October 7, 2026, 19:00 UTC
📉 📉 📉
Igloo Inc. said it will close Abstract, its Ethereum Layer 2 network, on Dec. 15, 2026 after failing to generate enough usage and growth. The company cited stagnant activity, limited DeFi participation, thin liquidity, and high operating costs, and said it spent tens of millions of dollars supporting the chain. The shutdown follows similar closure plans for other struggling Ethereum scaling networks.
Source: https://whale-alert.io/stories/95f001933c63f9/Pudgy-Penguins-Igloo-to-Shut-Down-Ethereum-Layer-2-Network-Abstract-on-Dec-15-2026-After-Weak-Demand
⚠️ This content is an automated quote/summary from an external source, not personal opinion or investment advice.
📉 📉 📉
Igloo Inc. said it will close Abstract, its Ethereum Layer 2 network, on Dec. 15, 2026 after failing to generate enough usage and growth. The company cited stagnant activity, limited DeFi participation, thin liquidity, and high operating costs, and said it spent tens of millions of dollars supporting the chain. The shutdown follows similar closure plans for other struggling Ethereum scaling networks.
Source: https://whale-alert.io/stories/95f001933c63f9/Pudgy-Penguins-Igloo-to-Shut-Down-Ethereum-Layer-2-Network-Abstract-on-Dec-15-2026-After-Weak-Demand
⚠️ This content is an automated quote/summary from an external source, not personal opinion or investment advice.