Bitcoin Network Rune DEX Platform OdinSwap Announces Shutdown

BlockBeats News, February 20, according to official sources, the Bitcoin network Rune DEX platform OdinSwap announced that it and the Rune launch platform Valhalla will gradually cease operation, and all user funds are safe.

OdinSwap and Valhalla will continue to operate until February 28, 2025. Users are advised to withdraw their funds before February 28. After February 28, any unclaimed balances will be refunded manually, but users will need to pay the appropriate BTC network fees. Refunds will be processed manually and may take up to a month to complete. Refunds will only be issued for balances exceeding the network fees.

During this transition period, OdinSwap is open to strategic partnerships/collaborations and welcomes potential partners interested in integrating with the platform to inquire.

BlockBeats previously reported that as of February 15, the Bitcoin network transaction volume (7-day moving average) had dropped to 330,000 transactions, hovering near a 12-month low, a 55% decrease from the peak of 730,000 transactions in the network's history. Rune fees generated in the last 30 days have dropped to less than $20,000 (compared to $60 million generated on the day of launch).