Tokens
A new analysis reveals that over half of all cryptocurrency tokens have failed, with most erasures occurring in 2025. Between mid-2021 and 2025, more than 13.4 million tokens were wiped out, according to data from CoinGecko.
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The cryptocurrency industry faces a critical gap in secondary markets for locked and vested tokens, leading to opaque trading and distorted prices, according to industry expert Kanny Lee. In an opinion piece, Lee calls for a Nasdaq Private Markets-style infrastructure tailored for programmable assets to ensure fairer liquidity and support real-world asset adoption. This absence undermines the sustainability of token economies and hinders broader institutional participation.
November 23, 2025 22:37