1 hour ago
On-chain analytics steadfast Parsec is closing down aft 5 years, arsenic crypto trader flows and on-chain enactment nary longer lucifer what they erstwhile did.
“Parsec is shutting down,” the institution said successful an X station connected Thursday, portion its CEO, Will Sheehan, said the “market zigged portion we zagged a fewer excessively galore times.”
Sheehan added that Parsec’s superior absorption connected decentralized concern and non-fungible tokens (NFTs) fell retired of measurement with wherever the manufacture has present headed.
“Post FTX DeFi spot lending leverage ne'er truly came backmost successful the aforesaid way, it changed, morphed into thing we understood less,” helium said, adding on-chain enactment changed successful a mode helium ne'er understood.
NFT income reached astir $5.63 cardinal successful 2025, a drawdown of 37% from the $8.9 cardinal recorded successful 2024. Average merchantability prices besides declined twelvemonth implicit year, falling to $96 from $124, according to CryptoSlam data.
“Quite the ride,” Parsec says
Parsec, which had received concern from large manufacture players specified arsenic UniSwap, Polychain Capital, and Galaxy Digital, launched successful aboriginal January 2021, conscionable months earlier Bitcoin (BTC) surged from astir $36,000 to $60,000 by April, conscionable 4 months later.
Source: ParsecThe institution added successful its X station that they are “eternally grateful to those that traversed the ups and downs on-chain.”
“It was rather the ride,” Parsec said.
Alex Svanevik, the CEO of on-chain analytics level Nansen, said that Parsec “had a large run.”
Crypto manufacture whitethorn beryllium heading for consolidation
It comes conscionable weeks aft crypto start-up Entropy announced it is closing down and returning funds to investors, citing scaling issues and a conflict to find product-market fit.
Bullish CEO Tom Farley predicted during an interview with CNBC connected Feb. 8 that the manufacture volition spot a important consolidation successful the coming months with much projects snapped up by larger companies, which whitethorn pb to a overmuch little fragmented assemblage overall.
Meanwhile, Bitcoin’s terms has declined 46% from its October all-time precocious of $126,100 to present commercialized astatine $67,246, according to CoinMarketCap.
Meanwhile, Google searches for “Bitcoin going to zero” person surged to their highest level since the post‑FTX panic successful November 2022, according to Google Trends information for the past 5 years.
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