Liquid reserve gap falls to 250 BTC following 300 BTC deposit
Estimated backing for L-BTC reached 94.14 percent following the top-up, but direct peg-outs remain paused until full reserves are restored.
Key takeaways
- 1Liquid Network reserve gap reduced to 250 BTC after a 300 BTC deposit on 2 November
- 2L-BTC estimated reserve backing reached 94.14 percent following the transfer
- 3Direct peg-outs remain suspended until 100 percent reserve backing is restored
Liquid Network reduced its liquid reserve shortfall to 250 Bitcoin (BTC) on 2 November after completing a fresh 300 BTC top-up deposit. The transfer moves the Bitcoin sidechain significantly closer to restoring full collateral backing for its wrapped asset, Liquid Bitcoin (L-BTC).
According to a report by The Defiant, estimated backing for L-BTC climbed to 94.14 percent following the arrival of the new funds. Despite the reserve increase, the governing federation's recovery plan strictly mandates complete reserve coverage before direct peg-out transactions can officially resume for users.
The deposit follows a test transfer on 27 October that previously narrowed the reserve gap down to 600 BTC, as reported earlier by YourKhabri. Samson Mow stated after that initial transaction that the remaining capital would arrive in the coming days. Liquid functions as an enterprise Bitcoin sidechain, while native Bitcoin traded around $77,025 on 2 November with a market capitalization of $1,548.6 billion.
The steady reduction of the gap suggests that the network recovery process is advancing as planned. However, L-BTC holders remain unable to perform direct peg-outs until the final 250 BTC shortfall is resolved. Network participants will closely watch for the final deposit required to reach 100 percent backing and re-enable direct redemptions.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.