Crypto is going through a massive dot-com style shakeout as over 100 projects fold in 2026
An industry-wide reckoning is weeding out unsustainable startups, leaving behind only the protocols with real cash flow and actual users.
Crypto projects are experiencing a massive dot-com style shakeout in 2026 as over 100 projects have shut down, filed for bankruptcy, or gone permanently dark, according to data from RootData. The pace of closures is accelerating, with major firms like BitMEX, BitMart, Movement Labs, and Storj Labs announcing their exits within a single week in late July.
This wave of closures spans across various layers of the industry, including exchanges, wallets, DeFi lending protocols, NFT marketplaces, and layer-1 blockchains. The industry's maturation and the increasing selectivity of investors are cited as reasons for the consolidation, as only projects with sound business models and clear problem statements are likely to survive.
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