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via CoinDesk · By CoinDesk Staff

Botanix bet big on 'Bitcoin DeFi.' Its shutdown suggests users never cared

BTC

BTC/USDT

$79,650.68

-1.71%

$79,650.68

-1.71%

(24s)

24h Volume

$17,695,573,101.33

24h H/L

$81,423.03 / $78,660.00

Change: $2,763.03 (3.51%)

Long/Short

52.6%

Long: 52.6%Short: 47.4%

Funding Rate

-0.0011%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,697.72

▲ 0.05%

Volume (24h): -

Resistance Levels

Resistance 3$91,281.84

Resistance 2$88,315.23

Resistance 1$80,811.61

Price$79,697.72

Support 1$79,507.02

Support 2$76,172.06

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.5

CoinDesk Staff

(12:00 PM UTC)

1 min read

Reviewed byJames Mitchell

0 comments

A 'Bitcoin DeFi' project just shut down with a brutal post-mortem: Users just didn't care

"It did not work," Botanix said. "At lest not in this market and not in this timeline."

Bitcoin layer-2 network Botanix is being wound down a year after its mainnet went live.

The project cited market conditions and broader indifference within the cryptocurrency industry towards establishing greater utility…

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CoinDesk Staff · CoinDesk

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