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FollowingRootData released the "2026 List of Deaths Projects in the Crypto Industry", and 99 projects have ceased operations.
The blockchain data platform RootData released its "2026 List of Deaths Projects in the Crypto Industry", revealing that as of 2026, 99 cryptocurrency projects have ceased operations. The report compiles projects that have been formally closed, filed for bankruptcy, or have websites that have been inaccessible for long periods of time, highlighting ongoing challenges to long-term viability in the digital asset space.
Closed projects cover multiple crypto areas
This list covers a wide range of crypto businesses, including both well-known and unknown projects. The wallets named were Family, Ctrl and Leap. Large centralized exchanges such as BitMart, BitMEX, and AscendEX also appear in the list, indicating that the impact has spread to multiple core industry services. [TAG
Notably, the wave of closures also extended to infrastructure and decentralized finance (DeFi) projects, including companies such as Zapper, Stream Finance, Parsec, Loopring and Goldfinch. RootData's findings suggest turbulence in almost every segment of the crypto space, from exchanges and wallets to DeFi and web tools.
Acceleration of consolidation
Unlike previous declines, the latest round of closures is not limited to specific categories such as DeFi or NFT. Projects affected include exchanges, lending agreements, non-homogeneous token (NFT) markets, Layer-2 networks, wallets, artificial intelligence (AI) products and developer tools. This suggests that the current market contraction is more comprehensive and reflects the industry's broad consolidation trend.
This exhaustive list emphasizes that current market conditions affect both niche projects and mature players. For example, Loopring and Goldfinch-two platforms recognized in the areas of expansion and decentralized finance-are tied with smaller wallet and infrastructure teams.
Boom-period projects get stuck after market shifts
Thousands of new protocols, applications and businesses have emerged in the crypto market in recent years-especially during the bull market of 2024-2025, when venture capital funds surged and rising token prices supported experimental business models. Many projects rely on market optimism and rapid capital inflows rather than continued product use and recurring income.
As market conditions tighten, capital flows become more picky. Investors prioritize real user growth and stable revenue streams, which presents adaptation challenges for the team. Many projects failed to move from speculative valuations to practical utility, leading to mass closures.
Many projects launched during the 2024 and 2025 boom years will not survive after capital becomes more picky and the focus shifts from token-driven growth to measurable user adoption and continued revenue.
Bankruptcy and closures: Not always the same thing
RootData tracks multiple outcomes, including bankruptcy filings, formal company closures, and "dead" projects that become inactive due to extended website outages. The impact of these results varies widely. Although the bankruptcy of an exchange may have a direct impact on users, closing the agreement after the community governance process is a more orderly conclusion.
Example project types Closure results: Exchanges BitMart, BitMEX, AscendEX (bankruptcy/closure); Wallet Family, Ctrl, Leap (inactive/closure);DeFi/Infrastructure Zapper, Stream Finance, Loopring, Goldfinch (closure).
The speed of failure is not unprecedented in the field of encryption. Previous industry contractions, such as the collapse of many initial coin offerings (ICOs) in 2018 and the collapse of centralized lending institutions after the bear market in 2022, have historically led to more intense market competition and a reduction in the number of active projects.
Every stage of large-scale expansion in crypto history ends with a significant wave of consolidation and project closures-often making survivors stronger as a result.
