101 crypto projects shut down in 2026, DeFi leads losses

The crypto industry has quietly been holding a funeral every other day this year. According to data tracked by RootData, between 99 and 101 crypto projects have ceased operations, filed for bankruptcy, or gone inactive from the start of 2026 through late July. More than half of them were DeFi protocols. The body count keeps climbing The closures have accelerated through the first and second quarters of 2026, touching nearly every corner of the industry. DeFi protocols make up the largest share, but wallets, exchanges, Layer-2 infrastructures, and NFT projects have all contributed to the tally. Among the most notable casualties: BitMart, which announced its orderly exit on July 27, and AscendEX, which shut down on July 1. On the DeFi side, Goldfinch and Zapper both ceased operations. Layer-2 projects weren’t spared either, with names like Loopring and Botanix appearing on the closure lists. The range of 95 to 101 depends on how you count. Some trackers include projects whose websites have gone dark but haven’t issued formal shutdown announcements. Others stick strictly to official closure statements and bankruptcy filings. Why so many, why now The primary driver is straightforward: ...