L-BTC Market Reopens as Peg-Outs Remain Suspended
Liquid's L-BTC trading resumed on September 10th after being closed due to a security incident. According to a Blockstream explorer endpoint, there are currently 4,229 L-BTC outstanding and a federation reserve of 3,601 BTC, covering about 85% of the supply.
The split between Liquid Bitcoin and regular Bitcoin has given L-BTC a market price, although it's unclear if this is an accurate representation of its true value. The peg-out process, which converts L-BTC into BTC, remains suspended, leaving holders without a clear exit strategy.
Sidewap, the trading venue and wallet responsible for handling L-BTC trades, has reopened its markets, but new peg-ins and peg-outs through Sidewap remain closed. The Liquid Federation continues to review the security of the network and peg process.