liquidity

According to a report by Cryptonomist, GSR's market director Spencer Hallarn stated in an interview that the hype around tokenization has surpassed the actual usage on many platforms. The issue lies not in the market's demand for tokenized assets, but in the design of the platforms themselves. He pointed out that many walled garden-style tokenization platforms with strict KYC requirements generally lack meaningful trading volume, as cumbersome access and compliance processes limit activity.Hallarn believes that the real opportunity is not in tokenizing for the sake of tokenization, but in fixing the underlying pipelines of traditional banking and settlement systems, specifically the infrastructure for transferring funds and assets between institutions. This would make tokenization more of an infrastructure repair rather than merely a narrative of crypto products.He also mentioned that the stagnation in the crypto market this year is largely due to funds shifting towards AI infrastructure, with large tech companies raising substantial amounts of capital for AI infrastructure through equity financing, tightening the liquidity of various assets, and crypto is no exception. Its clients are also shifting from chasing short-term momentum to long-term budget planning, over-the-counter hedging, and RWA. If AI investment cools down and the Federal Reserve lowers interest rates, liquidity is expected to improve and support Bitcoin prices.

Bitget officially launches an institutional-level CFD liquidity solution aimed at quantitative teams, proprietary trading firms, funds, brokers, and high-net-worth professional traders, supporting high-frequency quantitative trading, arbitrage, and automated trading scenarios such as EA. As the demand for execution efficiency, liquidity, and low latency continues to rise among professional trading institutions, this solution aims to provide a more stable and efficient execution environment for large-scale, high-frequency trading.In terms of execution and liquidity, Bitget adopts a 100% STP (Straight Through Processing) model, routing orders directly to external liquidity pools and aggregating multi-tier market depth from global tier-one banks and non-bank market makers to reduce slippage and market impact during the execution of large orders. Meanwhile, trading servers are deployed in core financial data centers such as London LD4 and Tokyo TY3, supporting sub-millisecond order matching through dedicated lines and fiber connections, and providing FIX API to facilitate institutional clients' access to existing trading systems, bridging tools, and liquidity aggregation platforms.In terms of fund management, client assets and platform operating funds are segregated, and asset management transparency is enhanced through independent custody accounts, compliance reviews, and third-party auditing mechanisms. The launch of this institutional-level liquidity solution further improves Bitget's CFD backend trading infrastructure, complementing existing retail products and covering a multi-layer trading demand from ordinary traders to professional institutions.

According to the disclosure from the Common platform, Sushi DAO has released an RFC proposal to comprehensively restructure the SUSHI token economic model. The proposal suggests replacing the current xSUSHI fee distribution mechanism with a more balanced framework, specifically including: reducing the xSUSHI buyback scale to a sustainable level, establishing a protocol reserve (SUSHI Reserve) through weekly regular purchases of SUSHI, and allocating the remaining protocol revenue to Sushi Ops for operations and growth.In addition, the proposal also plans to migrate part of the protocol liquidity deployment to the Robinhood Chain. Currently, the proposal is in the RFC (Request for Comments) stage, pending community discussion and governance voting.

Arthur Hayes posted on the X platform stating that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the USD/JPY exchange rate and restart the currency printing press. Arthur Hayes mentioned that the continuous weakening of the yen over the past decade has driven up global asset markets, but this situation will eventually come to an end. The yen is the lowest valued currency globally and is also a focal point of controversy among the two major powers, the United States and China, as well as ordinary Japanese voters.There are three ways to address the yen issue, but the U.S. Treasury and Japanese politicians only lean towards one of them. He will explain the operational mechanisms of each method for yen appreciation and why the last option is the preferred solution; he will also discuss how to politically implement the third option. He stated that as U.S. dollar liquidity rises significantly, Bitcoin and cryptocurrencies will increase.The three options include: 1. The Bank of Japan significantly raises interest rates, eliminating the interest rate differential between the dollar and the yen at least on the short end. 2. The government persuades domestic institutions and public entities like GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance hands over its U.S. Treasury holdings to the Federal Reserve through repurchase transactions in exchange for dollars; subsequently, it sells dollars in the foreign exchange market and buys yen.Arthur Hayes stated that before delving into details, speculators should consider why the discussion of yen appreciation is happening now. For decades, many have claimed that the yen was about to appreciate, leading to the unwinding of global carry trades. Two weeks ago, monetary policy officials from the U.S. and Japan conducted a joint currency manipulation action, merely referring to it as intervention. U.S. Treasury Secretary Buffalo Bill Bessent expressed a desire to raise the counterparty limit for the FIMA repurchase mechanism so that the Japanese Ministry of Finance could utilize its vast asset reserves to defend the yen. The Japanese Ministry of Finance also stated that it is closely cooperating with the U.S. to promote a decline in the USD/JPY exchange rate. Relevant officials are conveying to the market that they support changes in global currency relations, and thus the market must pay attention to this.

CryptoQuant analyst Darkfost stated that since May, the total market capitalization of stablecoins has lost nearly $15 billion, decreasing from about $280 billion to $266 billion.From October last year to May this year, the market capitalization remained stagnant, indicating that there has been no liquidity inflow or insufficient liquidity. Now, even though Bitcoin's price has stabilized, demand has not recovered, and this weakness hinders the rebound of Bitcoin's price. In contrast, the decline in the market capitalization of stablecoins indicates that liquidity in the crypto market is actually draining away.

According to Bifrost monitoring, hackers exploited vulnerabilities in liquidity pools to steal assets worth approximately $720,000 from the vDOT single currency pool and the vASTR/ASTR and vMANTA/MANTA pools. The related assets were subsequently deposited into HitBTC and eventually flowed into Binance.Bifrost has contacted the Binance security department to submit a fund freeze application and has reported to law enforcement along with an on-chain evidence package, including transaction tracking, wallet addresses, and timestamps. Currently, Bifrost has halted all liquidity mining rewards and is conducting a comprehensive security review.

Uniswap founder Hayden posted on the X platform stating that the technical design of automatic compounding liquidity is his personal contribution to pools.trade. The way it works is: liquidity positions are deposited into a smart contract, with the rule that anyone can withdraw all unclaimed fees from that position, provided they increase the size of that liquidity position by 0.2%. Therefore, the fees will grow over time, and when the value of the fees exceeds 0.2% of the liquidity, seekers will naturally be incentivized to add 0.2% liquidity to the pool and claim the fees. This mechanism is based on the Uniswap token jar and can also be used for automatic compounding of regular Uniswap LP positions, so this feature will be added to the roadmap.

According to official news, Uniswap has launched the token issuance platform Pools on the Robinhood Chain, supporting two token launch methods: Crowd Launch and Instant Launch. It features automatic compound liquidity, permanent locked liquidity, and anti-front-running mechanisms.Pools charges a 0.25% LP fee and compounds automatically. Creators can choose to take 0.05% of this, with the remainder compounding automatically. The launch platform fee is zero, only charging the Uniswap v4 standard protocol fee. Uniswap emphasizes that Pools is aimed at highly speculative volatile assets like meme coins, and Uniswap Labs does not review or endorse the tokens.

Bitget's latest data shows that the trading volume of rToken in July reached $1.153 billion, with a single-day highest transaction amount of $81.38 million and a single-day highest number of transactions at 127,691. Currently, the assets under management (AUM) of rToken have increased to $160 million.As trading activity increases, the demand for rToken trading during all time periods has further been released. Statistics indicate that about one-third of rToken transactions occur during the traditional U.S. stock market's off-hours, reflecting a strong demand for U.S. stock trading outside of regular trading hours, which also provides new growth opportunities for liquidity during non-trading hours.

CryptoQuant analyst Moreno stated that USDT liquidity is experiencing one of the most severe contraction phases in history. The market value of USDT has decreased by about 4 billion dollars over the past 60 days, approaching historically low levels. At the same time, the liquidity contraction is still accelerating, with the USDT supply decreasing by about 870 million dollars in the past 11 days, indicating that this is not merely a lagging effect caused by previous redemptions.Stablecoins are the most direct source of available liquidity in the crypto market, and the continuous expansion of USDT is usually accompanied by stronger price performance of BTC, while prolonged contraction phases often correspond to weak demand, market corrections, and declining risk appetite. However, the correlation between USDT flows and BTC prices does not prove a direct causal relationship; both may be influenced by risk-averse sentiment, with redemption pressure and spot selling occurring simultaneously. The current decline in BTC is not an isolated event but is happening against the backdrop of a continuous shrinkage of one of the main sources of market liquidity, which also explains why the recent rebound has been difficult to sustain. To improve the market environment, we need to see the 60-day change in USDT stabilize, daily supply contraction slow down, and re-enter an expansion phase.

According to DeFiLlama's latest "Tokenized Stock Research Report," tokenized stocks are becoming one of the fastest-growing sectors, with active market capitalization increasing from $814 million at the beginning of the year to $1.976 billion, a growth of over 140%. The report conducted a horizontal evaluation of the stock product architecture, market trading data, and liquidity performance of mainstream platforms such as Binance, Bitget, Kraken, Bybit, Hyperliquid, and Ondo Finance.Data shows that in the liquidity benchmark test for the five stock spot markets of MSTR, SPY, QQQ, CRCL, and NVDA, the median bid-ask spread of Bitget's stock token rToken is only 0.83 basis points, and it has the deepest market liquidity among all sample markets. In the execution benchmark test covering 36 stock perpetual contracts and 8 types of metal and commodity perpetual contracts, Bitget maintains a significant lead in depth on about 90% of trading pairs.DeFiLlama points out that as the tokenized stock market continues to mature, liquidity and trade execution quality are becoming key differentiating factors in platform competition. With lower trading costs and a deeper order book, Bitget provides a more efficient trading experience for institutional and retail users.

According to Jinshi reports, Evercore ISI stated that the long-term use of the Federal Reserve's foreign and international monetary authorities repurchase tool may prompt the market to test the determination of the United States and Japan to maintain the yen exchange rate. This tool allows overseas institutions to obtain dollars using U.S. Treasury bonds they hold as collateral, with a daily limit of $60 billion for each counterparty.Evercore strategists pointed out that this limit is only slightly higher than the scale Japan used for currency market intervention last Thursday, emphasizing that the tool is designed for short-term liquidity support rather than a lasting source of financing.

The 10-Q document submitted by 0G Treasury Company ZeroStack to the U.S. Securities and Exchange Commission (SEC) shows that as of June 30, the company had a cash balance of $2.6 million, a working capital of negative $600,000, a cumulative loss of $339.1 million, and confirmed a fair value loss of $82.5 million on digital assets, expecting a net loss of $61.3 million in the first half of 2026.The financial report indicates that as of June 30, ZeroStack held 75.1 million 0G (Zero Gravity) tokens, with a total cost of $163.3 million, but a fair value of only $15.2 million, representing a decrease of about 91% from the book cost. The company stated that its current operations mainly rely on 0G staking rewards and token sales, and its future financing ability will also depend on the price performance of 0G and market trading liquidity.Public information shows that ZeroStack is a publicly listed treasury company with 0G as its core reserve asset, and is not the official or development team of the 0G project. The company participates in the ecosystem through large-scale holdings and staking of 0G, and its operational status is highly correlated with the price trend of the 0G token.

According to Jinshi, the People's Bank of China held a work meeting for the second half of 2026, stating that it will continue to implement a moderately loose monetary policy. The meeting emphasized the comprehensive use of various monetary policy tools to maintain ample liquidity and support the effective financing needs of the real economy.By the end of June, the total social financing scale increased by 7.4% year-on-year, and the broad money supply increased by 8% year-on-year.