DeFi 行业趋势 - 早期通过广泛参与多个协议以期获得空投的策略已不再有效 [1] - 小型生态系统需要投入大量资金用于信息平台、KOL 营销、代币销售以及与“vault managers”的幕后交易以获取 TVL (总锁定价值) [2] - Monad 花费数百万美元进行空投贿赂，以维持 KOL 的积极评价 [2] - 在缺乏内幕信息的情况下，参与共识交易比参与小众 dApp 更安全 [2] - 注意力和流动性正流向 Plasma、MegaETH sale、$ZEC 以及 Lighter 和 edgeX 等顶级永续 DEX 和预测市场 [2][3] 策略转变 - 行业竞争的优势不再是参与更多的项目，而是更好地筛选项目 [3]

Liquidity & Market Dynamics - Government shutdown starting October 1st initiates a Treasury General Account (TGA) build of $150 billion to $965 billion, draining cash from the market [1] - Reverse Repo Program (RRP) builds by $20 billion this week, causing bank reserves to fall to "ample" lows, leading to tight funding markets [1] - Tight funding markets are indicated by increased Secured Overnight Financing Rate (SOFR) spreads and record $10 billion usage of the Standing Repo Facility (SRF) [1] - Bitcoin's choppy range is hypersensitive to liquidity, preventing a breakout [1] - Post-month end, RRP decreases will return liquidity, and a TGA drawdown in mid-November will flood the market with cash [1] - Quantitative Tightening (QT) ends December 1st, leading to Federal Reserve balance sheet expansion [2] Crypto Market Impact - A liquidity tailwind is expected after the end of QT [2] - Bitcoin is expected to pump upwards due to increased liquidity [2] - The broader crypto market is also expected to pump upwards [2]

Policy Change - Argentina loosened the share of reserve requirements for commercial banks [1] - The policy aims to gradually provide more liquidity [1] - The policy also aims to revive lending [1] Political Context - The policy change occurred after President Javier Milei's party won a crucial midterm election [1]

RT LondonCryptoClub (@LDNCryptoClub)It’s just month end putting the final squeeze on liquidityRelax everyone ...

Monetary Policy - The Federal Reserve decided to end its balance-sheet runoff after a drop in bank reserves [1] - Officials are focusing on the federal funds rate as the main tool for monetary policy [1] - The federal funds rate will also help assess liquidity in the financial system [1]

Argentina is planning to marginally loosen the share of reserve requirements that commercial banks must report daily, in a bid to gradually provide more liquidity and revive lending, according to a person familiar with the matter https://t.co/YfwignQ8Y8 ...

All Bitcoin liquidity is now stacked to the upside.Is a V-shape reversal coming next? https://t.co/5lzIt4o9tn ...

By Francisco Rodrigues (All times ET unless indicated otherwise) The crypto market is struggling to find stable ground after Federal Reserve Chair Jerome Powell, speaking after the central bank cut the interest rate by 25 basis points, suggested another reduction in December isn't guaranteed. Bitcoin (BTC) is down 2.5% over the last 24 hours to $110,200, while the broader market as measured by the CoinDesk 20 (CD20) index lost 1.7%. While Wednesday's reduction was expected, Powell's hesitancy about furt ...

megaeth auction closed with 8% choosing 12-month locks vs 92% taking unlocked tokens. 37,000 addresses want immediate liquidity at mainnet launch. when less people lock than icp's 8% disaster launch you're not buying an ecosystem, you're exit liquidity for auction winners who already told you they're selling. ...

The vibe? Cautious optimism.Liquidity is flowing, but conviction is thin.See how the community is reading the Fed move and drop your take inside CMC Topics🔗 https://t.co/Ln1UnsiD0J4/4 ...