Bitcoin layer-2s face a bear-market reality check (opens original article in a new tab)

Bitcoin layer-2 projects face challenges as market conditions highlight the dominance of Bitcoin as a store of value over programmable applications.

• Bitcoin layer-2 projects like Botanix are shutting down due to market challenges
• Bitcoin's DeFi activity remains significantly lower than Ethereum's despite its larger market cap
• Builders argue Bitcoin's utility should focus on unique security features rather than competing with general-purpose blockchains