A beginner’s guide to liquidity pools

The protocol's governance vote closes on Friday, with early tallies leaning toward approval.

Why it matters

Regulators have asked exchanges for comment by the end of the month.

This report is updated as markets move.

What happens next

On-chain data shows long-term holders have not moved coins in months.

• Open interest on major exchanges rose sharply, suggesting leveraged positioning is building again.
• "Liquidity is thin above the highs; expect sharp moves either way," one trader said.

The move came as spot ETF inflows hit a six-week high, according to fund data compiled overnight.