Another one bites the dust? A report suggested an initial bankruptcy filing from Genesis could come before February.
Liquidity News
In the cryptocurrency market, liquidity fundamentally refers to how simple it is to exchange one coin for another (or government-issued fiat currencies). Order books, similar to those seen on a stock market, are one method to achieve liquidity. Here, buyers and sellers of assets enter orders, detailing the price and quantity they are willing to pay for the asset they wish to acquire or sell. The asset’s price is then determined by an exchange, such as a centralized exchange, matching buy and sell orders.
A market maker, an agent who is always prepared to purchase and sell specific assets, can be used as an alternate method of supplying liquidity to the market. For example, decentralized finance (DeFi) has centralized exchanges that serve as market makers, like Binance (a company). However, a decentralized counterpart that replaces a centralized market maker is one of the intriguing features of DeFi. For instance, tokens can be swapped using a decentralized exchange (DEX) like Uniswap rather than a centralized exchange.
Furthermore, to establish a liquid DeFi system, liquidity pools are important. In order to have enough funds in a liquidity pool, liquidity providers (LPs) are needed, who put a large sum of money into the pool. Because liquidity providers help the protocol provide liquidity, they receive a reward in return. This reward is generated by the transaction fees, which are paid by the pool’s users.
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The list of illiquid tokens includes a Donald Trump prediction token, an animal fundraising coin and tokens for several Solana projects.
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The beleaguered bank was allegedly moving money between FTX and Alameda; then it sold debt at a discount and sacked employees after a bank run.
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Achieving complete decentralization can happen through cross-chain liquidity aggregation.
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Grayscale’s Ethereum, Litecoin and Bitcoin Cash Trusts are at steep discounts as concerns whirl around Digital Currency Group’s liquidity.
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Core Scientific estimates that canceling the agreement with Celsius will provide $2 million in revenue per month as long as Bitcoin stays around $16,700.
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Crypto lending platform MakerDAO has since refuted the data, claiming the DefiLlama data does not account for approximately $1 billion in additional TVL.
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While the crypto markets have taken a bashing in 2022, it hasn’t exactly been rosy for US stocks, bonds and real estate either.
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As a decentralized trading and matching system, the 1inch Swap Engine connects DeFi users and provides liquidity for crypto trades through professional market makers.
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The Digital Currency Group and its affiliates (DCG) cited liquidity problems as it suspended repayments, temporarily halting users from withdrawing their funds.
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The top 100 DeFi token had a mixed week with majority of them losing bullish momentum from the last week.
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Crypto investor sentiment saw a slight upswing, but the potential of a deep liquidity crisis in the sector could keep investors at bay.
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Following the FTX fiasco, retail and institutional investors alike are now looking to draw valuable conclusions.
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With investors moving their funds away from exchanges into self-custody, market liquidity is an immediate threat to struggling crypto businesses.
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Ben Zhou, co-founder and CEO of Bybit, announced a reorganization plan amid the prolonged bear market that involves a steep reduction in firm's workforce.
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