Bitcoin's OdinSwap Shuts Down: Users Urged to Withdraw Funds

The Bitcoin network's Rune DEX platform, OdinSwap, has announced its shutdown, effective February 28, 2025. The platform, along with its launch platform Valhalla, will gradually cease operations, but user funds remain safe. OdinSwap and Valhalla will continue to function until the shutdown date, and users are advised to withdraw their funds before then. Any unclaimed balances after February 28 will be refunded manually, with users responsible for paying the appropriate BTC network fees. Refunds may take up to a month to process and will only be issued for balances exceeding the network fees.

During the transition period, OdinSwap is open to strategic partnerships and collaborations, welcoming potential partners interested in integrating with the platform to inquire. This move comes amidst a decline in Bitcoin network transaction volume, which had dropped to 330,000 transactions as of February 15, 2025, hovering near a 12-month low and a 55% decrease from the network's peak of 730,000 transactions. Rune fees generated in the last 30 days have also dropped significantly, to less than $20,000, compared to the $60 million generated on the day of launch.