On-chain analytics platform Parsec announced its shutdown, citing ongoing crypto market volatility. The company thanked its users on X for their loyalty over the past years. This decision comes weeks after crypto startup Entropy also closed down and returned funds to investors. Bullish CEO Tom Farley predicted a major wave of consolidation in the sector over the coming months. Bitcoin has declined 46% from its October all-time high of $126,100 to $67,246, and Google searches for « bitcoin going to zero » have reached their highest level since the post-FTX panic in November 2022.
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