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via Decrypt · By Decrypt Editorial

Botanix Will Shut Down Bitcoin Layer-2 Network in July, Citing Lack of DeFi Demand

BTC

BTC/USDT

$62,420.49

-2.94%

$62,420.49

-2.94%

(24s)

24h Volume

$18,984,442,378.20

24h H/L

$64,478.00 / $62,272.07

Change: $2,205.93 (3.54%)

Long/Short

66.1%

Long: 66.1%Short: 33.9%

Funding Rate

-0.0015%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,654.57

▼ -0.48%

Volume (24h): -

Resistance Levels

Resistance 3$68,191.60

Resistance 2$64,790.26

Resistance 1$62,971.83

Price$62,654.57

Support 1$61,914.37

Support 2$60,472.98

Support 3$59,130.91

Pivot (PP):$62,717.25

Trend:Downtrend

RSI (14):34.2

Decrypt Editorial

(06:11 PM UTC)

1 min read

Verified bySarah Chen

836 views

0 comments

In brief

Botanix disclosed plans to wind down its Bitcoin-based layer-2 network, asking users to withdraw funds.
The project said it didn't achieve significant product market fit, while generating lackluster fees.
Botanix Labs raised $8.5 million in 2024, a round that saw participation from several Bitcoin influencers.

Botanix asked users to withdraw funds on Wednesday, disclosing plans to wind…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Decrypt Editorial · Decrypt

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