Crypto data provider Kaiko released a new research report this morning, noting that oversupply has been a hot topic in the crypto market this summer. Reports show that the Mt. Gox bankruptcy still has about 46,000 bitcoins (worth more than $2 billion) to be distributed to creditors, which could be a major source of market concern. In addition, the holdings of bitcoin by governments such as the United States, the United Kingdom, and China, as well as the holdings of institutions such as Tesla, could also generate potential selling pressure in the coming months. Kaiko believes that it is difficult to fully assess market liquidity by relying on a single indicator such as trading volume. The report recommends combining multi-dimensional indicators such as market depth, volume and liquidity ratio, and slippage. The study found that during the crypto market crash in early August, there were significant changes in exchange slippage indicators, reflecting increased market pressure. Kaiko said that while crypto market liquidity has improved since the FTX crash, the possible impact of liquidating large positions still needs to be viewed with caution.