Parsec shuts down after five years amid crypto market volatility

Decentralized finance and NFT analytics platform Parsec announced it is shutting down after five years in operation, confirming the closure in a post on X ^[1]. Parsec originally launched in January 2021 during a period of rapid crypto growth ^[2].

News outlets reporting on the shutdown point to ongoing crypto market volatility and a slowdown in on‑chain activity and trading volumes as pressures facing analytics firms; one report highlights recent events such as the ZeroLend collapse as evidence of a broader DeFi liquidity strain ^[4][3].

Multiple publications framed Parsec's closure as another casualty of the current market environment, noting that the downturn has reshaped demand for tools that supported the boom in DeFi and NFTs ^[1][2][3].

Parsec’s confirmed shutdown after five years — a firm that began in January 2021 — adds to industry signs that prolonged volatility and reduced on‑chain activity are affecting service providers across the crypto ecosystem ^[2][1].