Because of the short lifespan, the older a token/coin is, the more likely it is to fail. Thus, older coins/tokens are much more likely to die. It also speaks to the short term memory and hype/FOMO attitude of traders who chase the new shiny token on the block. 75% of tokens from 2014 are defunct.
This of course shows how fickle traders are and the facts that so many tokens produced are just garbage or badly-thought out. It also proves that the vast majority of those who chase the next 100x altcoins will only be left holding bags.
KingNY-Life : It's all a scam. Every project token issuance is a game of money fraud. People have already seen it through, so it's hard for new projects to survive in the future. They don't have a market anymore. If you still believe that digital currencies are in the top 20 by market capitalization, don't buy anything else because they will eventually disappear.