Botanix is winding down its Bitcoin Layer 2 network and urging users to withdraw assets before July 9.
The project said users mostly stored assets long term, limiting transactions and fee revenue.
It also cited weak token launches, demand moving to wrapped Bitcoin on Ethereum networks, and users choosing CEXs for convenience over decentralization.
Stellar brings DTCC onchain. The premier post-trade market infrastructure records 4.7 quadrillion dollars in yearly securities transactions, oversees 114 trillion dollars in assets under custody across 150 countries and territories, and processes 25 billion repository service messages annually
BREAKING: Over $12.95 trillion has been wiped out from gold and silver in just 132 days.
Gold has crashed -26.50% from its January peak, wiping out $9.75 TRILLION in market value.
Silver is down -47.69%, wiping out $3.2 TRILLION.
The craziest part is that this is happening while the Iran war is still active, oil is near $90, and inflation remains elevated, exactly the type of environment where gold and silver are supposed to outperform.
LATEST: ⚡ SpaceX's IPO has attracted over $250B in demand, nearly 4x oversubscribed, as the company seeks to raise $75B in what would be the largest IPO ever, according to Reuters.
“Dogecoin trillionaire” billboard outside SpaceX draws attention online amid continued discussion about Elon Musk potentially becoming the world’s first trillionaire.