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Decentralized finance analytics platform Parsec is closing down after five years due to market dynamics and declining DeFi leverage post-2022 crypto collapse. The platform gained popularity during the 2020-2021 DeFi boom but struggled to sustain growth. The closure reflects broader strain in the crypto sector, with other platforms also shutting down due to volatility and thinning liquidity. Despite Parsec’s closure, its CEO remains committed to DeFi’s long-term vision.
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