🌙 BTC Liquidity Rises

The increase of liquidity in bitcoin markets is an encouraging signal for a sustained price recovery, analysts said.

Author

Mike Gavela
October 31, 2023

Crypto Roundup - Oct 31

Bitcoin’s market is showing signs of a sustainable price recovery, with a notable increase in liquidity attracting attention from high-ticket traders and institutions. This is underscored by a $140 billion boost in Bitcoin’s market capitalization and almost $410 million in net inflows to Bitcoin-based funds over the past month. On the DeFi front, MakerDAO has moved $250 million to support its DAI stablecoin, while Tron is becoming a preferred choice for stablecoin transfers in emerging markets due to its efficiency and low transaction costs.

Top Stories:

  1. Bitcoin’s Rising Liquidity: Indicates a potential sustained price recovery, attracting high-ticket traders and institutions, though some analysts urge caution.

  2. MakerDAO's Strategic Move: Transfers $250 million to rebuild DAI collateral, maintaining its dollar peg and ensuring stability in the DeFi space.

  3. Tron’s Dominance in Stablecoin Transfers: Becomes the leading blockchain for stablecoin transactions, particularly in emerging markets, due to its low fees and fast transaction times.

TOP STORIES

Bitcoin liquidity on the rise could signal a sustained price recovery, analysts say

The increase of liquidity in bitcoin markets is an encouraging signal for a sustained price recovery, analysts said.

www.theblock.co/post/260258/bitcoin-liquidity-on-the-rise-could-signal-a-sustained-price-recovery-analysts-say

MakerDAO moves $250M from Coinbase to rebuild DAI collateral

The collateral backing Maker's DAI stablecoin’s peg dipped below intended levels — and it took multiple days to deploy backup funds.

blockworks.co/news/maker-dao-coinbase-dai

Tron Quietly Becomes the Leading Blockchain for Stablecoin Transfers - The Defiant

Emerging markets are pushing Tron to become the top blockchain for USDT and other fiat-backed stablecoin transfers.

thedefiant.io/tron-quietly-becomes-the-leading-blockchain-for-stablecoin-transfers

FUNDRAISES

OTHER HEADLINES

15 Years After the Bitcoin White Paper, Bitcoin Builder Culture Flourishes

What will we do in the next decade and a half?

www.coindesk.com/consensus-magazine/2023/10/31/15-years-after-the-bitcoin-white-paper-bitcoin-builder-culture-flourishes

Aave Floats New Plan To Restore GHO Peg - The Defiant

Liquidity Committee To Actively Manage GHO Liquidity Using Maverick Protocol

thedefiant.io/aave-floats-new-plan-to-restore-gho-peg

Gensler evokes Satoshi in Halloween post on Bitcoin anniversary, warns crypto firms to stop 'tricking' investors and 'treat' them with compliance instead

SEC Chair Gary Gensler isn't handing out treats to cryptocurrency firms any time soon as he settles into the Halloween spirit.

www.theblock.co/post/260255/gensler-evokes-satoshi-in-halloween-post-on-bitcoin-anniversary-warns-crypto-firms-to-stop-tricking-investors-and-treat-them-with-compliance-instead

Circle will no longer support stablecoin minting for individual consumer accounts

Stablecoin issuer Circle is discontinuing its support for consumer accounts, requiring users to make alternative arrangements.

www.theblock.co/post/260200/circle-stablecoin-individual-accounts

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