News linked to both this project and an event.
According to the Aave Governance Forum, Gordon Liao, a Circle team member, has submitted an ARFC proposal recommending a two-step adjustment to the USDC interest rate model parameters on Aave v3 Ethereum Core to address the current liquidity shortage in the USDC pool. Current context: Following the rsETH incident on April 18, the USDC pool utilization has remained persistently near 100%, with available liquidity falling below $3 million. The borrowing rate has been stuck at the 14% cap for an extended period, and the pool’s total supply has contracted by approximately $60 million over the past 24 hours. As a result, the market is unable to clear via price mechanisms. The proposal’s core measures are as follows: Step 1 (to be executed immediately by Risk Administrators): Increase Slope 2 from 10% to 40%, decrease the optimal utilization rate from 92% to 87%, and temporarily suspend the Slope 2 risk oracle for USDC. Step 2 (to be completed within 5–7 days via governance vote): Further increase Slope 2 to 50% and reduce the optimal utilization rate to 85%. The proposal argues that many current borrowers are insensitive to interest rates and primarily borrow to bypass withdrawal queues and exit positions. Active leverage, meanwhile, is key to attracting new suppliers. Raising the maximum supply rate to the 40%–50% range is expected to draw in USDC liquidity within hours, driving utilization below the kink point and restoring the market’s normal clearing functionality.
Odaily News Arkham posted on the X platform, stating that it has identified the on-chain wallet address of Morgan Stanley's spot Bitcoin exchange-traded fund, the Morgan Stanley Bitcoin Trust (MSBT), becoming the first platform to publicly identify the on-chain BTC holdings of this ETF, enabling users to track fund inflows and outflows in real-time.It is reported that the Morgan Stanley Bitcoin ETF was listed on NYSE Arca on April 8, with Coinbase and BNY Mellon serving as custodians. According to Arkham tracking data, it currently holds 1,348 BTC, valued at approximately $103.92 million.
Crypto analyst Ali published a detailed analysis on X, arguing that rather than debating whether Bitcoin has hit its bottom, market participants should focus on whether the current volatility represents a “generation-defining entry opportunity.” Based on long-term trend lines, on-chain liquidity, and cost distribution metrics, Ali delineates the core “value range” for this cycle. On the support side, the UTXO Realized Price Distribution (URPD) shows a significant concentration of coins in the $63,111–$70,685 range, forming the current primary support zone; if price breaks below $63,111, the market may enter a liquidity vacuum. From a long-term perspective, Bitcoin is approaching the key upward trend line from the past decade (approximately $56,000–$60,000), a level historically associated with accumulation phases preceding major rallies.