Trending Tokens on BTSE:
(as of 10:30 AM Singapore Time, August 7, 2023)
As Asia begins its business week, Bitcoin (BTC) and Ethereum (ETH) show remarkable stability around the $30,000 and $1,800 marks. This stability is widely regarded as a beacon of confidence for investors and market participants, signifying a mature market response to ongoing fluctuations.
DeFi continues to be both a promising frontier and a challenging landscape. While the recent $1.85 million bounty offered by Curve for identifying its exploiter illustrates the industry’s complex security landscape and a community-driven effort toward self-regulation, the attacker’s audacious confidence and partial return of stolen funds also expose the nuanced ethical dilemmas and the intricacy of malicious actors within the space.
On the supply side, the crypto landscape reflects bullish confidence, with the liquid and highly liquid Bitcoin supply at its lowest since 2018 and illiquid supply at an all-time high, according to a report by Blockware Intelligence. The creation of new addresses and a rise in on-chain demand also signals a growing interest, reminiscent of recovery patterns from past bear markets. However, recent low trading volumes and suppressed volatility may foreshadow a sudden and sharp spike in volatility, potentially triggered by factors such as ETF filings, legal issues, or structural market pressures.
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