The crypto bear market "shutdown wave" arrives as scheduled, with infrastructure and application layer projects withdrawing or transforming en masse.

Mars Finance reports that on April 17, 2026, there was a clear trend of project contraction and shutdowns in the cryptocurrency industry, with multiple infrastructure, public chain, and application layer projects announcing closures or entering liquidation processes. Today, Mint Blockchain announced a complete halt of operations, with users required to withdraw assets by October 20. The Base ecosystem lending protocol Seamless previously announced it would close its frontend interface and cease services by June 30; the privacy email system Dmail Network also announced it would gradually cease all operations starting May 15, 2026.

Among infrastructure, wallet, and tool projects, several applications are also in the exit phase. Cosmos ecosystem wallet Leap Wallet will cease operations on May 28 and require users to complete asset migration; Intergaze, focused on NFTs and zero gas chains, will complete asset withdrawals 14 days before cross-chain shutdown. Additionally, on-chain data analysis tool Parsec, after five years of operation, officially stopped services and initiated refunds, while DeFi derivatives protocol Polynomial announced an orderly shutdown of its current business.

Meanwhile, some mature applications and ecosystem products are also entering strategic contraction and transformation phases. Magic Eden will close its Bitcoin and EVM markets and stop supporting multi-chain wallets; affected by a hacking attack, Step Finance announced that its SolanaFloor and Remora Markets will cease operations entirely, but SolanaFloor was later acquired and restarted by the Jito Foundation. Lending protocol ZeroLend has lowered most market LTVs to 0% and urged users to withdraw funds as soon as possible; decentralized stablecoin protocol Angle Protocol announced it will cease operations by March 2027 and transform into DeFi incentive platform Merkl.

Overall, during this round of cryptocurrency downturn, project exits cover multiple sectors including public chain networks, lending protocols, NFT markets, wallets, analysis tools, and trading infrastructure.