Bullish Pennant Ignites XRP Rally to $5 — U.S. Blockchain Push Could Boost XRP Ledger

Bullish Pennant Pattern Could Propel XRP to $5 Cryptocurrency enthusiasts are turning their attention to XRP after renowned market analyst Maxi predicted that a bullish pennant pattern could drive the token to the $5 mark. A bullish pennant forms after a sharp price rally, followed by a brief consolidation in a tight symmetrical triangle, often signaling a continuation of the upward trend. XRP’s recent surge, according to Maxi, sets the stage for this classic breakout pattern. The analyst highlighted that XRP’s trading volume and recent price action fit the classic characteristics of a bullish pennant. The initial surge, known as the flagpole, has been accompanied by high buying pressure, while the consolidation phase shows diminishing selling pressure, both indicators of potential upward momentum. The broader market environment further supports this optimistic outlook. For instance, XRP is witnessing low speculative bias and price stability with funding rates having dropped to nearly zero. Furthermore, XRP needs to flip the $3.10 zone for a sustained bullish outlook. At the time of this writing, XRP was trading at $3, according to CoinGecko data . How the XRP Ledger Stands to Benefit from the U.S. Commerce Blockchain Initiative In a significant move towards blockchain integration, U.S. Commerce Secretary Howard Lutnick announced that the Department of Commerce will begin publishing official economic statistics, including Gross Domestic Product (GDP) data, on the blockchain. This initiative, unveiled during a White House cabinet meeting, aims to enhance transparency and accessibility in federal data distribution. The XRPL, known for its high throughput, low transaction costs, and energy-efficient consensus mechanism, is uniquely positioned to support such governmental data initiatives. Unlike energy-intensive proof-of-work blockchains, XRPL's consensus mechanism aligns with institutional demands for sustainability and cost efficiency. By leveraging XRPL's capabilities, the U.S. government can ensure that economic data is disseminated in a secure, tamper-proof, and easily accessible manner. This move not only underscores the government's commitment to embracing blockchain technology but also sets a precedent for other nations to follow suit. As the initiative advances, XRPL is poised to play a larger role in governmental data distribution, potentially setting new global benchmarks for blockchain-powered transparency. Conclusion The U.S. Department of Commerce’s move to publish official statistics on the blockchain is a transformative step toward transparency, efficiency, and trust in public data. By leveraging the XRP Ledger’s scalable, secure, and energy-efficient infrastructure, this initiative might underscore the XRPL’s viability for large-scale government use and positions it as a leader in the next wave of institutional blockchain adoption. On the other hand, XRP is at a critical juncture, with a bullish pennant signaling a potential breakout. A successful move above consolidation could propel the token toward Maxi’s $5 target, driven by strong buying momentum and rising institutional interest.

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Origin Summit Debuts in Seoul during KBW as Flagship Gathering on IP, AI, and the Next Era of Blockchain-enabled Real-World Assets

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Bybit EU Adopts Nasdaq’s Market Surveillance Platform to Reinforce Compliance with MiCAR

BitcoinWorld Bybit EU Adopts Nasdaq’s Market Surveillance Platform to Reinforce Compliance with MiCAR Institutional-grade technology will enhance the integrity of the world’s second-largest cryptocurrency exchange Surveillance platform combines advanced pattern analytics with comprehensive market data to meet MiCAR obligations DUBAI, UAE, Aug. 28, 2025 /PRNewswire/ — Bybit, the second-largest cryptocurrency exchange by trading volume in the world, today announced it has adopted Nasdaq’s Market Surveillance platform to reinforce the company’s ability to prevent and detect market abuse across its European markets. Operating under the company’s Bybit EU entity, the technology helps ensure ongoing compliance with the EU’s Markets in Crypto-Assets Regulation (MiCAR), which compels digital asset exchanges to implement rigorous surveillance and reporting requirements. The modular and flexible architecture of Nasdaq’s surveillance platform will support Bybit EU’s ongoing expansion, enabling rapid compliance with local regulatory obligations. “This agreement demonstrates our commitment to providing secure, transparent, and fully compliant digital asset trading as we continue to grow our business,” said Mazurka Zeng, Managing Director and CEO of Bybit EU . “We welcome the opportunity to partner with Nasdaq, whose innovative technology and unparalleled surveillance expertise, help safeguard the resilience and integrity of our marketplace.” “MiCAR is driving a step change in investor protection across digital asset markets, but many compliance programs are still failing to match the level of investor protection offered by traditional markets,” added Ed Probst, Head of Regulatory Technology at Nasdaq. “We welcome the opportunity to partner with Bybit EU, who recognize the benefits of incorporating comprehensive market data into its surveillance framework to protect against critical threat scenarios. We look forward to building on this relationship and remain committed to advancing trust and resilience across the digital asset ecosystem.” Building trust in digital markets Nasdaq Market Surveillance is the most widely used market surveillance technology globally, serving over 50 exchanges and 20 international regulators, helping to maintain the integrity of marketplaces around the world. The platform incorporates tailored features and alerts for crypto markets alongside sophisticated algorithms developed over 30 years of experience. It also benefits from Nasdaq’s ongoing investment in both R&D and the underlying technology infrastructure to define industry best practice and maintain compliance with evolving global regulations. The platform offers access to comprehensive order book data to support real-time decision-making, which is emerging as a critical frontier to prevent and detect market abuse in crypto markets. While certain behavioral indicators can signal potential manipulation, prevention requires exchanges to combine pattern-recognition algorithms with comprehensive market data, overlaid with alerts tailored to specific mechanics of each market. It helps significantly reduce false positives and detect cross-market manipulation, timing-based violations, layering & spoofing, liquidity exploitation and currency & commodity manipulation. Additional functionality includes: Real-time, 24/7 monitoring of over 60 billion crypto transactions per day Integrated control framework with data quality reporting, audit, and case management Ability to monitor currency pairs trading and fractional volumes trading Availability of all historical market data including full-depth order book visual replay and reconstruction SaaS-deployed to enable regular product upgrades and enhancements Around the world, Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,800+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com . About Bybit EU Bybit EU GmbH is the newly established European entity, dedicated to serving clients across the European Economic Area (EEA”*” except Malta) via the Bybit.eu platform. Operated by Bybit EU GmbH, a licensed Crypto-Asset Service Provider (CASP) under the Markets in Crypto-Assets Regulation (MiCAR), Bybit EU delivers fully regulated services, including crypto custody, exchange, and rewards products and more, in full compliance with European regulations for investor protection and market integrity. Bybit EU GmbH is a licensed Crypto-Asset-Service Provider under the Markets in Crypto Assets Regulation (MiCAR), authorized to offer the following services to residents of the European Economic Area (except Malta): providing custody and administration of crypto-assets on behalf of clients; exchange of crypto-assets for funds; exchange of crypto-assets for other crypto-assets; placing of crypto-assets; and providing transfer services for crypto-assets on behalf of clients. Bybit EU GmbH is neither the operator of a trading platform for crypto-assets nor provides investment advice. www.bybit.eu Cautionary Note Regarding Forward-Looking Statements: Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will,” “enable” and “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s Market Surveillance technology solution. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov . Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. This post Bybit EU Adopts Nasdaq’s Market Surveillance Platform to Reinforce Compliance with MiCAR first appeared on BitcoinWorld and is written by chainwire

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Newcastle United Announce Multi-year Partnership With BYDFi

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VanEck CEO Says Banks May Need Blockchain in 12 Months as Ethereum Could Emerge as Stablecoin Hub

VanEck CEO Jan van Eck says banks must adopt a blockchain to handle stablecoin transfers within 12 months, and he expects Ethereum or Ethereum-style platforms to become the dominant stablecoin

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BTC Perpetual Futures: Unveiling Crucial Trader Sentiment Across Top Exchanges

BitcoinWorld BTC Perpetual Futures: Unveiling Crucial Trader Sentiment Across Top Exchanges Are you wondering about the current pulse of the crypto market? Understanding the collective sentiment of traders is crucial, especially when it comes to volatile assets like Bitcoin. Today, we’re diving deep into the fascinating world of BTC perpetual futures , specifically examining the long/short ratio across the industry’s leading exchanges. This metric offers a powerful glimpse into whether traders are leaning towards price increases (longs) or decreases (shorts). What Do BTC Perpetual Futures Ratios Tell Us Overall? The BTC perpetual futures market is a dynamic environment where traders speculate on Bitcoin’s future price without an expiry date. The long/short ratio is a key indicator that reveals the prevailing sentiment. When more traders are “long,” they expect the price to rise; when more are “short,” they anticipate a fall. Analyzing this ratio helps us gauge market confidence and potential price movements. Looking at the combined data from the top three crypto futures exchanges by open interest over the last 24 hours, the overall sentiment regarding BTC perpetual futures shows a finely balanced market. The aggregated long/short position ratio stands at: Overall: Long 49.77%, Short 50.23% This nearly 50/50 split suggests a moment of indecision or perhaps a cautious equilibrium among traders. It indicates that neither bulls nor bears have a dominant edge across the board right now. Such balanced sentiment can often precede significant price moves as the market seeks a clearer direction. It’s a snapshot of the intense tug-of-war happening behind the scenes in the BTC perpetual futures space. How Do Top Exchanges’ BTC Perpetual Futures Positions Differ? While the overall picture offers a general idea, drilling down into individual exchanges provides more nuanced insights into BTC perpetual futures sentiment. Different platforms often attract varying types of traders, which can lead to distinct long/short distributions. Let’s explore the specifics from Binance, Bybit, and Gate.io, the heavyweights in the crypto futures arena. Binance: A Slight Bullish Edge in BTC Perpetual Futures? Binance, a giant in the crypto space, often sets trends. Their BTC perpetual futures data shows a slightly different story compared to the overall average: Binance: Long 50.69%, Short 49.31% On Binance, a marginal majority of traders are holding long positions. This suggests a slightly more optimistic outlook among Binance users, anticipating a potential upward movement for Bitcoin. This subtle bullish tilt could influence short-term price action, as significant buying pressure can emerge from such sentiment. Bybit and Gate.io: Are Traders More Cautious with BTC Perpetual Futures Here? Bybit is another major player, known for its derivatives trading. Their BTC perpetual futures long/short ratio presents a contrasting view: Bybit: Long 48.65%, Short 51.35% Here, the sentiment leans bearish. A greater percentage of Bybit traders are shorting Bitcoin, indicating an expectation of price decline. Similarly, Gate.io also contributes significantly to the overall open interest, and their BTC perpetual futures ratio aligns more closely with Bybit’s cautious stance: Gate.io: Long 49%, Short 51% This reinforces the idea that while Binance traders might be feeling a bit more bullish, a significant portion of the market across other major platforms remains wary. Understanding these varied sentiments is crucial for any trader navigating the complexities of BTC perpetual futures . Actionable Insights from BTC Perpetual Futures Data So, what can we take away from these figures? The current landscape of BTC perpetual futures indicates a market at a crossroads. The overall near-even split, combined with varying sentiments across top exchanges, paints a picture of uncertainty. Here are some actionable insights: Monitor for Shifts: A sudden, decisive shift in the long/short ratio on any major exchange could signal an impending price movement. Consider Divergences: When exchanges show significantly different sentiments, it might indicate localized trends or unique trader demographics on those platforms. Combine with Other Metrics: Always use the long/short ratio in conjunction with other technical and fundamental analysis tools for a comprehensive view. For example, look at funding rates or open interest changes alongside BTC perpetual futures ratios. In conclusion, the 24-hour BTC perpetual futures long/short ratio reveals a fascinating tug-of-war between bullish and bearish forces. While the overall market hangs in a delicate balance, individual exchanges show slight leanings that could offer clues about future price direction. Staying informed about these crucial metrics can provide a significant edge in your trading decisions. Frequently Asked Questions About BTC Perpetual Futures Q1: What is the BTC perpetual futures long/short ratio? A1: The BTC perpetual futures long/short ratio indicates the proportion of traders holding long positions (expecting price increases) versus those holding short positions (expecting price decreases) in the perpetual futures market for Bitcoin. Q2: Why is the long/short ratio important for traders? A2: This ratio is a key indicator of market sentiment. It helps traders gauge whether the market is predominantly bullish or bearish, which can inform their trading strategies and risk management. Q3: How do different exchanges’ BTC perpetual futures ratios compare? A3: As seen, ratios can vary between exchanges like Binance, Bybit, and Gate.io. These differences can reflect the unique demographics or trading behaviors of users on each platform, offering nuanced insights into market sentiment. Q4: Does a balanced long/short ratio mean no price movement for BTC perpetual futures? A4: Not necessarily. A balanced ratio can indicate indecision or a period of consolidation. However, it can also precede a significant move once one side gains dominance, as the market seeks a clearer direction. Q5: How can I use this information in my trading strategy? A5: You can use the long/short ratio as a sentiment indicator, combining it with other technical analysis tools like price action, volume, and funding rates. It helps confirm trends or identify potential reversals. Did you find these insights into BTC perpetual futures valuable? Share this article with your fellow traders and help them understand the intricate dynamics of market sentiment! To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin price action. This post BTC Perpetual Futures: Unveiling Crucial Trader Sentiment Across Top Exchanges first appeared on BitcoinWorld and is written by Editorial Team

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Law Firm Fenwick Rejects Claims It Helped Enable FTX Collapse

Fenwick & West, a prominent Silicon Valley law firm, has rejected allegations that it played a central role in the collapse of crypto exchange FTX, calling the claims “facile” and “flawed” in a court filing on Monday . Key Takeaways: Fenwick & West has rejected claims it enabled FTX’s collapse, calling the allegations speculative and flawed. The firm argues it only provided routine legal services and had no knowledge of fraud. Fenwick says the amended lawsuit recycles claims already dismissed in similar cases, including those against Sullivan & Cromwell. The legal pushback comes in response to an amended class-action lawsuit filed by FTX customers earlier this month in a Florida federal court. Plaintiffs are seeking to update their 2023 suit, arguing that recent revelations from FTX’s bankruptcy proceedings and the criminal trial of founder Sam Bankman-Fried suggest Fenwick provided key legal support that enabled the fraud. Fenwick Dismisses FTX Allegations as Speculative and Misleading In its filing, Fenwick dismissed the allegations as speculative and misleading, asserting it merely provided routine legal services typical of any outside counsel. “Fenwick is not liable for aiding and abetting a fraud it knew nothing about,” the firm wrote, “based solely on allegations that Fenwick did what law firms do every day — provide routine and lawful legal services to their clients.” The plaintiffs’ broader class-action case also includes claims against celebrities and companies linked to FTX. While law firm Sullivan & Cromwell was initially named in the case, it was later dropped after a court-appointed examiner found no evidence the firm had knowledge of the fraud. Fenwick said the latest complaint recycles similar accusations previously made against Sullivan & Cromwell, noting the plaintiffs “offer no credible reason why the same allegations should survive against Fenwick.” Fenwick & West asked a Florida federal judge to shut down a bid by victims of the infamous FTX cryptocurrency scam to bring new claims against the firm, calling allegations that it knew about FTX's misuse of customer funds an "irresponsible falsehood." https://t.co/t9EIIyVHUG pic.twitter.com/51WZNGydli — Law360 (@Law360) August 27, 2025 Central to the new claims is testimony from Nishad Singh, FTX’s former lead engineer, who reportedly discussed Fenwick’s involvement in structuring loans. Fenwick countered that Singh did not accuse the firm of helping cover up misuse of customer funds. Instead, the testimony described standard legal work on “founder loans,” which are common in startups. Fenwick also argued that dozens of witnesses in Bankman-Fried’s criminal trial testified to being unaware of the fraud, including FTX’s internal lawyers, employees, and other external advisors, adding that “Fenwick is no different.” Fenwick Rejects Claims It Promoted FTX’s FTT Token The firm further criticized new allegations that it helped launch and promote FTT, FTX’s exchange token, as violating Florida and California securities laws. Fenwick labeled those claims “frivolous” and “untimely,” accusing plaintiffs of filing them only after a judge allowed state securities claims to proceed against celebrity endorsers. “This is an eleventh-hour attempt to recast lawyers as ‘promoters,’” Fenwick said. “But this theory too goes nowhere.” The court has yet to rule on whether the amended complaint will be accepted. As reported, FTX has announced that it will begin its next round of cash distributions to creditors on or around September 30, 2025. The record date for eligible claimants was set for August 15. The payments will be processed through FTX’s designated distribution partners, including BitGo, Kraken, and Payoneer. Meanwhile, a Chinese creditor representing over 300 users is opposing FTX’s proposal to restrict payouts in 49 jurisdictions, including China, arguing it is legally unfounded and unfair. The post Law Firm Fenwick Rejects Claims It Helped Enable FTX Collapse appeared first on Cryptonews .

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USDT0 and XAUt0 Are Now Live on Polygon

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ROVR Releases Open Dataset to Power the Future of Spatial AI, Robotics, and Autonomous Systems

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Bitcoin price today: up near $113k as focus returns to Fed easing bets

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