Crypto Bear Market Takes Its Toll: 95 Projects Shut Down in 2026

Crypto project shutdowns accelerated in 2026, particularly during the first half of the year. According to Cryptorank, 17 notable projects shut down, raising $8.9B in disclosed funding but failing to make a difference in the crypto economy.

The recent outflow of projects repeats similar patterns from previous bear markets. In 2026, shutdowns were partially due to consolidation as a handful of products became main activity venues, leaving smaller copycat projects or competitive platforms unable to justify their existence and attract users.

Web3 projects in 2026 also suffered from slower token trading, with users shifting liquidity to tokenized equities or perpetual futures trading. The model of crypto startups promising token appreciation after the initial raise did not work during the 2026 bear market.

A total of 95 projects shut down in 2026, spanning multiple sectors and narratives. The recent wave of shutdowns suggests there is only enough space for a handful of leading projects in crypto.