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  1. that’s usually where eyelets for mounting a rack are located. seems most likely given they’re on both seat stays.

    frame looks repainted, possibly painted over the holes. does it look circular? can you take a video or give more angles of the holes?

  2. That is most likely the holes to mout a rack on the bike and was poorly painted over.
    Try to google the bike model, maybe you can get a picture with those holes visible

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