Botanix Shuts Down as Bitcoin Defi Demand Falls Short

BTC

BTC/USDT

$79,658.64

-1.72%

$79,658.64

-1.72%

(24s)

24h Volume

$17,703,737,223.63

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

Cointelegraph Staff

(11:45 AM UTC)

1 min read

Reviewed byJames Mitchell

0 comments

Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation.

In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.”

The decision comes despite integrations with major crypto infrastructure providers…