More than 20 crypto projects closed in the first quarter of 2026, indicating a new stability as the market continues to grow.
The shutdown spans wallets, exchanges, NFT platforms, and DeFi tools, signaling a major shake-up in the industry.
Several top names appear. Magic Eden he closed his bag and slowed down a few chains to focus on Solana again.
Meanwhile, Leap Wallet confirmed a full shutdown at the end of May, marking a full exit rather than a pivot.
Bit.com-based exchange has also disrupted operations, alongside DeFi aggregator Slingshot and Web3 messaging platform Dmail.
Earlier in the quarter, NFT market Nifty Gateway and analysis tool Parsec also stopped working.
This closure reflects the plan: most of the projects affected were launched in the 2021-2022 period and at the beginning of 2025 cattle, when the economy was high and the growth of users came easily.
However, a the current environment is unforgiving. Trading volumes have decreased, revenues have increased, and user activity has converged on very few platforms.
As a result, products without a sound revenue stream or strong user retention have struggled to succeed.
This indicates that the market is moving into a more mature phase. Rather than rapid expansion, the goal is to move toward sustainability, profitability, and real-world use.
Meanwhile, small and medium-sized projects remain the most visible as the industry recovers.
A note More than 20 Crypto Services Will Be Suspended in the First Half of 2026 appeared for the first time BeInCrypto.
