Parsec Shuts Down Signals Extreme Market Anxiety as Market Cap Falls 50% Since October Crash
The post Parsec Shuts Down Signals Extreme Market Anxiety as Market Cap Falls 50% Since October Crash appeared on BitcoinEthereumNews.com.
Parsec shut down as the crypto market remains in “extreme fear.” Bitcoin is still down nearly 47% from its peak, and several crypto firms have closed or filed for bankruptcy. Parsec, an AI-powered on-chain analytics platform, announced on February 19 that it is closing its operations after five years in business. The crypto market continues to struggle months after the October crash, which has led to several companies shutting down their operations. 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 🔭 — parsec (@parsec_finance) February 19, 2026 October Crash Impact The crypto market has not fully recovered since the asset liquidation happened on October 10. Since then, the total crypto market value has dropped nearly 50%, and BTC is now trading at 47% from the all-time high. Investors’ extreme fear appears to be increasing, and the Google searches for Bitcoin Zero have reached a record high, which shows the rising concern about further price declines. Apart from Parsec, several companies have shut down their operation due to market difficulties. Kadena, a blockchain company, and the Bit.com exchange have shut down operations. Analytics platform DappRadar decided to wind down, and OKX reduced the staff in its institutional division. Followed by Polygon, which announced the layoffs. Additionally, NFN8 Group Inc., a bitcoin mining company, filed for Chapter 11 bankruptcy due to financial strain. About Parsec Parsec, founded in 2021, provided AI-powered tools that helped users analyze blockchain activity and build customized cryptocurrency dashboards. The company has raised funding from well-known investors such as Galaxy Digital, Polygon Capital, and Uniswap…
Filed under: News - @ February 20, 2026 12:28 pm