convergence

Galaxy Research Director Alex Thorn stated that the adjusted discount of Bitcoin on Coinbase relative to Binance's USDT has expanded to the largest level this year. However, Binance's previous suspension of withdrawals limited cross-platform arbitrage activities, making this price difference difficult to accurately reflect the true demand signals in the U.S. market.With Binance having resumed withdrawals, attention should be paid to whether the price difference between the two major exchanges will gradually narrow.

ChainCatcher live report, at the OKX NOW Global Products and Ecosystem Conference (Singapore), Star stated that looking ahead to the next decade, the internet, cryptocurrency technology, and AI are converging. The internet enables globalization and immediacy of information, cryptocurrency technology allows for the globalization and programmability of value, and AI enables scalability and personalization of intelligence. The combination of these three could fundamentally change financial services: funds could flow globally around the clock, payment costs could be lower, and financial products could be more personalized, with services that were previously only available to affluent consumers expected to be accessible to everyone.He concluded that OKX aims to build a global, real-time, AI-driven fintech platform for the next generation.

Matrixport's analysis states that since October, the price of Bitcoin on Coinbase has consistently been lower than on other global exchanges, creating a noticeable discount. Although this price difference is somewhat influenced by fluctuations in USDT prices, the long-term discount still reflects a more pronounced selling tendency among investors on the Coinbase platform.The imbalance in capital flows from the U.S. market may be one of the important reasons for the continued pressure on the market in recent months. However, when the price of Bitcoin briefly fell to around $60,000, the discount began to narrow and has now basically returned to neutral levels. We previously mentioned that this kind of correction often indicates that most of the selling pressure has been gradually absorbed by the market, and the trading status of Bitcoin is expected to improve accordingly.Recent price trends seem to confirm this judgment. Despite ongoing geopolitical risks and the overall weak performance of risk assets, Bitcoin's overall trend remains relatively robust. This may indicate that the earlier phase of heavy selling pressure is gradually coming to an end, and the market environment is expected to see marginal improvements.

Chinese crypto analyst Banmuxia released an analysis video today, stating that although Bitcoin has fallen below $90,000, the trend is still intact. Multiple moving averages on the 4-hour chart have converged to form a key resistance (around the $90,500 range), and a breakout would signal a crucial bullish indication.Additionally, Banmuxia has lowered the take-profit levels to $96,200, $101,600, $110,000, and $112,500 (previously "$98,000, $103,300, and $112,500, with dynamic adjustments"), and reiterated that, in the context of improved liquidity, assets like Bitcoin are still likely to rise.

ChainCatcher news, the decentralized interchangeable asset protocol Convergence has announced its latest roadmap after transforming into an AI trading algorithm platform. According to the plan,Convergence will undergo a rebranding in Q3 2024, develop a prototype of the AI trading platform, and focus on expanding into the South Korean market.In Q4, a trading DAO will be established, governance tokens will be introduced, and the development of AI trading algorithms will begin.In Q1 2025, AI algorithm optimization and platform beta testing will take place, and in Q2, fully homomorphic encryption (FHE) technology will be introduced to enhance security and confidentiality.In the second half of the year, Convergence plans to expand its global market share, establish strategic alliances, and continuously optimize algorithms and trading tools.

ChainCatcher news, according to the monitoring by Shield, the DeFi protocol Convergence has been attacked, resulting in a loss of approximately $210,000. The hacker minted about 58 million CVG, which were then exchanged for 60 WETH and 15,900 crvFRAX.The vulnerability is part of the CvxRewardDistributor contract, which did not validate (untrusted) user input for claiming rewards.

ChainCatcher news, according to The Block, the Solana-based crypto trading platform Convergence RFQ has completed a $2.5 million Pre-Seed funding round at a valuation of $30 million, led by C² Ventures, with participation from Big Brain Holdings, the Israel Blockchain Association, Auros Global, and others, using the Simple Agreement for Future Tokens (SAFT) format. Convergence RFQ is currently building its platform on Solana and plans to support Arbitrum, with a launch expected in early next month.

ChainCatcher news, Mesh's parent company, the fintech incubator and investment group 42Markets Group, announced that it has secured $10 million in growth funding from Convergence Partners to promote the growth and development of its portfolio companies, including Mesh, Andile, and FXFlow.Mesh (Mesh.trade) was co-founded in 2019 by Managing Director Connie Bloem and 42Markets Group CEO Andries Brink, aiming to bridge the gap between TradFi, AltFi, and DeFi, allowing market participants to issue, tokenize, trade, settle, and manage various digital securities. Mesh was initially launched on the Stellar blockchain and is currently working on integrations with other L1 blockchains to introduce a new range of asset classes. (source link)