# Liquidity Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Liquidity", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

$U Stablecoin Launches on BNB Сhain and Ethereum by United Stables

United Stables has launched $U, a new fully-backed stablecoin, on both BNB Smart Chain and Ethereum. The stablecoin is integrated with major DeFi protocols including PancakeSwap, Aster, Four.meme, and ListaDAO, and is supported by wallets such as Binance Wallet, SafePal, and Trust Wallet. It is also listed on HTX exchange. $U is backed 1:1 by a combination of cash and audited stablecoins like USDC and USDT. Reserves are held in segregated accounts, verified via on-chain Proof-of-Reserve, and undergo independent quarterly audits. Future features include confidential balances for organizations and support for AI-driven transactions through EIP-3009 and x402. Designed for trading, DeFi, institutional settlement, cross-border payments, and AI economies, $U aims to serve as a unified liquidity layer. The CEO of United Stables emphasized its role in the future of programmable money, while BNB Chain welcomed the launch for strengthening liquidity and supporting AI-native payments.

TheNewsCrypto12/18 12:20

$U Stablecoin Launches on BNB Сhain and Ethereum by United Stables

TheNewsCrypto12/18 12:20

Over 100 Crypto ETPs Launching Soon but Many Won’t Survive

The cryptocurrency investment landscape is set for significant transformation with over 100 new exchange-traded products (ETPs) expected to launch. However, industry analysts predict many will not survive beyond 2027 due to insufficient investor interest and low asset accumulation. Market saturation is a key concern, with 126 filings currently awaiting SEC approval. Historical data supports these sustainability worries, as 622 ETFs closed last year, with an average lifespan of 5.4 years for those shutting down in 2023. Recent regulatory changes have accelerated approvals but also enabled more speculative products, including memecoin-related ETFs. Performance varies widely; Bitcoin ETFs attracted $57.6 billion in early 2024, while newer offerings like Solana ETFs have seen slower growth. The market's ability to support hundreds of new products competing for limited investment remains uncertain.

TheNewsCrypto12/18 11:38

Over 100 Crypto ETPs Launching Soon but Many Won’t Survive

TheNewsCrypto12/18 11:38

Stop Focusing Only on Bitcoin—We Are Already in a Bear Market

The author argues that the crypto market has been in a bear market for about a year, despite many investors' reluctance to accept it. The peak of market euphoria occurred around November 2024, with the launch of $TRUMP marking the final exuberance. Two key misconceptions are highlighted: First, the meme coin frenzy was not a precursor to an "altseason"—it *was* the altseason itself. Unlike previous cycles with distinct new narratives and liquidity splits between "dumb money" and "hot money," this cycle lacked differentiation, keeping both groups in the same arena. Second, Bitcoin is no longer driven primarily by crypto-native cycles but by institutional and macro factors, meaning its price resilience doesn’t indicate an ongoing bull market. The bear market began after the $TRUMP peak, and the market has since gone through phases of anxiety, denial, panic, and now anger and depression. The author writes to encourage debate, correct flawed mental models, and signal a intention to begin accumulating near what they believe is the bottom.

marsbit12/18 09:36

Stop Focusing Only on Bitcoin—We Are Already in a Bear Market

marsbit12/18 09:36

Bitfinex Launches Zero-Fee Trading, Leveraging Long-Term Profitability to Accelerate Global Crypto Asset Adoption

Bitfinex, a leading global cryptocurrency exchange, has announced a major update to its fee structure, eliminating all trading fees for spot, margin, perpetual swaps, tokenized securities, and OTC trades for both makers and takers. The move is positioned as a long-term strategic shift, not a short-term promotion, and is made possible by the platform's sustained profitability and robust financial management since its founding in 2012. By removing fees, Bitfinex aims to set a new industry benchmark, improve market liquidity, and significantly lower the barrier to entry for users engaging with crypto assets. The exchange believes this will attract new users while rewarding existing ones, reinforcing its position as a cost-effective platform. With over 250 spot trading pairs and 60+ perpetual contracts, Bitfinex emphasizes its commitment to advancing financial freedom and accessibility through its mature technology and diverse business structure.

深潮12/18 09:25

Bitfinex Launches Zero-Fee Trading, Leveraging Long-Term Profitability to Accelerate Global Crypto Asset Adoption

深潮12/18 09:25

HTX Research Latest Report | Deciphering the Pre-Market Trading Ecosystem: How a Ten-Billion-Dollar Market is Reshaping the Starting Line of Web3 Assets?

HTX Research's latest report, "Pre-Market Trading Ecosystem: How a Ten-Billion-Dollar Market is Reshaping the Starting Line for Web3 Assets," analyzes the emergence of a "1.5-level market" bridging primary and secondary crypto markets. Driven by tightened funding and prolonged token generation event (TGE) cycles, this pre-market allows the trading of future token value, points, and convertible rights (like NFTs or whitelist spots) before official listing. Key structures include OTC trades, spot trading, and innovative pre-listing perpetual contracts, exemplified by HTX's launch for WLFI. While growing into a multi-billion-dollar sector, the pre-market faces challenges like thin liquidity and information asymmetry. The report concludes it is a structural shift, not a short-term trend, fundamentally altering project launches, exchange listing strategies, and early user participation.

深潮12/18 09:18

HTX Research Latest Report | Deciphering the Pre-Market Trading Ecosystem: How a Ten-Billion-Dollar Market is Reshaping the Starting Line of Web3 Assets?

深潮12/18 09:18

HTX Research's Latest Report Deciphers Pre-Market Trading Ecosystem: How a Hundred-Billion-Dollar Market Reshapes the Starting Line of Web3 Assets

HTX Research, the dedicated research arm of HTX, has released a new report titled "Pre-Market Trading Ecosystem: Mechanism Evolution, Market Structure, and Future Trends Behind a Ten-Billion Scale." The study systematically examines the formation, asset structures, and major models of the pre-market trading ecosystem in crypto, as well as its profound impact on project issuance and exchange systems. The report highlights the emergence of a "1.5-level market" that bridges primary and secondary markets, driven by tightened funding conditions and extended token generation event (TGE) timelines. This pre-market allows early contributions and future expectations to be transformed into tradable instruments. Three core asset structures form this ecosystem: pre-market OTC, spot, and perpetual contracts tied to future token value; tradable points systems linked to airdrop incentives; and NFT-based rights such as whitelist spots and early access passes. Together, these create a multi-layered pre-trading system. HTX has actively explored this space, launching pre-market perpetual contracts for assets like WLFI before their official listings. While pre-market has reached a multi-billion dollar scale with strong growth potential, it also faces challenges including thin liquidity, information asymmetry, and a lack of standardized regulations. Ultimately, pre-market trading is evolving from a grey-area activity into a structured, institutionalized market layer that is reshaping project launches, exchange strategies, and early user participation in crypto.

marsbit12/18 08:57

HTX Research's Latest Report Deciphers Pre-Market Trading Ecosystem: How a Hundred-Billion-Dollar Market Reshapes the Starting Line of Web3 Assets

marsbit12/18 08:57

Year-End Critical Moment: What the FOMC Decision Means for the Crypto Market

Amid a critical year-end period, Bitcoin hovers around $90,000 with the crypto fear and greed index hitting 25 (extreme fear). The December FOMC meeting delivered an expected 25-basis-point rate cut but adopted a hawkish tone, projecting only one more cut in 2026, causing a brief dip below $90k. However, the Fed also initiated a Reserve Management Purchase (RMP) plan, injecting $40 billion monthly in Treasury liquidity—a form of "stealth QE" that may reshape 2026 market dynamics. On-chain data shows significant capitulation among short-term holders, with realized losses near historic highs, while exchange reserves decline sharply, suggesting accumulation by long-term investors. Seasonal patterns like the "Christmas low-Lunar New Year rally" and increasing institutional adoption—shifting from pure Bitcoin exposure to ETH, altcoins, and tokenized assets—support a potential rebound. Despite short-term volatility and macro uncertainty, indicators like MVRV Z-Score and RHODL Ratio signal a buying opportunity. The convergence of cyclical patterns, improving liquidity, and structural institutional participation frames the current pullback as a mid-cycle adjustment rather than a bear market, offering a strategic entry point for 2026 positioning.

比推12/18 08:24

Year-End Critical Moment: What the FOMC Decision Means for the Crypto Market

比推12/18 08:24

Crypto Market Macro Report: Liquidity Repricing Amid Fed Rate Cuts, BOJ Rate Hikes, and the Christmas Holiday

The Federal Reserve's anticipated 25-basis-point rate cut on December 11 did not signal a shift toward monetary easing. Instead, the Fed's hawkish forward guidance—indicating fewer future cuts and internal dissent among policymakers—suggested constrained future policy flexibility. This led to a "sell the news" reaction, with risk assets like U.S. equities and cryptocurrencies declining as markets repriced expectations for liquidity. Simultaneously, the Bank of Japan is expected to raise rates to 0.75% on December 19, a move that threatens the long-standing yen carry trade. Higher Japanese rates could trigger unwinding of global leveraged positions, causing broad-based selling in risk assets, including crypto, due to increased funding costs and currency risk. These events coincide with the Christmas holiday period, when reduced liquidity amplifies market volatility. The convergence of tighter Fed expectations, BOJ tightening, and seasonal illiquidity creates a fragile environment for crypto, prompting a recalibration of risk rather than a trend reversal. Investors should prioritize risk management amid heightened macro uncertainty.

marsbit12/18 08:12

Crypto Market Macro Report: Liquidity Repricing Amid Fed Rate Cuts, BOJ Rate Hikes, and the Christmas Holiday

marsbit12/18 08:12

2025 Year-End Final Exam: Crypto Asset Allocation Guide After the FOMC Decision

Crypto markets face a critical juncture in late 2025. Bitcoin hovers near $90,000, with the Fear & Greed Index at 25 (Extreme Fear) and short-term holder capitulation at historic highs. The December FOMC meeting delivered an expected 25bps rate cut but adopted a hawkish tone, projecting only one more cut in 2026, causing a brief BTC sell-off. However, the Fed also initiated a $40B/month Reserve Management Purchases (RMP) plan, a form of "stealth QE" injecting liquidity. Key themes emerge: - **Macro Impact**: Hawkish guidance creates short-term pressure, but ending QT and launching RMP set the stage for a 2026 liquidity surge, historically bullish for crypto. - **Institutional Shift**: 2025 marked a pivot to institutional dominance. While BTC remains core, portfolios are diversifying into ETH, Solana, stablecoins, and tokenized real-world assets (RWA). Pension and sovereign wealth funds are increasing exposure. - **Historical Pattern & On-Chain Data**: A potential "Santa Low-Chinese New Year Rally" pattern is anticipated due to seasonal liquidity shifts. On-chain metrics signal a likely bottom: massive STH capitulation, declining exchange reserves, and valuation indicators (MVRV Z-Score, Puell Multiple) in historic buy zones. The confluence of extreme fear, strong underlying accumulation signals, and impending macro liquidity shifts presents a strategic entry point for long-term investors, framing the current pullback as a mid-cycle correction within a broader upward trend.

marsbit12/18 07:13

2025 Year-End Final Exam: Crypto Asset Allocation Guide After the FOMC Decision

marsbit12/18 07:13

Why Does Hyperliquid Earn Less Than Coinbase?

Hyperliquid, a decentralized exchange, processes near-Nasdaq-level perpetual trading volumes but captures significantly lower fees compared to centralized platforms like Coinbase and Robinhood. While Hyperliquid cleared $205.6 billion in notional volume over 30 days, it generated only $80.3 million in fees—an effective take rate of ~3.9 bps. In contrast, Coinbase and Robinhood achieve take rates of ~35.5 bps and ~33.5 bps, respectively, by operating as retail brokers that monetize multiple layers: distribution, balances, subscriptions, and order flow. This gap stems from a structural difference: Hyperliquid positions itself as a low-fee *market layer* (like Nasdaq), providing high-throughput execution and清算 infrastructure, while brokers like Coinbase control user relationships and extract value through higher-margin activities. Hyperliquid’s model includes permissionless distributor frontends (Builder Codes) and product deployment (HIP-3), which drive ecosystem growth but also create long-term fee compression risks by outsourcing high-value distribution. To defend its economics, Hyperliquid is taking steps to retain distribution control, integrate HIP-3 markets natively, and introduce balance-driven revenue streams like USDH (a native stablecoin with 50% reserve收益 sharing) and portfolio margin (10% interest fee on borrows). These moves aim to shift its model from pure exchange-level execution toward a hybrid approach that captures broker-like profit pools—without sacrificing its core infrastructure advantages. The key challenge remains balancing open ecosystem growth with tighter economic integration to avoid being commoditized as a wholesale execution venue.

marsbit12/18 07:03

Why Does Hyperliquid Earn Less Than Coinbase?