Arbitrum's native token, ARB, surged 19% following $568 million in onchain trading volume generated by Robinhood's new blockchain, primarily driven by memecoins.
The failure of **Botanix**, a **Bitcoin** Layer 2 solution, suggests **Bitcoin** holders overwhelmingly prefer **Ethereum DeFi** over native **Bitcoin L2s**.
New proposals aim to introduce Bitcoin covenants, enabling complex spending conditions and enhancing the network's capabilities for advanced applications.
The "Bitcoin DeFi" project Botanix has announced its closure, attributing the shutdown to a significant lack of user engagement and market fit.
The Ethereum Layer 2 landscape is undergoing a significant transformation, with many general-purpose scaling solutions struggling to find their unique value proposition.