# Сопутствующие статьи по теме Liquidity

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Liquidity", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Why Does the Automated Market Maker (AMM) Mechanism Fail in the Prediction Market Field?

The article explores why Automated Market Makers (AMMs), particularly the x*y=k model popularized by Uniswap, fail in prediction markets despite their success in decentralized finance (DeFi). AMMs excel in DeFi by enabling permissionless liquidity provision and continuous trading for tokens that fluctuate indefinitely. However, prediction markets involve binary outcomes where assets settle to either $1 or $0 at expiration. This structural difference causes inherent flaws: liquidity providers (LPs) inevitably suffer losses as pools automatically rebalance toward the losing side upon settlement—making "impermanent loss" permanent. Additionally, AMMs distort price discovery for probability-based markets due to slippage and low liquidity. Early prediction platforms like Polymarket and Augur experimented with AMMs but abandoned them for Central Limit Order Books (CLOBs), which better handle precise probabilistic pricing and binary settlements. The article concludes that while AMMs revolutionized token swaps, their mechanics are mismatched for prediction markets, requiring alternative infrastructure that accommodates binary outcomes and mandatory settlement.

marsbit04/14 13:18

Why Does the Automated Market Maker (AMM) Mechanism Fail in the Prediction Market Field?

marsbit04/14 13:18

Bitcoin Pulls Back To $71,000 As Profit-Takers Strike Again

Bitcoin has retraced to around $71,000 as on-chain data indicates a significant increase in profit-taking activity. According to Glassnode, the Bitcoin Realized Profit metric, which tracks the amount of profit investors are realizing, spiked multiple times recently, exceeding $20 million per hour during the rally. This selling pressure has contributed to Bitcoin's inability to sustain momentum above $73,000, reinforcing a pattern where approaches to the $70,000–$80,000 range face liquidity constraints and profit-taking. Additionally, 13.5 million addresses are currently at a loss, suggesting many investors bought at higher prices. If the pullback continues, this number could rise toward the 16 million mark seen earlier this year.

bitcoinist04/13 15:32

Bitcoin Pulls Back To $71,000 As Profit-Takers Strike Again

bitcoinist04/13 15:32

The End of the Public Chain 'Money-Splashing' Era

The article argues that the traditional L1 blockchain grant model for ecosystem funding is fundamentally broken, not just in need of minor adjustments. It claims that over the past four years, billions of dollars have been poured into grants from major L1s like NEAR, Avalanche, and Aptos, yet this has failed to produce lasting, breakthrough projects or sustainable ecosystems. Instead, it has created a cycle where teams optimize for grant applications and short-term KPIs rather than building viable products for real users. The model is criticized for fostering a "hostage" situation: foundations are trapped by their own metrics and feel compelled to disburse funds to show growth, while teams become dependent on grant cycles, shaping their roadmaps around fundable proposals rather than market needs. This leads to a proliferation of "zombie" projects that survive on grants but lack organic growth. The author contrasts this with direct equity and token investments, like those made by Solana Ventures, which create long-term, aligned partnerships. The piece concludes that the era of grants for cold-starting ecosystems is over. The future winners will be L1s that compete by attracting truly great companies through strategic investments and by being the best place to build, not the most generous grant committee.

marsbit04/13 14:14

The End of the Public Chain 'Money-Splashing' Era

marsbit04/13 14:14

Brother Sun "Rights Protection" Stands Up Against the Trump Family, WLFI Is the Real Scythe in the Crypto Circle

The article details the controversy surrounding World Liberty Financial (WLFI), a cryptocurrency project linked to the Trump family. It reports that WLFI allegedly used the DeFi lending protocol Dolomite, whose co-founder is also a WLFI advisor, as a disguised channel to sell tokens by collateralizing around 5 billion WLFI tokens to borrow approximately $75 million in stablecoins. Despite WLFI's claims that the loans were for ecosystem development and posed no liquidation risk, critics argue it was a way for insiders to cash out, shifting risk to retail investors. The piece highlights WLFI's significant price decline—over 66% since its September 2025 launch—and suggests the Trump family and insiders are the main source of selling pressure, as they control nearly 74% of the token supply. It also revisits WLFI’s prior move to blacklist 272 addresses, including those of investor Justin Sun, under the pretext of preventing large-scale sell-offs, which now appears to be an effort to reduce competition for their own sales. Sun publicly accused WLFI of exploiting users, freezing assets, and treating the crypto community as a "personal ATM." WLFI countered by threatening legal action. The author notes that while Sun’s criticism may gain sympathy, a legal battle in the U.S. against the well-connected Trump family would be risky for him. Finally, the article concludes that WLFI exemplifies how powerful elites can exploit crypto’s regulatory gray areas for profit, and urges the community to reject such projects driven more by political privilege than genuine decentralized finance ideals.

Odaily星球日报04/13 12:17

Brother Sun "Rights Protection" Stands Up Against the Trump Family, WLFI Is the Real Scythe in the Crypto Circle

Odaily星球日报04/13 12:17

Trump’s Crypto Venture Secretly Built A Way To Freeze Your Funds, Investor Claims

A major investor in World Liberty Financial (WLFI), a crypto project connected to Donald Trump, has accused it of secretly building a mechanism to freeze user funds. Tron founder Justin Sun, who invested over $100 million, claims the project has a backdoor in its smart contracts that allows the team to freeze, restrict, or block access to funds without warning. Sun revealed his own wallet was blacklisted in 2025. The allegations coincide with a separate controversy where WLFI used its own tokens as collateral to borrow millions. Blockchain analytics show WLFI deposited nearly 2 billion of its tokens into the Dolomite lending protocol to borrow over $31 million in stablecoins, accounting for 55% of Dolomite's liquidity. The project has reportedly used 5 billion self-issued tokens to obtain around $75 million in outside liquidity, a practice critics compare to circular financing. Amid the accusations, WLFI's token price has fallen more than 20% in a month, dropping below $0.08. A key lending pool is at 93% capacity, making withdrawals difficult. Sun has publicly demanded the project unlock all tokens and operate transparently. WLFI has not yet issued a formal response.

bitcoinist04/13 11:02

Trump’s Crypto Venture Secretly Built A Way To Freeze Your Funds, Investor Claims

bitcoinist04/13 11:02

Bitcoin Liquidity Rotation Turns Bullish Again As Stablecoin Shelter Starts To Unwind

Bitcoin's recent surge above $70,000 signals a potential shift in market dynamics, as on-chain data indicates capital is beginning to rotate out of stablecoins and back into Bitcoin. This movement, though still modest, suggests a reduction in the previously defensive investor posture. The Bitcoin realized cap—a measure of the market's aggregate cost basis—has improved from a steep negative of -$28.7 billion to around -$3 billion, while stablecoin market capitalization has declined. This shift coincides with significant inflows into US Spot Bitcoin ETFs, including a $471 million net inflow on April 6, and comes despite ongoing geopolitical tensions. If this trend continues, it may support further recovery in Bitcoin's price.

bitcoinist04/13 06:17

Bitcoin Liquidity Rotation Turns Bullish Again As Stablecoin Shelter Starts To Unwind

bitcoinist04/13 06:17

How Should Crypto VCs Survive? When Top Projects No Longer Need Institutional Funding

Cryptocurrency venture capital is at a watershed moment. Token exits, once the primary driver of outsized returns, are undergoing a major reset. The definition of token value is being rewritten in real-time, yet no standard valuation framework has emerged. Key market shifts include the rise of tokens with real, on-chain revenue (like HYPE), which exposed the weakness of governance tokens with no fundamentals; a supply shock from meme coins (e.g., PUMP) fragmenting liquidity; and competition from prediction markets, stock perps, and leveraged ETFs diverting retail speculative capital. This has compressed token lifecycles and cratered holding periods. VCs now face critical questions: Are they underwriting equity, tokens, or a hybrid? What is the best practice for on-chain value accrual beyond potentially toxic buybacks? Will the "crypto premium" vanish entirely, forcing valuations to align with public equities and crashing many Layer 1 tokens? The result is a divergence: early-stage investors are becoming more price-sensitive on token projects, while appetite for equity deals is growing. Later-stage crypto VCs are increasingly competing with traditional funds in "Web2.5" deals. To survive, crypto VCs must find their product-market fit with founders. Capital alone is no longer sufficient. Winning the best deals—from projects that may not even need institutional funding—requires providing unmatched brand value and non-capital advantages.

marsbit04/13 04:08

How Should Crypto VCs Survive? When Top Projects No Longer Need Institutional Funding

marsbit04/13 04:08

From Failing to Start a Hedge Fund Before the Financial Crisis to Managing Trillions in Assets: BlackRock's Global Fixed Income CIO Shares Investment Philosophy

Rick Rieder, BlackRock's Global Chief Investment Officer of Fixed Income, shared key investment principles on the "Hard Lessons" podcast. He helps oversee $2.7 trillion in assets and emphasized the importance of non-consensus thinking, rigorous research, and risk management. Rieder believes markets are often irrational and inefficient, creating opportunities for contrarian investors. He advocates for deep, independent analysis—especially in technology—where he looks for transformative potential and scalable business models. However, he stresses that being right only 60-70% of the time is sufficient if risks are well-managed. He highlighted painful lessons from past failures, including a hedge fund launch just before the 2008 financial crisis, which taught him to prioritize liquidity, avoid excessive leverage, and always plan exit strategies. For Rieder, managing position sizes and staying diversified are critical to surviving extreme market events. He also values assessing management quality when investing in companies, noting that leadership adaptability is crucial for long-term success.

marsbit04/12 08:36

From Failing to Start a Hedge Fund Before the Financial Crisis to Managing Trillions in Assets: BlackRock's Global Fixed Income CIO Shares Investment Philosophy

marsbit04/12 08:36

WLFI repays $25M in USDS, but token slides as market doubts persist

World Liberty Financial (WLFI) has repaid $25 million in USDS stablecoins over the past two days, responding to criticism over its borrowing practices. Despite this, its native token continues to decline, trading near $0.08—down over 7%—amid persistent market concerns. The project had previously borrowed over $75 million using its own tokens as collateral, raising fears over liquidity and potential bad debt. Although WLFI claims it is not near liquidation, investor confidence remains low. The token's RSI has fallen to around 25, indicating oversold conditions, but broader market uncertainty about its collateral strategy and risk management persists.

ambcrypto04/10 22:02

WLFI repays $25M in USDS, but token slides as market doubts persist

ambcrypto04/10 22:02

This Ripple-Ethereum Crossover Could Usher In A New Era Of Trading

Ripple has issued 9.9 million RLUSD on the Ethereum network, expanding its stablecoin presence across blockchains. This demand-driven issuance, managed through Ripple’s Treasury smart contracts, is backed 1:1 by US dollar reserves. The move follows a recent burn of over $230 million RLUSD, highlighting its responsive supply mechanism. RLUSD’s integration with Ethereum enables it to act as a bridge asset, facilitating liquidity between ecosystems and improving efficiency in decentralized finance and trading platforms. Its listing on Bitrue with tokenized gold pairs further extends its utility. This development supports faster, more connected, and adaptive cross-chain trading environments.

bitcoinist04/10 21:32

This Ripple-Ethereum Crossover Could Usher In A New Era Of Trading

bitcoinist04/10 21:32

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