Chain Analysis Tool Parsec Announces Cessation of Operations

KuCoinFlash

Release Time: 02/19/2026 22:46:23

Summary

The on-chain news platform Parsec has announced the cessation of its operations. The team confirmed via its website and social channels that services have been discontinued after five years, with refunds and subscription cancellations currently in progress. Launched in early 2021, Parsec provided customizable on-chain data tools, including DeFi and NFT dashboards, visualization tools, and API access. The project raised $125,000 in seed funding and $4 million in expansion capital, supported by Galaxy Digital, Polychain Capital, and others. Inflation data tracking was among the features enabled by its API services.

Odaily Planet Daily reports that the on-chain data analytics platform Parsec has announced the official shutdown of its operations. The team stated on its official website and social media platforms that, after five years of operation, the service has been discontinued, and they are currently processing refunds and canceling all active subscriptions.

Parsec was launched in early 2021, offering a customizable on-chain data terminal and analytics platform that enables users to build dashboards and visualization tools for areas such as DeFi and NFTs, along with API services. Its Parsec Agent also explored integrating large language models (LLMs) for on-chain research and analysis, including market prediction, social sentiment tracking, and market activity monitoring.

The project previously completed a $1.25 million seed round and a $4 million seed extension round, with investors including Galaxy Digital, Polychain Capital, Robot Ventures, and Uniswap Ventures.

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