<div id="readability-page-1" class="page">Twenty-one Web3 projects have announced plans to suspend services or downsize operations as of early April. According to NS3.AI, the prolonged bear market has led to increased operating costs, a decline in user numbers, and reduced liquidity, prompting these decisions. Crowdfund Insider reported that Leap Wallet and Magic Eden have set shutdown dates for May 28 and May 1, respectively.</div>

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<p>Twenty-one Web3 projects are suspending services or downsizing due to the prolonged bear market, which has increased operating costs and reduced user numbers and liquidity. Notable projects like Leap Wallet and Magic Eden have announced shutdown dates of May 28 and May 1, respectively, as reported by Crowdfund Insider.</p>

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Web3 Projects Face Service Suspensions Amid Bear Market