The company said its strategy no longer aligns with the direction of the industry
On-chain analytics company Parsec has announced it is shutting down after five years in operation. The firm shared the news on X, marking the end of a business that launched during the last major crypto boom. Leadership said shifting market conditions played a central role in the decision.
After 5 years, parsec is shutting down. Not how we wanted our story to end, but we are proud of what we built and the value we provided along the way.
We are eternally grateful to those that traversed the ups and downs onchain with us. It was quite the ride ðŸ”
— parsec (@parsec_finance) February 19, 2026
CEO Will Sheehan explained that the company’s strategy no longer aligned with the direction of the industry. Parsec focused heavily on decentralized finance and NFTs, sectors that have cooled significantly since their peak. He said post-FTX trading patterns and on-chain lending activity changed in ways the team struggled to adapt to.
NFT data reflects that slowdown. Sales volume in 2025 fell sharply compared with the previous year, and average sale prices also declined. Lower activity reduced demand for some of the analytics tools Parsec specialized in.
The company launched in early 2021, backed by well-known crypto investors including Uniswap, Polychain Capital, and Galaxy Digital. Its debut came shortly before Bitcoin surged to new highs, creating strong interest in blockchain data platforms.
Industry peers reacted with respect. Nansen CEO Alex Svanevik said the company had a solid run. The closure follows other recent shutdowns in the sector, adding to signs that crypto firms are under pressure.
Market conditions remain volatile. Bitcoin has fallen significantly from its record high, and online search trends show renewed anxiety among retail investors. Some executives predict consolidation ahead, with smaller firms either closing or being acquired. Parsec’s exit highlights how quickly conditions can shift in the digital asset space.
