Dubaiâs Ruler Praises Digital-Assets Economy, Boasts $680M Trading Milestone
Dubaiâs Ruler Praises Digital-Assets Economy, Boasts $680M Trading Milestone
His Highness Sheikh Mohammed bin Rashid Al Maktoum, prime minister of the United Arab Emirates and ruler of Dubai, said that with the establishment of VARA âa completely new economic sector has been added to our national economy in just three years.â Dubai Rises as Worldâs Largest Virtual Assets Markets Registering Billions in Trading Volumes [âŠ]
Welcome to CoinFeedPro
Latest crypto news from key platforms. All in one place.
Todays Sentiment
Bullish
Latest news
Grayscaleâs SEC Trust Filing Sends Bittensor (TAO) Flying 33%: $500 Target Incoming?
Bittensor (TAO) ripped as much as 33% after Grayscale filed a Form 10 with the U.S. Securities and Exchange Commission for the Grayscale Bittensor Trust. Related Reading: Fridayâs Crypto Crash: The Viral Theory Behind What Really Happened If the filing becomes effective, the trust would begin reporting like a public company (10-K/10-Q with audited financials), [âŠ]
- NEWSBTC
XRP Could Swing To $1.19 Or $20 After Order-Book Collapse, Analyst Warns
In the chaotic aftermath of last weekâs market-wide wipeout, one granular forensic stands out: order-book depth on major venues thinned to âair,â letting relatively modest market orders rip through price levels with almost no resistance. The phenomenon, captured by independent market analyst Dom (@traderview2) on X, is now central to a stark takeaway for XRP: under the same microstructure conditions, price can mechanically gap as easily to $1.19 as to $20. It is not a forecast; itâs a statement about how quotes, liquidity, and matching engines behave under stress. XRP Price May Gap To $1.19 Or $20 Domâs post reconstructing the XRP leg of the move uses Binance Futuresâ order-book depth to illustrate the dynamic. âXRP orderbook depth on Binance Futures during the crash. Prime example of âliquidity evaporationâ,â he wrote, noting that for more than two hours pre-cascade, there was roughly â$50â60M in liquidity within 5% of price on both sides. Stable, deep book.â The hour everything broke was different. âLook closely right before 21:00 during that first leg down, nearly 20M USD market sold (shorts entering/longs liquidated). Bid side (blue) goes from $50M to near zero⊠At this point, XRP is near $2.50 while all liquidity under it is basically gone, air.â Minutes later, with âmore sells⊠trickling into a basically air pocketed book,â price slid from â$2.50 to $1.19. Nobody replenished the book. MMs either pulled or just walked away to protect. These markets really are more fragile than most think,â he wrote. Related Reading: XRP About To Stage A Repeat Of 2017? Hereâs What Happened Last Time There Was A Flash Crash The same thread and follow-ups widened the lens to cross-venue behavior. Dom highlighted a striking divergence on the Dogecoin tape: âDOGE nuked to $0.09 on Binance, OKX, Bybit and Kraken⊠Coinbase was trading over 40% higher. Their market makers were either running a completely different playbook or protecting the books. That divergence wasnât random and someone kept the floor intact.â The implication is not that aggressive buyers or sellers âcontrolled the move,â but that quote providersâmarket-making algorithms with the discretion to pull or reprice quotesâdictated where executable liquidity actually existed as prices gapped. Related Reading: Is The XRP Bottom In? Pundit Claims âSellers Are Exhaustedâ That framing also addresses a common post-mortem question from traders staring at cumulative volume delta (CVD) prints that went vertical even as prices fell: net buy pressure can rise while price still drops if the best offers are yanked and re-quoted lower in milliseconds, forcing buyers to chase a descending ask. As Dom put it in a separate explainer on DOGE, âLiquidity was pulled and repriced lower in milliseconds, over and over again. Doesnât matter how much you buy. The closest ask keeps sliding down faster than you can hit it⊠Price doesnât fall because of âsellingââit falls because the ground itself keeps disappearing. [âŠ] My analysis so far supports the case this was happening with many coinsâŠâ The logic is symmetric: when quote liquidity vanishes above price, upside gaps can be as mechanically abrupt as downside air-pocketsâhence Domâs answer to whether a $2 to $10 or even $20 spike could happen âon the way upâ: âTechnically speaking, yes.â At press time, XRP traded at $2.46. Featured image created with DALL.E, chart from TradingView.com
Bitcoin Mining Hardware Maker Canaan Launches Gas-to-Computing Pilot in Calgary
Canaan Inc. announced the launch of a gas-to-computing pilot in Calgary, Alberta, that converts wellhead natural gas into low-cost power for high-density computing â a neat way to turn waste into watts. Canaan Pilots Containerized Data Modules at Canadian Wellheads Canaanâs initiative operates through a joint mining agreement with Calgary-based Aurora AZ Energy Ltd., which [âŠ]