The tweet was deleted by the author.
But we saved everything 🙂.
Lefteris Karapetsas observes that crypto projects are failing at a rapid pace, with closures occurring daily. He highlights that factors such as hacks, lack of users, challenges in funding, and missing product-market fit are driving this consolidation within the ecosystem.
Karapetsas suggests that while some level of consolidation can be healthy, excessive contraction may indicate an ecosystem facing significant decline.
Karapetsas has previously reflected on ten years since the DAO hack, noting how the incident drained funding and changed Ethereum’s trajectory here. He has also highlighted governance issues within the Ethereum Name Service, urging ENS holders to delegate tokens beyond Labs-backed delegates in a recent report. These observations come as consolidation pressures continue across the crypto sector.