# The Invisible Auction Behind Cryptocurrency MarketsInside a packed lecture hall at Cambridge University, Joseph Plazo opened with a statement that immediately challenged the assumptions of cryptocurrency traders, investors, academics, and fintech entrepreneurs."Most market participants see price movement but rarely see the acquisition process ben

# The Invisible Auction Behind Cryptocurrency MarketsInside a packed lecture hall at Cambridge University, Joseph Plazo opened with a statement that immediately challenged the assumptions of cryptocurrency traders, investors, academics, and fintech entrepreneurs."The average crypto trader watches candles while institutions study liquidity."The room