Summary
- On-chain analytics firm Parsec said it has decided to shut down its services due to recent shifts in market structure and a slowdown in trading flows.
- Will Sheehan, Parsec’s CEO, said that after the FRX incident, the DeFi market’s leverage structure and on-chain activity have changed in ways unlike the past.
- In 2025, NFT sales fell 37% year on year to $5.63 billion, and the industry expects major consolidation and M&A to proceed across the digital-asset sector.
On-chain analytics firm Parsec will shut down its business.
According to digital-asset news outlet Cointelegraph on the 20th (Korea time), Parsec said in a post on X (formerly Twitter) that it has decided to discontinue its services.
Parsec has provided services that analyze on-chain data in decentralized finance (DeFi) and non-fungible tokens (NFTs). However, it was reported that the business environment has deteriorated recently due to changes in market structure and a slowdown in trading flows.
Will Sheehan, Parsec’s chief executive officer (CEO), said, “We couldn’t keep up while the market moved in a different direction,” adding that “since the FRX incident, the DeFi market’s leverage structure and on-chain activity have shifted in ways different from the past.”
A downturn in the NFT market also weighed. In 2025, NFT sales fell 37% year on year to $5.63 billion.
The industry is also projecting that if changes in market structure accelerate in earnest, restructuring through mergers and acquisitions of existing projects will pick up. Tom Farley, CEO of Bullish, previously told CNBC in an interview that “major consolidation will unfold across the digital-asset industry over the coming months.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
