Crypto Market Consolidation Leaves 100 Projects Behind
More than 100 crypto projects have closed or gone inactive in 2026 as users, capital, and liquidity concentrate around a smaller number of platforms.
In late July, four established crypto businesses filed for bankruptcy protection or announced plans to close, dealing another blow to tokens that have already been languishing for months.
The announcements sent the projects' tokens tumbling. BitMEX Token (BMEX) lost more than 90% after the exchange announced its closure, while BitMart Token (BMX) dropped about 58% in 24 hours following BitMart's announcement.
Crypto database RootData has identified 116 project closings so far in 2026. The four cases were part of a wider contraction where users and capital are concentrating around a smaller group of exchanges, networks, and applications.