: Brenden Rearick role: Reporter url: https://money.com/author/brenden-rearick/ bio: Brenden Rearick is a former news reporter at Money with nearly four years of experience covering investing and other personal finance topics. education: University of Pittsburgh, BA at_money_since: 2023 articles: 133 covers: - Investing - Banking - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Housing - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology former_staff: true editors: - name: Mallika Mitra role: Contributing Editor url: https://money.com/author/mallika-mitra/ bio: Mallika Mitra is a contributing editor for Money, based in Chicago. She has covered investing and retirement for seven years and her work has appeared in CNBC, Bloomberg, Kiplinger, AARP, Barron’s, Bankrate, The Daily Upside, ETF.com, The Bond Buyer, PLANADVISER, PLANSPONSOR and Investopedia. education: Craig Newmark Graduate School of Journalism at CUNY Kalamazoo College at_money_since: 2020 articles: 395 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - CNBC - Bloomberg - Kiplinger - Barron's - Bankrate - WGN-TV - CBS News Radio - This Morning With Gordon Deal - Everyone's Talkin' Money social: - https://twitter.com/mitra_mallika - https://www.linkedin.com/in/mallika-mitra-4577a386/ published: '2023-03-31T15:47:23.000Z' modified: '2024-01-10T14:40:51.000Z' section: Investing tags: - Cryptocurrency - News word_count: 566 canonical: https://money.com/thousand-of-new-cryptos-fail-coingecko/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Collage of men worried and coins in the background](https://img.money.com/2023/03/News-Crypto-Dead.jpg) The heyday is over for crypto makers. At least, that’s what it seems as crypto coins and tokens continue dropping like flies. Data gathered by crypto aggregator CoinGecko shows nearly 1,900 crypto projects listed on the site in 2022 have already failed. Data aggregator [CoinGecko](https://www.coingecko.com/) is commonly used to track cryptocurrencies. It defines a [“dead coin”](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed) as one that has seen no trading activity within the last two months, has been outed as a scam or has requested removal from the CoinGecko database. As of mid-March, CoinGecko reports that 1,866 of the 6,300 cryptos it listed in 2022 are already classified as dead. This graveyard of cryptos adds to an astonishing 4,367 crypto projects that were listed in 2021 and have since died. Despite the huge number of cryptos that have disappeared, 2021 was a boom time for the market. Speculative investments like [meme stocks](https://money.com/how-to-find-the-next-meme-stock/) took off in early 2021, thanks partly to a massive increase in government spending and lax interest rates. [Cryptocurrency](https://money.com/what-is-cryptocurrency/) was one of the biggest beneficiaries of this trend. During that year the market capitalization of the industry rose from $965 billion to as much as $2.6 trillion, according to a Morningstar [analysis](https://money.com/crypto-market-doubled-value-whats-next/) of data from CoinGecko. Driving much of this growth was the money flowing into coins like [Dogecoin](https://money.com/what-is-dogecoin/) and other trendy, questionable crypto investments like the [Omicron token](https://money.com/omicron-crypto-price-rise-covid-variant/) — as well as the largest cryptos, like [bitcoin](https://money.com/what-is-bitcoin/) and [ether](https://money.com/what-is-ethereum/). Unlike other speculative investments, meme cryptos were essentially created as a joke and for the most part didn't try to serve any purpose other than to ebb and flow in price. They are driven often wholly by internet hype, and their breakneck upward momentum nudged some investors to pile in simply out of fear of missing out on an “easy” gain. The success of the industry led others to try and imitate the success of these assets by creating tokens of their own. Some of these assets have succeeded. Others… not so much. With 1,866 dead cryptos out of 6,300, around 30% of all cryptos listed by CoinGecko last year have perished. ## What does this mean for investors? There’s a credibility concern in cryptocurrency, owing in part to both a high [volume of scams](https://money.com/crypto-scams-social-media-instagram/), the [collapse](https://money.com/how-ftx-crypto-exchange-problems-impact-investors/) of several major crypto firms and the influence meme cryptos hold over investors. As CoinGecko's report shows, many coins continue to live and die in very short cycles. The failure of so many projects in the last year is more evidence that the market can't always be carried by hype. If you're interested in investing in crypto, keep in mind that speculative assets like meme coins and tokens launched aren't trading on fundamentals. The rollercoaster-like price movements of cryptos are hard to predict and — as the report shows — there is no guarantee they'll survive. Experts [have said](https://money.com/buy-bitcoin-venmo/) investing in the better known tokens when you're starting out, like bitcoin and ether, may be the way to go. And it's important to remember that as exciting as crypto's price ups and downs can be, crypto in general is a risky asset class. [Financial advisors](https://money.com/how-to-choose-a-financial-advisor/) tend to recommend not putting any money in crypto that you're not willing to lose. [Analysts Predict These Cryptos Will Outperform the Rest of the Field in 2023](https://money.com/cryptos-analysts-say-will-outperform/) [Crypto Hackers Stole Record-High $3.8 Billion Last Year: Report](https://money.com/crypto-scams-hackers-stole-billions-2022/) [8 Best Crypto Wallets of March 2023](https://money.com/best-crypto-wallets/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/thousand-of-new-cryptos-fail-coingecko/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Cryptocurrency", "item": "https://money.com/cryptocurrency/" }, { "@type": "ListItem", "position": 4, "name": "Crypto Graveyard: Thousands of Coins Listed in Recent Years Have Already Failed" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/thousand-of-new-cryptos-fail-coingecko/#webpage", "url": "https://money.com/thousand-of-new-cryptos-fail-coingecko/", "name": "Crypto Graveyard: Thousands of Coins Listed in Recent Years Have Already Failed", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-03-31T15:47:23.000Z", "mainEntity": { "@id": "https://money.com/thousand-of-new-cryptos-fail-coingecko/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/thousand-of-new-cryptos-fail-coingecko/#breadcrumb" }, "dateModified": "2024-01-10T14:40:51.000Z" }, { "@type": "NewsArticle", "headline": "Crypto Graveyard: Thousands of Coins Listed in Recent Years Have Already Failed", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/03/News-Crypto-Dead.jpg", "width": 2880, "height": 1920, "caption": "News-Crypto-Dead" } ], "author": [ { "@type": "Person", "name": "Brenden Rearick", "url": "https://money.com/author/brenden-rearick/", "@id": "https://money.com/author/brenden-rearick/#author", "description": "Brenden Rearick is a former news reporter at Money with nearly four years of experience covering investing and other personal finance topics.\r\n\r\n", "email": "brenden.rearick@money.com", "alumniOf": "University of Pittsburgh, BA" } ], "publisher": "https://money.com/#organization", "datePublished": "2023-03-31T15:47:23.000Z", "description": "CoinGecko sees thousands of new cryptocurrency listings each year. 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