More than 20 Crypto Projects Close in 2026, a Sign of the Industry Entering a Strict Selection Phase?

Updated

April 6, 2026

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Gambar More than 20 Crypto Projects Close in 2026, a Sign of the Industry Entering a Strict Selection Phase?

Jakarta, Pintu News – The crypto and cryptocurrency industry is entering a new phase of consolidation after more than 20 projects ceased operations throughout the first half of 2026. These closures cover a wide range of sectors, from wallets, exchanges, NFT platforms, to DeFi tools. This reflects a major change in the dynamics of a market that is becoming increasingly competitive. Amidst the dominance of Bitcoin and Ethereum , smaller projects are facing pressure to survive in a tougher environment.

Crypto Project Closures Expand

Several notable crypto projects have ceased operations during this period. Magic Eden shut down wallet services and reduced multi-chain support to refocus on the Solana ecosystem. Leap Wallet also announced a complete shutdown of operations at the end of May with no plans to pivot. This move shows that even projects with a sizable user base are not immune to market pressure.

21 crypto projects are shutting down

if you have assets on any of these, move them out

1. Fantasy top (@fantasy_top_) → Core mode sunset ~mid-June

2. Magic Eden ME Wallet (@MagicEden) → https://t.co/mRmhM3O8gs

3. Leap Wallet (@leap_wallet) → https://t.co/GYEr8AVYlS

4.…
— Scribbler (@Defi_Scribbler) April 3, 2026

In addition, derivatives exchange Bit.com is also phasing out services. DeFi platform Slingshot and Web3 messaging service Dmail also followed the shutdown trend. Previously, NFT marketplace Nifty Gateway and analytics tool Parsec had also ceased operations. These consecutive shutdowns indicate that the cryptocurrency industry is undergoing a natural filtering phase.

The Impact of the End of the Bull Market Era

Most of the projects that closed were launched during the bull market of 2021-2022 and early 2025. During this period, funding was abundant and user growth was rapid. Many projects thrived without a clear business model due to the focus on aggressive expansion. However, the current market conditions have changed drastically with more limited liquidity.

REMINDER!

ME Wallet enters export-only mode tomorrow and will no longer be available on App Stores.

Be sure to export your assets or wallets.https://t.co/ZzQJ0FGe7y
— Magic Eden 🪄 (@MagicEden) March 31, 2026

The decline in trading volumes is also a major factor accelerating consolidation. User activity is now concentrated on large platforms with high liquidity. As a result, small projects struggle to maintain a user base. Without stable revenue, many projects are unable to survive in the long run.

Crypto Industry Heads for a More Mature Phase

This wave of closures is seen as a sign that the crypto industry is entering a more mature phase. The focus is now shifting from fast growth to sustainability and profitability. Investors are also starting to be more selective in supporting cryptocurrency projects. Only platforms with real utility and active users stand a chance.

This consolidation also reinforces the dominance of big players in the market. Platforms with high liquidity and extensive ecosystems are becoming the primary destination for users. On the other hand, small and medium-sized projects are the most vulnerable. This trend is expected to continue until the market finds a new balance.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

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