Botanix Labs has announced the shutdown of its Bitcoin Layer 2 network after reporting 25 million transactions and 200,000 wallets during its year-long mainnet operation. The team said user demand was not sufficient to sustain the network economically.
Bitcoin's roughly 50% drop from its October 2025 peak of $126,080 is its shallowest bear market ever versus 74% to 90% in prior cycles, but analysts at CoinEx, DWF Labs, and B2PRIME say the bottom isn't in.
The shutdown highlights the challenges of sustaining Layer 2 networks without token incentives, impacting future Bitcoin scalability solutions. Botanix to wind down Bitcoin Layer 2 network, urges asset withdrawal by July 9.
The banking arm of Japanese financial giant SBI Holdings is reportedly launching a crypto rewards program for depositors as part of a broader push to expand its digital assets business.
Romain Jerome released the Moon Invader Bitcoin in 2014 — the first officially Bitcoin-themed Swiss luxury watch.
With Bitcoin recently sliding below the critical $60,000 threshold to hit a new cycle low, the cryptocurrency market is filled with questions about whether the asset has finally bottomed out.
Bitcoin has been forming a pattern for years now, and even with the uncertain price movements, this pattern has now finally be completed. This was explained by crypto analyst Bitcoin Teddy on the X social media platform, showing this pattern, how it was formed, and what the implications are for this formation on the Bitcoin price.
On June 9, the U.S. House Ways and Means Committee conducted a hearing to examine six cryptocurrency tax reform proposals. Rather than bundling them into a single comprehensive package, lawmakers introduced each bill separately.
Digital currency leader Bitcoin and precious metal gold experienced synchronized declines Wednesday as market participants recalibrated expectations around monetary policy. Elevated inflation readings could reinforce the Federal Reserve's restrictive stance, pressuring non-yielding assets.
Billionaire financier Tim Draper believes that the conventional banking system faces a more immediate threat from quantum computing than Bitcoin does. The statements have raised a discussion about which financial institutions are at the greatest risk as the technology continues its rapid advancement into the mainstream.
Bitcoin is already being eyed for a move toward $65,000 if a US-Iran deal is sealed, with US President Donald Trump saying such an agreement could be signed within two or three days. Related Reading: A 400 Billion Shiba Inu Surprise: Whale Wallet Springs Back To Life The top crypto asset had also clawed back from recent lows near $59,500 and was trading around $62,350 as traders weighed the odds of a shift in Middle East tensions.
Bitcoin plunged beneath the $60,000 threshold last Friday, concluding its most devastating week since the spectacular implosion of FTX exchange in November 2022. The cryptocurrency registered a brutal 16% contraction across seven days, representing the most severe weekly deterioration witnessed in more than two years.