Cointelegraph reported that cryptocurrency projects have been successively ceasing operations this year. The media outlet stated, "This month, decentralized email service Dmail decided to cease operations due to infrastructure cost burden, failure to attract investment, and low token utility. Additionally, DAO tooling platform Tally decided to end its business, concluding that the governance tool market has not yet grown sufficiently, and Step Finance ceased operations after its attempts at fundraising or sale following a hack did not yield results. In the past, project lifespans could be extended through token issuance or venture capital funding, but currently, these funding avenues are virtually limited. As a result, losses are quickly materializing, and there is an increasing number of cases leading to operational cessation rather than recovery," it explained.
