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Crypto News Today (July 29): BTC Reclaims $64K Ahead of FOMC, 1inch Launches New DeFi Liquidity Layer, and Ionic Digital Shares Jump 25% on Nasdaq Debut
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In crypto news today (July 29), Bitcoin climbed +1% overnight, reclaiming $64,000 ahead of today’s FOMC meeting, in which a rate hike is rumored to be on the table. Liquidations have slowed from yesterday, sitting at just over $420M, down from $605M the day before, although the majority of those liquidations are still from long positions, $325M to be precise.
ETF flows have also continued their red streak; following an eight-day inflow streak, yesterday saw $49M in Bitcoin sold across various products, marking a fourth consecutive day of outflows totaling more than $500M, per CoinGlass data.
With the total crypto market cap up around 1% overnight, it has reclaimed $2.28 trillion. Daily trading volume across crypto sits at $61.9Bn, down from $66Bn yesterday.
The Fear & Greed Index is frozen at 29/100, unchanged from yesterday, within ‘Fear’ territory. This lack of movement reflects a market waiting for the results of today’s FOMC meeting before moving in either direction.
Crypto News Today: 1inch Launches Aqua Liquidity Layer Targeting Idle Funds
1inch has officially launched Aqua, a new liquidity layer for decentralized finance (DeFi). This system enables liquidity providers to use a single wallet balance to manage multiple trading positions simultaneously, without locking assets in liquidity pools.
The company stated that this approach enhances capital efficiency and addresses a significant limitation of traditional decentralized exchanges (DEXs): the presence of large amounts of idle liquidity. Aqua is now available across 13 EVM-compatible networks.
Aqua operates on a registry-based model. Users authorize the protocol to access a specified number of tokens, while the assets remain in their wallets and are transferred only when a trade is executed.
According to 1inch, this new architecture allows a single wallet balance to support multiple price quotes simultaneously, without relying on leverage. For instance, $100,000 in assets can back three separate positions with a total quoted liquidity of up to $300,000.
This is achievable because tokens are committed only when a swap is executed. The developers describe Aqua as one of the first risk-controlled liquidity systems that does not require providers to deposit assets into liquidity pools. If a wallet lacks sufficient funds to settle a trade, that liquidity provider is simply excluded from the transaction.
Ionic Digital Stock Surges +25% Following Nasdaq Debut
In other crypto news today, shares of Bitcoin miner and AI infrastructure operator Ionic Digital rose more than 25% on their first day of trading on Nasdaq. At their peak, the shares approached $63, giving the company a valuation of roughly $2.75Bn.
Source: finance.yahoo.com