DeFi projects that managed to survive the fallout from the Terra and FTX collapses in 2022 are now shutting down in 2026. This trend may seem counterintuitive, given that these projects were able to withstand the significant challenges posed by the previous bear market.
However, analysts do not attribute this phenomenon to industry consolidation, as might be expected. Instead, they suggest that other factors are at play, according to reporting from CoinTelegraph.
This development highlights the complex and evolving nature of the DeFi landscape, where projects must continually adapt to changing circumstances in order to remain viable.