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via CoinDesk · By CoinDesk Staff

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

BTC

BTC/USDT

$84,063.20

+0.18%

$84,063.20

+0.18%

(24s)

24h Volume

$15,503,647,429.89

24h H/L

$85,255.00 / $83,183.00

Change: $2,072.00 (2.49%)

Long/Short

58.4%

Long: 58.4%Short: 41.6%

Funding Rate

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Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$84,007.02

▼ -0.11%

Volume (24h): -

Resistance Levels

Resistance 3$87,335.96

Resistance 2$85,667.07

Resistance 1$84,048.83

Price$84,007.02

Support 1$83,103.66

Support 2$80,169.72

Support 3$77,064.96

Pivot (PP):$84,179.33

Trend:Uptrend

RSI (14):63.9

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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