# 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.

Wintermute Unveils the Flow of Off-Exchange Funds in a 28-Page Report

Wintermute's 2025 report on the crypto OTC market reveals a fundamental shift in liquidity dynamics. Market activity has become more concentrated, with capital flowing predominantly into a few large-cap tokens like BTC and ETH, driven by ETFs and Digital Asset Treasury (DAT) products. This has led to shorter, more selective altcoin rallies, with the average duration of narrative-driven surges dropping sharply from 61 days in 2024 to just 19 days in 2025. Memecoins failed to recover after Q1, and trading activity narrowed significantly. Institutional participation deepened, with OTC derivatives—especially options—showing strong growth as traders adopted more sophisticated, yield-generating strategies. However, retail attention diverted to AI and equity themes, reducing crypto's appeal as a primary risk asset. Liquidity is now channeled through structured vehicles like ETFs and DATs, which concentrate capital in top assets and limit spillover to the broader market. For a sustained 2026 recovery, Wintermute identifies three key catalysts: expansion of ETF/DAT coverage to more altcoins, a strong bullish breakout in major tokens to trigger wealth effects, or a significant return of retail interest to crypto. The market has moved away from predictable cycles toward a more fragmented, execution-driven environment.

marsbit01/14 07:34

Wintermute Unveils the Flow of Off-Exchange Funds in a 28-Page Report

marsbit01/14 07:34

Wintermute's 28-Page Report Unveils the Flow of Off-Exchange Funds

Wintermute's 28-page report on the 2025 crypto OTC market reveals a fundamental shift in liquidity dynamics. Capital is no longer broadly distributed but has become highly concentrated, leading to shorter, more execution-driven rallies and uneven performance across tokens. Key findings include: - Trading activity is concentrated in a few large-cap tokens like BTC and ETH, driven by the expansion of ETFs and Digital Asset Treasury (DAT) products. - Narrative-driven altcoin rallies faded twice as fast as in previous years, with an average duration of just 19 days in 2025. - Professional trading counterparties increased their influence, utilizing more cautious execution strategies, leveraged OTC products, and sophisticated options. - Capital inflow channels (ETFs, DATs, stablecoins) now significantly influence where liquidity accumulates, with most new capital directed toward blue-chip assets. The report notes that crypto has lost its status as the preferred risk asset for retail investors, who shifted focus to equity themes like AI. For a broader market recovery in 2026, Wintermute identifies three necessary conditions: further expansion of ETF/DAT investment mandates, a strong leading rally from major tokens to create a wealth effect, or a significant return of retail attention to crypto.

Odaily星球日报01/14 07:17

Wintermute's 28-Page Report Unveils the Flow of Off-Exchange Funds

Odaily星球日报01/14 07:17

How Wagyu Is Changing the Monero Narrative: One Tool Lifting Years of Price Suppression

Wagyu, a new exchange tool, is breaking years of price suppression on Monero (XMR) by addressing a critical flaw in its acquisition process. Since 2018, despite strong demand, XMR's price remained stagnant, primarily because major exchanges delisted it, forcing over 60% of users to rely on instant swap services. These offshore services charged exorbitant fees (effectively 3-4%) and often froze funds under "AML checks," creating constant sell pressure as they immediately converted XMR profits to stablecoins. This parasitic cycle drained an estimated $30,000-$100,000 daily from the market. Wagyu v2 routes orders to Hyperliquid, providing exchange-level pricing and near-zero fees, eliminating the need for exploitative swap services. By removing this sell pressure and allowing true price discovery, Wagyu has already processed millions in trades, contributing to XMR's recent breakout above $600. The tool is effectively saving Monero by connecting genuine demand directly to real market liquidity.

比推01/14 03:35

How Wagyu Is Changing the Monero Narrative: One Tool Lifting Years of Price Suppression

比推01/14 03:35

How ‘great divergence’ could flip XRP’s 11% drop into fresh upside

Ripple's XRP experienced an 11% weekly decline, making it the worst performer among top cryptocurrencies after a strong rally in early January. However, technical analysis suggests this drop may be a post-rally shakeout rather than a deeper correction. Notably, whale activity shows conviction, with 219 million XRP moved between wallets in a risk-management move rather than panic selling. This, combined with $22 million moved off exchanges and recent ETF inflows, creates a potential "supply shock" scenario. Traders identify a key support level around $2.10, suggesting the price drop could be a bear trap setting the stage for a new upward move.

ambcrypto01/14 02:03

How ‘great divergence’ could flip XRP’s 11% drop into fresh upside

ambcrypto01/14 02:03

Out Of Office, Into Crypto: Ex-NYC Mayor Debuts ‘NYC Token’ Memecoin

Former New York City Mayor Eric Adams launched the "NYC Token" memecoin on the Solana blockchain on January 12, 2026, promoting it as a tool to support education and combat antisemitism and anti-American sentiment. The token briefly reached an implied market cap between $580 million and $730 million before its price dropped by roughly 80%, falling from $0.46 to around $0.10. Critics raised concerns about insufficient transparency, missing documentation, and sudden liquidity withdrawals, which led to accusations of a potential rug pull. Adams, known for his pro-crypto stance as mayor, faced scrutiny for using his public profile to promote a privately issued token, while his successor declined to endorse the project.

bitcoinist01/14 00:01

Out Of Office, Into Crypto: Ex-NYC Mayor Debuts ‘NYC Token’ Memecoin

bitcoinist01/14 00:01

Ethereum stuck between staking strength and derivatives risk – What’s next?

Ethereum is caught in a market tug-of-war, with significant staking activity tightening supply while rising exchange reserves and derivatives risk create fragility. BitMine staked an additional $340 million in ETH, pushing total staked Ethereum toward a potential all-time high of 37.8 million. However, nearly $2.95 billion in short clusters remain at risk if ETH moves another 11%, and Binance's perpetual contracts show 70% long positioning. Analysts note that Open Interest is rebounding, indicating increased trader activity and potential for sharp moves. Despite staking strength, the buildup of long exposure without sufficient demand leaves ETH vulnerable to a bull trap rather than a clean breakout above $3k.

ambcrypto01/13 22:02

Ethereum stuck between staking strength and derivatives risk – What’s next?

ambcrypto01/13 22:02

Gold tops $4.6K as crypto enters macro week: Coincidence or early warning?

The crypto market enters a critical macro week dominated by debates over potential Federal Reserve rate cuts, with significant implications for digital assets. While some institutions like BlackRock project rate cuts as a bullish catalyst, others like JPMorgan hold a hawkish view. Against this backdrop, traditional safe-haven assets like Gold and Silver are hitting all-time highs, with Gold surpassing $4,630. This surge coincides with growing macroeconomic uncertainty, causing the Bitcoin/Gold ratio to drop to 20 from 35 earlier in the year, indicating underperformance in BTC. With rate cut odds falling to just 5%, mounting economic stress threatens to tighten liquidity for crypto assets. Gold’s breakout may serve as an early warning sign for risk assets like cryptocurrency as volatility increases.

ambcrypto01/13 19:02

Gold tops $4.6K as crypto enters macro week: Coincidence or early warning?

ambcrypto01/13 19:02

$6B exits Bitcoin ETFs, yet BTC holds KEY price range – Here’s how

Between October 2025 and January 2026, Bitcoin ETF outflows surged from $3 billion to nearly $6 billion, driven by profit-taking and panic selling after BTC fell below the ETF realized price near $86,000. Despite significant outflows, Bitcoin's price showed resilience, stabilizing between $85,000 and $90,000, indicating strong spot demand absorbed much of the selling pressure. Short-term holders faced losses with BTC price around $91.5k below their cost basis of $98k, leading to net selling. However, long-term holders remained stable. For a recovery, bulls must reclaim the $95,300 resistance level; failure could trigger a deeper correction toward $85,000.

ambcrypto01/13 18:02

$6B exits Bitcoin ETFs, yet BTC holds KEY price range – Here’s how

ambcrypto01/13 18:02

2026 Must-Read: Who Pays for the Bull Market

"Who Pays for the Bull Market in 2026?" by Dovey Wan of Primitive Ventures analyzes the structural shifts in Bitcoin's market dynamics post-ETF approval and institutional adoption. Despite regulatory tailwinds and mainstream integration, BTC underperformed traditional assets like gold and equities in 2025, with suppressed volatility due to Wall Street arbitrage and derivatives trading. Key insights include: - **Onshore vs. Offshore Divergence**: U.S. investors (via Coinbase) drove buying at highs, while offshore exchanges (e.g., Binance) saw selling pressure. - **Institutional Role**: Corporate buyers (e.g., MSTR) used NAV premium arbitrage to accumulate BTC, but ETFs are largely held by non-institutional investors, with hedge funds reducing exposure. - **Retail Absence**: Retail participation declined as wealth shifted to AI stocks and traditional markets, with crypto CEX traffic falling. - **Native Sellers Emerge**: Early BTC holders and miners sold significantly, with miners diverting resources to AI infrastructure. Bitcoin’s financialization ("paper BTC") introduces systemic fragility, tying its future to macro liquidity and DAT/ETF premiums. The 2026 outlook hinges on macro conditions and institutional proxy valuations, with potential risks from leverage unwinds. The article calls for genuine on-chain adoption to transform passive holdings into active utility, envisioning crypto as a global, supranational financial rail.

比推01/13 17:21

2026 Must-Read: Who Pays for the Bull Market

比推01/13 17:21

Explaining PUMP’s 5% gain amid $148.8M exchange transfer

Pump.fun's revenue has remained stable at approximately $1.59 billion, with network fees reaching $913 million, indicating strong platform usage. The project deposited an additional $148.48 million in stablecoins from its PUMP ICO sales into Kraken, continuing a pattern of large-scale treasury management. Despite these significant transfers, the PUMP token showed resilience, gaining 5.8% to trade at $0.0025. It found support at $0.0020 and exhibited rising bullish momentum, with increased trading volume and positive signals from momentum indicators like the RSI. If sentiment holds, PUMP may retest the $0.0027 resistance level.

ambcrypto01/13 15:31

Explaining PUMP’s 5% gain amid $148.8M exchange transfer

ambcrypto01/13 15:31

活动图片

Hot Categoriesright-arrow

Hot Tagsright-arrow

Regulatory Policy