L-BTC Market Reopens with Uncertainty Over Redemption

The Liquid Bitcoin (L-BTC) market has reopened on SideSwap, but it's not yet clear if holders can recover their funds at par. According to the Blockstream explorer endpoint, there are currently 4,229 L-BTC outstanding and a reserve of approximately 3,601 BTC, covering about 85% of the supply.

SideSwap said its markets and swaps are open, but peg-ins and peg-outs through SideSwap remain closed. The Liquid Federation is continuing its security review to ensure the safety of the network.

The restart process for L-BTC has been a staged one, with block production resuming in a controlled mode without transactions. However, transaction availability still depends on the operating status published by Blockstream.

For now, trading gives L-BTC a price, but it doesn't necessarily mean that holders can recover their funds at par. The actual post-restart discount or premium remains unmeasured, and the distinction between trading and redemption is crucial in understanding the situation.