Web3 Projects Sink at Rate of One Every Two Days

Over the past nearly 600 days, Web3 projects have been facing a brutal elimination process. According to Foresight News, at least 78 projects that raised over $1.5 million in total have announced shutdowns since 2025. Among those, 69 projects with confirmed funding amounts collectively received over $900 million in investment.

The rate of shutdowns has accelerated, with an average of one project dying every two days. The second quarter of this year saw a single-quarter peak of 17 shutdowns. Even well-known projects like DappRadar and Zapper have been affected, as well as veteran exchanges such as BitMEX and AscendEX (formerly BitMax).

The primary cause of death for these projects is insufficient funding, accounting for over 40% of the total. Lack of market demand comes in second, causing 17 companies to shut down.