This includes ETFs, Stablecoins, Tether, L2's, Ordinals, NGO's, Nostr, ECash, Security's. All the transactions have been moved elsewhere. Why? Incentives have changed, developers have left to build elsewhere.

1. ETFs are fine... they are someone else holding the Bitcoin so you can get price exposure. That's OK but it is not transactional. And it is not self-custody... the government or powers-that-be can confiscate the ETFs any time they want.
2. Stablecoins... I don't understand their purpose? Maybe in the 'global south' where people want easier access to dollars. But generally? They lose value every single year and they are 'pegged' to a Dollar. Who wants this??
3. L2s... the only really viable L2 right now is Lightning. Anything else with a 'token' is a scam... and Ark etc are experimental at best.
4. Ordinals the hyped-up monkey jpeg scam is completely dead at this point. So are 'memecoins' on Bitcoin which are just imaginary 'identifiers' for 'memes' to be traded. (I have a hard time believing they are actually traded).

6. NGOs? Not sure what this is in reference to... and if it's NGOs (non-governmental organizations) OK they need Bitcoin too. So who else is using it?
7. NOSTR is fine it's a 'somewhat-decentralized' social media. For all its hopium it's not an excuse to abandon self-custody (not mentioned enough on NOSTR) or Bitcoin transactions though.
8. ECash. Is ECash really necessary right now? How many more Lightning channels should be and need to be opened and why aren't they?
9. Securities. Like the ETF OK great... more NGU in the short term. But what about Bitcoin the monetary network or Bitcoin the alternative to Fiat? That requires transactions... and transactions require self-custody. So where is everyone? And if 'no-one is using' Bitcoin transactionally... if it is not ultimately exchanged for goods and services...