• Parsec shuts down amid ongoing crypto market volatility The on-chain analytics firm’s focus on decentralized finance and non-fungible tokens had fallen out of step with the industry’s current trajectory. • Cointelegraph in your social feed On-chain analytics firm Parsec is closing down after five years, as crypto trader flows and on-chain activity no longer resemble what they once did. • “Parsec is shutting down,” the company said in an X post on Thursday, while its CEO, Will Sheehan,saidthe “market zigged while we zagged a few too many times.” Sheehan added that Parsec’s primary focus on decentralized finance and non-fungible tokens (NFTs) fell out of step with where the industry has now headed. • “Post FTX DeFi spot lending leverage never really came back in the same way, it changed, morphed into something we understood less,” he said, adding that on-chain activity changed in a way he never understood. • NFT sales reached about $5.63 billion in 2025, a 37% drawdown from the $8.9 billion recorded in 2024. • Average sale prices also declined year over year, falling to $96 from $124, according toCryptoSlam data.
Article Summaries:
- Parsec, an on‑chain analytics firm that launched in January 2021, announced it will shut down after five years. CEO Will Sheehan said the firm’s focus on DeFi and NFTs no longer matched the market’s evolution, noting that post‑FTX lending and on‑chain activity had shifted in ways the company could not adapt to. The firm, backed by UniSwap, Polychain Capital and Galaxy Digital, had tracked a crypto market that saw Bitcoin fall 46 % from its October 2024 peak and NFT sales drop 37 % in 2025. Parsec’s closure follows the recent shutdown of Entropy and signals a broader industry consolidation, as larger firms absorb smaller projects.
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