2024 Dead Coins Report: From 
Creation
to 
Catastrophe
Initially, the cryptocurrency field was a subject of interest for tech enthusiasts, but it has now grown into a large and ever-changing market, revolutionizing the financial landscape in the 2010s and beyond. Investors and crypto projects face intricate hurdles in this market. One of those is the volatility and unpredictability , making it challenging to survive in this industry.
To further understand these challenges, we conducted a comprehensive analysis of over 12,000 cryptocurrency projects, examining their lifespans and development trends.
Conducted by
Key Findings 
Nearly two-thirds of
crypto projects have died.
72% of crypto projects born in
the 2020-2021 (bull run) have died.
The Terra and Cardano ecosystems
are among the top 10 categories
with the most dead coins.
The average lifespan of a crypto
project is 3 years, which is shorter
than a typical market cycle.
What We Did
We examined over 12,000 crypto projects listed on CoinMarketCap and sorted them into different categories based on their tags.
We then determined whether they were "dead" by using these 4 criteria:
Low trading
volume
low liquidity
Inactive or
deleted
Twitter
accounts
Down
websites
Delisted
from
CoinMarket
Cap
To calculate the lifespan of these tokens, we investigated their domain registration and last Twitter post dates, leaving out cases where data was unavailable for our final assessment.
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In 2023, 65% of Crypto
Projects have Died
Leading up to 2023, there has been a notable decrease in the cryptocurrency market, which has led to the death of a total of 65% of projects
2023 is the toughest year in the 2020-2023 cycle, with nearly 60% of dead coins disappearing during that period
Among dead coins:
% of deadcoins
- Low liquidity/ Low trading volume 92.6%
- Website down 50.9%
- Delist from CoinMarketCap 47.6%
- Twitter account deleted 35.6%
- No updates on Twitter for 3 months 26.9%
A deeper dive into these 'dead coins' reveals: A significant majority, 93%, suffered from low liquidity or trading volume, indicating a steep decline in investor interest. Moreover, more than half (58%) of these unsuccessful coins had Twitter accounts or websites that were either inactive or deleted, indicating a lack of continuous social engagement or operational presence. Furthermore, almost half (48%) were removed from major tracking platforms such as CoinMarketCap, solidifying their failures.
This vulnerability in the crypto space is further exploited by scam projects that employ deceptive tactics. These scams often acquire old Twitter accounts, changing names and bios as part of their strategy to mislead followers. Recognizing the need to address these scams, our tool, AlphaQuest, offers features that extend to tracking all the changelogs of a crypto project's Twitter account.
By analyzing social media activity, investors can stay informed and cautious in the world of cryptocurrency.
72% of Crypto Projects Born in the
2020-2021 Bull Run have Died
The Significant Impact of Bankruptcies
The impact of major bankruptcies during the bear market in the crypto world is profound. After the Terra crash, 35% of crypto projects were deemed defunct. Furthermore, the downfall of FTX, a leading crypto exchange, resulted in the closure of 32% of crypto projects. These statistics highlight the susceptibility of crypto projects to market fluctuations and emphasize the importance of risk management in this volatile field.
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“Dead” Categories:
A Closer Look
Before we go, please keep in mind that we define “dead” categories as those in which more than 50% of projects have died.
Video & Music
Sectors such as Video & Music have experienced a 75% death rate, showcasing a pattern where crypto projects targeting specific niches struggle to maintain sustainability.
Asset-backed stablecoins
Moreover, 75% of Asset-backed stablecoins have also faced failure, indicating vulnerability in the bear market.
Metaverse
Additionally, Metaverse projects have also encountered a high rate of dead coins, with more than half (51%) becoming dead. This shows how vulnerable what was once a huge trend in the crypto world is.
Ecosystems in Crisis
This decline has an impact on even the most well-known ecosystems. Despite having strong community backing, Cardano has seen 74% of its ecosystem projects become defunct. The collapse of Terra has similarly affected 74% of its projects. Other ecosystems, including 
Celo, 
Harmony, 
Near, 
Zilliqa, and 
Moonriver, have also experienced notable losses.
The Failure of High-Profile Backings
Half of the projects backed by the bankrupt Three Arrows Capital have failed. Other top-tier VCs with over half of their projects in their portfolio having died include: Paradigm, DWF Labs, Polychain Capital, a16z, Animoca Brands, Binance Labs, and Multicoin Capital. This serves as evidence that even with prominent backing, success cannot be guaranteed in the ever-changing world of crypto.
The Lifespan Dilemma:
Lifespan of crypto projects.
The average lifespan of crypto projects is 3 years, which means an average project can barely survive through a market cycle of 4 years.
“Dead” projects have an even shorter lifespan, with an average of just 2.21 years. A more concerning truth is that a considerable number of crypto projects have a brief existence, with 21.77% lasting less than a year and 11.65% lasting less than six months. Only 22.40% of crypto projects successfully survive more than 4 years.
What Lies Ahead for
The Crypto Industry?
Despite the downfall of many coins, the cryptocurrency field still holds promise for the future. This is evident from the continual emergence of countless new crypto projects and narratives every month.
However, it has also left investors feeling overwhelmed. To address this problem, we developed AlphaQuest—a crypto research tool crafted to assist investors in discovering the most promising narratives and projects before they gain widespread attention.
The adaptability and resilience of the market indicate a long-term impact on our financial landscape. While failed projects serve as a reminder to be cautious when investing, the enduring relevance of cryptocurrencies cannot be underestimated.
Moving forward, the key lies in making wise investments and learning from past experiences. As the industry continues to evolve, it will be crucial to navigate challenges and embrace technological advancements. The undeniable significance of cryptocurrency in shaping the future of finance urges investors to approach it with a discerning eye, recognizing its potential for transformation while emphasizing the importance of risk management.
- List of Gambling Projects on Solana
- List of Metaverse Projects
- List of Meme Coins
- List of Projects on Ethereum
- List of Projects on Cardano
- List of Projects on Avalanche
- List of Meme Coins on TON
- List of AI Projects on Solana
- List of DePIN Projects
- List of DN404 Projects
- List of Meme Coins on Sui Network
- List of Meme Coins on Fantom
Methodology
First, we collected a seed list of projects by taking historical snapshots from CoinMarketCap. By doing this, we had a total of over 12,000 records.
Secondly, we categorized them into multiple categories based on their tags. Finally, we decided whether they were considered dead coins under the conditions below. If the project falls into at least one of these criteria, it is considered "dead.”.
-
24H VOLUME
< $1,000
-
LIQUIDITY
< $50,000
-
TWITTER ACCOUNT
No updates within
3 months or deleted -
DOWN WEBSITES
-
DELISTED FROM COINMARKETCAP
In terms of dead categories, the number of dead tokens within the category that are considered dead is above 50%. We also calculated the lifespan of the projects by taking into consideration the domain registration date and the last Twitter post date.
Missing data was excluded from the final conclusion.
Dead Categories Full Data
| Category | % dead coins | |
|---|---|---|
| 1 | Video | 75.19% |
| 2 | Asset-Backed Stablecoin | 75.09% |
| 3 | Music | 74.93% |
| 4 | Olympus Pro Ecosystem | 74.13% |
| 5 | Cardano Ecosystem | 74.07% |
| 6 | Sports | 74.04% |
| 7 | Paradigm Portfolio | 74.00% |
| 8 | DWF Labs Portfolio | 73.97% |
| 9 | Sharding | 73.86% |
| 10 | Filesharing | 73.81% |
| 11 | Terra Ecosystem | 73.61% |
| 12 | PolkaFoundry Red Kite | 73.22% |
| 13 | Yearn Partnerships | 73.02% |
| 14 | Manufacturing | 72.60% |
| 15 | Options | 72.46% |
| 16 | Blockchain Capital Portfolio | 72.46% |
| 17 | Agriculture | 72.45% |
| 18 | DeFi Index | 72.12% |
| 19 | Health | 71.93% |
| 20 | Adult | 71.43% |
| 21 | Discount Token | 71.15% |
| 22 | Storage | 71.06% |
| 23 | Communications & Social Media | 71.04% |
| 24 | Exnetwork Capital Portfolio | 70.94% |
| 25 | Rebase | 70.80% |
| 26 | USD Stablecoin | 70.64% |
| 27 | Generative AI | 70.13% |
| 28 | BlueZilla | 70.00% |
| 29 | IoT | 69.97% |
| 30 | VBC Ventures Portfolio | 69.96% |
| 31 | Soccer | 69.96% |
| 32 | Social Token | 69.95% |
| 33 | SEC Security Token | 69.62% |
| 34 | Huobi Capital Portfolio | 69.44% |
| 35 | Seigniorage | 69.32% |
| 36 | Synthetics | 69.23% |
| 37 | Polychain Capital Portfolio | 69.23% |
| 38 | SHA-256 | 68.90% |
| 39 | Commodities | 68.85% |
| 40 | Ferrum Network | 68.85% |
| 41 | Sidechain | 68.42% |
| 42 | Escrow | 68.24% |
| 43 | Insurance | 68.18% |
| 44 | Software | 67.95% |
| 45 | DuckSTARTER | 67.83% |
| 46 | Cardano | 67.80% |
| 47 | Identity | 67.09% |
| 48 | DeFiance Capital Portfolio | 67.09% |
| 49 | Distributed Computing | 66.91% |
| 50 | Scaling | 65.93% |
| 51 | Scrypt | 65.91% |
| 52 | Oxbull | 65.87% |
| 53 | Oracles | 65.10% |
| 54 | Zero Knowledge Proofs | 65.09% |
| 55 | Quantum-Resistant | 64.71% |
| 56 | BoostVC Portfolio | 64.41% |
| 57 | PetRock Capital Portfolio | 64.29% |
| 58 | a16z Portfolio | 64.29% |
| 59 | Loyalty | 64.15% |
| 60 | Animoca Brands Portfolio | 64.14% |
| 61 | Yield Aggregator | 63.84% |
| 62 | DragonFly Capital Portfolio | 63.64% |
| 63 | Transport | 63.64% |
| 64 | Search Engine | 63.46% |
| 65 | Near Protocol Ecosystem | 62.96% |
| 66 | Framework Ventures Portfolio | 62.30% |
| 67 | X11 | 62.13% |
| 68 | Real Estate | 62.06% |
| 69 | Fan Token | 62.05% |
| 70 | Fiat | 62.00% |
| 71 | Others | 61.95% |
| 72 | Cybersecurity | 61.92% |
| 73 | Move To Earn | 61.90% |
| 74 | Pantera Capital Portfolio | 61.86% |
| 75 | Prediction Markets | 61.79% |
| 76 | Multicoin Capital Portfolio | 61.54% |
| 77 | ParaFi Capital | 61.54% |
| 78 | Celo Ecosystem | 61.39% |
| 79 | Gaming Guild | 61.06% |
| 80 | Food & Beverage | 60.76% |
| 81 | Cross-Chain DEX Aggregator | 60.64% |
| 82 | Logistics | 60.58% |
| 83 | Alleged SEC Securities | 60.18% |
| 84 | DPoS | 60.07% |
| 85 | Marketing | 60.05% |
| 86 | AMM | 60.04% |
| 87 | Gambling | 60.00% |
| 88 | MVB | 59.84% |
| 89 | Hospitality | 59.83% |
| 90 | Sharing Economy | 59.82% |
| 91 | LP Tokens | 59.80% |
| 92 | Philanthropy | 59.70% |
| 93 | Tourism | 59.60% |
| 94 | Data Provenance | 59.14% |
| 95 | Art | 58.95% |
| 96 | NFTb Launchpad | 58.62% |
| 97 | Opensource | 58.33% |
| 98 | Arrington XRP Capital Portfolio | 58.11% |
| 99 | Fabric Ventures Portfolio | 58.00% |
| 100 | CMS Holdings Portfolio | 57.89% |
| 101 | Platform | 57.76% |
| 102 | Liquid Staking Derivatives | 57.14% |
| 103 | Energy | 57.06% |
| 104 | Events | 56.77% |
| 105 | Protocol-Owned Liquidity | 56.67% |
| 106 | Spartan Group | 56.21% |
| 107 | Lending & Borrowing | 56.15% |
| 108 | Fashion | 56.05% |
| 109 | Education | 56.03% |
| 110 | Harmony Ecosystem | 56.00% |
| 111 | Cosmos | 55.95% |
| 112 | Luxury | 55.74% |
| 113 | Coinfund Portfolio | 55.70% |
| 114 | LaunchZone | 55.26% |
| 115 | Rollups | 55.00% |
| 116 | Mobile | 54.87% |
| 117 | Mobile Payment | 54.85% |
| 118 | DCG Portfolio | 54.84% |
| 119 | Binance Labs Portfolio | 54.72% |
| 120 | FTX Bankruptcy Estate | 54.67% |
| 121 | Hardware | 54.55% |
| 122 | PoA | 54.31% |
| 123 | Research | 54.25% |
| 124 | Kenetic Capital Portfolio | 54.01% |
| 125 | Hashkey Capital Portfolio | 53.85% |
| 126 | Jobs | 53.33% |
| 127 | State Channel | 53.33% |
| 128 | BullPerks Launchpad | 53.28% |
| 129 | Bounce Launchpad | 53.23% |
| 130 | X13 | 52.83% |
| 131 | Analytics | 52.78% |
| 132 | Multiple algorithms | 52.73% |
| 133 | Substrate | 52.19% |
| 134 | Retail | 52.10% |
| 135 | OKEx Blockdream Ventures Portfolio | 52.05% |
| 136 | Poolz Finance Portfolio | 52.00% |
| 137 | Wrapped Tokens | 51.92% |
| 138 | Metaverse | 51.77% |
| 139 | Hedera Hashgraph Ecosystem | 51.52% |
| 140 | Zilliqa Ecosystem | 51.39% |
| 141 | Moonriver Ecosystem | 51.18% |
| 142 | Tokenized Stock | 50.91% |
| 143 | Icetea Labs | 50.89% |
| 144 | SkyVision Capital Portfolio | 50.88% |
| 145 | OKExChain Ecosystem | 50.59% |
| 146 | Three Arrows Capital Portfolio | 50.43% |
| 147 | Kommunitas Launchpad | 50.00% |
| 148 | Placeholder Ventures Portfolio | 50.00% |
| Category | % dead coins | |
|---|---|---|
| 51 | Scrypt | 65.91% |
| 52 | Oxbull | 65.87% |
| 53 | Oracles | 65.10% |
| 54 | Zero Knowledge Proofs | 65.09% |
| 55 | Quantum-Resistant | 64.71% |
| 56 | BoostVC Portfolio | 64.41% |
| 57 | PetRock Capital Portfolio | 64.29% |
| 58 | a16z Portfolio | 64.29% |
| 59 | Loyalty | 64.15% |
| 60 | Animoca Brands Portfolio | 64.14% |
| 61 | Yield Aggregator | 63.84% |
| 62 | DragonFly Capital Portfolio | 63.64% |
| 63 | Transport | 63.64% |
| 64 | Search Engine | 63.46% |
| 65 | Near Protocol Ecosystem | 62.96% |
| 66 | Framework Ventures Portfolio | 62.30% |
| 67 | X11 | 62.13% |
| 68 | Real Estate | 62.06% |
| 69 | Fan Token | 62.05% |
| 70 | Fiat | 62.00% |
| 71 | Others | 61.95% |
| 72 | Cybersecurity | 61.92% |
| 73 | Move To Earn | 61.90% |
| 74 | Pantera Capital Portfolio | 61.86% |
| 75 | Prediction Markets | 61.79% |
| 76 | Multicoin Capital Portfolio | 61.54% |
| 77 | ParaFi Capital | 61.54% |
| 78 | Celo Ecosystem | 61.39% |
| 79 | Gaming Guild | 61.06% |
| 80 | Food & Beverage | 60.76% |
| 81 | Cross-Chain DEX Aggregator | 60.64% |
| 82 | Logistics | 60.58% |
| 83 | Alleged SEC Securities | 60.18% |
| 84 | DPoS | 60.07% |
| 85 | Marketing | 60.05% |
| 86 | AMM | 60.04% |
| 87 | Gambling | 60.00% |
| 88 | MVB | 59.84% |
| 89 | Hospitality | 59.83% |
| 90 | Sharing Economy | 59.82% |
| 91 | LP Tokens | 59.80% |
| 92 | Philanthropy | 59.70% |
| 93 | Tourism | 59.60% |
| 94 | Data Provenance | 59.14% |
| 95 | Art | 58.95% |
| 96 | NFTb Launchpad | 58.62% |
| 97 | Opensource | 58.33% |
| 98 | Arrington XRP Capital Portfolio | 58.11% |
| 99 | Fabric Ventures Portfolio | 58.00% |
| 100 | CMS Holdings Portfolio | 57.89% |
| Category | % dead coins | |
|---|---|---|
| 75 | Prediction Markets | 61.79% |
| 76 | Multicoin Capital Portfolio | 61.54% |
| 77 | ParaFi Capital | 61.54% |
| 78 | Celo Ecosystem | 61.39% |
| 79 | Gaming Guild | 61.06% |
| 80 | Food & Beverage | 60.76% |
| 81 | Cross-Chain DEX Aggregator | 60.64% |
| 82 | Logistics | 60.58% |
| 83 | Alleged SEC Securities | 60.18% |
| 84 | DPoS | 60.07% |
| 85 | Marketing | 60.05% |
| 86 | AMM | 60.04% |
| 87 | Gambling | 60.00% |
| 88 | MVB | 59.84% |
| 89 | Hospitality | 59.83% |
| 90 | Sharing Economy | 59.82% |
| 91 | LP Tokens | 59.80% |
| 92 | Philanthropy | 59.70% |
| 93 | Tourism | 59.60% |
| 94 | Data Provenance | 59.14% |
| 95 | Art | 58.95% |
| 96 | NFTb Launchpad | 58.62% |
| 97 | Opensource | 58.33% |
| 98 | Arrington XRP Capital Portfolio | 58.11% |
| 99 | Fabric Ventures Portfolio | 58.00% |
| 100 | CMS Holdings Portfolio | 57.89% |
| 101 | Platform | 57.76% |
| 102 | Liquid Staking Derivatives | 57.14% |
| 103 | Energy | 57.06% |
| 104 | Events | 56.77% |
| 105 | Protocol-Owned Liquidity | 56.67% |
| 106 | Spartan Group | 56.21% |
| 107 | Lending & Borrowing | 56.15% |
| 108 | Fashion | 56.05% |
| 109 | Education | 56.03% |
| 110 | Harmony Ecosystem | 56.00% |
| 111 | Cosmos | 55.95% |
| 112 | Luxury | 55.74% |
| 113 | Coinfund Portfolio | 55.70% |
| 114 | LaunchZone | 55.26% |
| 115 | Rollups | 55.00% |
| 116 | Mobile | 54.87% |
| 117 | Mobile Payment | 54.85% |
| 118 | DCG Portfolio | 54.84% |
| 119 | Binance Labs Portfolio | 54.72% |
| 120 | FTX Bankruptcy Estate | 54.67% |
| 121 | Hardware | 54.55% |
| 122 | PoA | 54.31% |
| 123 | Research | 54.25% |
| 124 | Kenetic Capital Portfolio | 54.01% |
| 125 | Hashkey Capital Portfolio | 53.85% |
| 126 | Jobs | 53.33% |
| 127 | State Channel | 53.33% |
| 128 | BullPerks Launchpad | 53.28% |
| 129 | Bounce Launchpad | 53.23% |
| 130 | X13 | 52.83% |
| 131 | Analytics | 52.78% |
| 132 | Multiple algorithms | 52.73% |
| 133 | Substrate | 52.19% |
| 134 | Retail | 52.10% |
| 135 | OKEx Blockdream Ventures Portfolio | 52.05% |
| 136 | Poolz Finance Portfolio | 52.00% |
| 137 | Wrapped Tokens | 51.92% |
| 138 | Metaverse | 51.77% |
| 139 | Hedera Hashgraph Ecosystem | 51.52% |
| 140 | Zilliqa Ecosystem | 51.39% |
| 141 | Moonriver Ecosystem | 51.18% |
| 142 | Tokenized Stock | 50.91% |
| 143 | Icetea Labs | 50.89% |
| 144 | SkyVision Capital Portfolio | 50.88% |
| 145 | OKExChain Ecosystem | 50.59% |
| 146 | Three Arrows Capital Portfolio | 50.43% |
| 147 | Kommunitas Launchpad | 50.00% |
| 148 | Placeholder Ventures Portfolio | 50.00% |