Ethereum News: Securitize and Ethena Launch Ethereum-Compatible Blockchain for Institutional DeFi

In a significant development for the decentralized finance (DeFi) space, two prominent firms, Securitize and Ethena Labs, have collaborated to launch an Ethereum-compatible blockchain named Converge. This new blockchain is designed to cater to institutional investors, offering them a platform to house tokenized assets and access the innovations of DeFi.

Securitize and Ethena Unveil Institutional DeFi Blockchain Called Converge

Securitize and Ethena Labs, two firms closely working with BlackRock’s money market token BUIDL, have created an Ethereum-compatible blockchain named Converge. Designed to house tokenized assets, Converge aims to provide institutional investors with the innovation of decentralized finance (DeFi). Ethena, which offers a yield-bearing USDe token and a BUIDL-backed USDtb stablecoin, will migrate its $6 billion DeFi ecosystem to Converge. Securitize, the transfer agent for BlackRock’s BUIDL token, will bring its suite of tokenized real world assets (RWAs), such as the recently-issued Apollo credit fund token, to the new chain.

Best Crypto Presale: Dawgz AI Leading the Pack

Searching for the best crypto presale? You’re in the right place. Dawgz AI is currently in presale, having raised over $2.6M with a target of $3M. Early buyers are scooping up presale coins at the lowest price with massive potential gains. Plus, there are staking rewards for ETH buyers, offering passive income. Getting into a crypto presale early is like finding a hidden treasure.

On DA Wars & ETH Alignment

L2s aiming for giga gas throughput have opted for external data availability solutions due to data availability bottlenecks. Ethereum’s current capacity is 31.25 KB/s, shared by all rollups using it as a DA layer, leaving blob space at capacity. Rollups are batching blob updates together to manage this. Read more for details.

Ethereum Price Prediction 2025: Standard Chartered’s Shocking Forecast

A top global bank, Standard Chartered, has drastically cut its Ethereum (ETH) price forecast for 2025, lowering it from $10,000 to just $4,000. The bank points to major issues in Ethereum’s ecosystem, especially Layer-2 networks like Base, which are pulling value away from Ethereum’s main network. This sharp downgrade comes as Ethereum struggles, with its price dropping heavily this year.