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CoinGecko’s latest report examines the struggles of projects in this dynamic ecosystem and the effects of the often chaotic market conditions. According to this comprehensive report, more than half of the over 24,000 crypto projects launched since 2014 are currently inactive.
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The 2020-2021 bull run and the fate of projects
According to CoinGecko data, many projects that entered the cryptocurrency world following the 2020-2021 bull run, one of the most notable periods in recent years, failed to survive. During this period, a total of 7,530 projects withdrew from the market. A similar fate befell 1,450 projects from the previous 2017-2018 bull run.
The rise of token creation and the meme coin trend
According to the CoinGecko report, behind the failure of a large portion of the projects in the 2020-2021 period, there are factors such as the token becoming more accessible and the exploding popularity of meme coins. This made it easier for projects to be launched, but it also increased competition and affected quality standards in the industry.
2022 and 2023: The current state of projects (CoinGecko report)
The number of projects that are currently active within the 3,520 projects launched in 2022 is quite limited. However, 289 of the projects launched in 2023 are currently inactive. Staying afloat and succeeding in the sector requires a focus on sustainable business models in addition to technological innovations.
Lessons and insights for the future
This intense competitive environment in the crypto world requires investors and projects to make careful choices, keep a close eye on developments in technology and finance, and constantly update their marketing strategies. However, it is emphasized that success is possible not only with these elements but also with a strong community and a sustainable business plan.
The future of the crypto world
CoinGecko’s report shows the increasingly complex nature of the cryptocurrency world. This industry is a playing field for projects that can adapt to the constantly changing dynamics and move with a strong vision. In order to be successful in the future, projects need to focus not only on technology, but also on financial sustainability, user-friendly experiences, and a strong community.
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