Home » 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

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

by Brandon Duncan
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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.

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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.

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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.

According to reports, Ionic went public on Tuesday through a direct listing under the ticker IOND. Trading opened at $50, compared with a reference price of $53.

Ionic Digital’s history is tied to the collapse of crypto lender Celsius Network in 2022. The company was formed in January 2024 to acquire nearly all of Celsius Mining’s assets as part of the bankruptcy and restructuring process.

Ionic received Celsius’ mining equipment and infrastructure, about $195M in cash, and 540 BTC. At the time of the deal, the Bitcoin holdings were worth approximately $35M.

Ionic’s mining facilities were initially managed by Hut 8 under a four-year agreement. However, less than a year later, Ionic terminated the contract and took direct control of the sites. Hut 8 retained a minority stake in the company.

The post 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 appeared first on 99Bitcoins.





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