According to CoinMeta, since the beginning of this year, 101 crypto projects have announced the cessation of operations, bankruptcy, or long-term suspension of maintenance, which is a significant increase from the 70 projects counted at the end of June. This round of project closures covers various sectors including trading platforms, DeFi, NFT, wallets, and infrastructure. Against the backdrop of substantial declines in token prices, tightened financing conditions, and frequent security incidents, projects that rely on token subsidies and continuous financing to sustain their operations are under particularly heavy pressure.