The cryptocurrency market experienced a record number of token failures in the first quarter of 2025, with 1.8 million crypto tokens failing during this period. This figure represents nearly 25% of all tokens launched since 2021 and marks the highest number of failures recorded in a single year. According to CoinGecko, 52.7% of all cryptocurrencies launched since 2021 have failed, with 2025 accounting for almost half of all token failures ever recorded. The surge in failures has been linked to market volatility and platforms such as Pump Fun, which reportedly has a 98% failure rate. The number of failed crypto tokens has increased dramatically over recent years, with 2,584 failures in 2021, 213,075 in 2022, 245,049 in 2023, and 1,382,010 in 2024. Additionally, the Pump Fun platform saw 25,670 tokens launched recently, generating $1.72 million in pump revenue. Among the top new tokens by market capitalization are $GENZ and $DRA, with $GENZ showing notable community growth and increasing investor interest. However, concerns have been raised about the quality of some token contracts, with one described by a lawyer as "the worst he’d ever seen."