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Analysis: The process of deleveraging has accelerated, and Binance's Bitcoin open interest has decreased by 17% in one month

CryptoQuant analyst Darkfost stated that within less than a month, the open interest of BTC on the Binance platform has decreased from 10.6 billion dollars to 8.8 billion dollars, a drop of 17%. Meanwhile, its 180-day moving average has risen from 8.4 billion dollars to 8.6 billion dollars. As the open interest falls below the moving average, new signals of deleveraging are emerging in the market. In a bull market phase, this signal typically appears when market corrections are nearing their end, reflecting that traders are reducing their leveraged exposure, which includes both voluntary liquidations and forced liquidations due to insufficient margin.Aside from the fact that this process may last for months in a bear market, a similar signal last appeared in June of this year when the BTC price was below 60,000 dollars, subsequently rebounding to above 87,000 dollars, with an increase of over 45%. Currently, as the open interest declines, the market is also experiencing large-scale liquidations. Low volatility seems to encourage some traders to take on higher risks to compensate for the insufficient returns brought about by the narrowing price fluctuations, making them more susceptible to market reversal shocks. Over the past three months, the monthly liquidation scale on Binance has reached new highs since 2021: over 1.4 billion dollars in August, 1.1 billion dollars in September, and 1.3 billion dollars in October. This trend appears to continue into November, with the liquidation scale exceeding 520 million dollars before the end of the first half of this month.These data highlight the potential losses that leveraged trading can bring to investors. In a market environment with low volatility and shrinking trading volume, blindly increasing risk exposure due to a lack of patience can quickly lead to heavy costs. However, the deleveraging phase also helps improve the market environment. Reducing leveraged positions can lower the risk of cascading liquidations, allowing spot demand to play a greater role in market pricing, thereby helping Bitcoin establish a more robust market structure.

Gate October Transparency Report: Launching Gate Money to Connect Diverse Assets, Spot Trading Share Growth Ranks Second in the World

Gate released the transparency report for October 2026. The report shows that in October, Gate officially launched Gate Money around the strategic concept of "One Gate, Everything Money," integrating global bank accounts, fiat currencies, digital assets, stocks, and payment services. Eligible users can open a global electronic bank account of the same name online. Currently, users can enjoy SWIFT cross-border payment services for four major fiat currencies: USD, EUR, GBP, and AED, with both account management fees and withdrawal fees reduced by 50%, streamlining the entire process from "account opening --- funds --- assets --- consumption."In the future, this service plans to expand to markets in Europe, Australia, Dubai, and support the receipt of over 60 local currencies. In terms of trading and wealth management ecosystem, CoinDesk's monthly "Exchange Review" shows that Gate's derivatives trading volume in October reached $394 billion, maintaining its position as the third largest global centralized exchange (CEX); spot trading volume grew against the trend by 2.1% to $49.8 billion, with a market share increase ranking second globally. Idle Money's holdings exceeded $340 million, Launchpool's monthly staking amount surpassed $575 million, and the additional rewards from Idle Money increased significantly by 61.04% month-on-month.While rapidly expanding its business, Gate continues to solidify its security foundation, with total reserves rising to $8.688 billion in October, a month-on-month increase of 5.7%, and the overall reserve ratio rising to 118.49%, ensuring comprehensive protection of user asset security with ample excess reserves.

The pass rate and cost of Alma by independent developer Yetone are better than Claude Code

The locally developed AI Agent Alma, led by independent developer Yetone, ranked third in the latest round of cross-evaluation initiated by the AI Agent infrastructure company Runta, both in task success rate and cost of success, outperforming tools like Claude Code and OpenCode. The current leaderboard snapshot shows that Alma has a task success rate of 72.7%, just behind Codex CLI at 77.9% and Pi at 72.8%, while Claude Code stands at 70.0%.Alma costs approximately $0.80 on average for each successfully completed task, compared to Claude Code's $0.94, making it about 16% cheaper. This FrontierHarness v1.1 comparison evaluates the performance of the same large model under different Agent execution frameworks, covering 21 sets of Harness configurations, 5 large models, and 62 tasks, with each task repeated 4 times, planning to run a total of 26,040 times, which is 72 times the scale of the previous version. All tools operate in a unified cloud environment, comparing task success rates, token costs, and execution speeds.Alma emphasizes local operation and long-term memory, capable of reading and modifying code, executing terminal commands, searching the web, and supporting Skills and MCP, while also allowing for switching underlying models. Recently, Alma integrated with Herdr, allowing programming Agents like Claude Code, Codex, and Pi to continue operating within Herdr, and enabling users to view execution processes, respond to questions, and approve operations in a centralized chat interface. Users can also remotely manage multiple Agents on their computers via iPhone. The evaluation is still ongoing, and rankings may change; the models being tested are limited to open-source models like GLM, DeepSeek, Kimi, and Muse, and do not cover closed-source models from the GPT and Claude series.

Gate held a high-profile closed-door dinner in London, where founder and CEO Dr. Han shared the strategic layout of Gate Money

On November 10, Gate held a high-profile closed-door dinner at the Dorchester Hotel in London, gathering global leaders in the digital asset industry, institutional representatives, and important partners. Gate's founder and CEO Dr. Han delivered a keynote speech titled "One Gate, Everything Money," sharing Gate's strategic layout in comprehensive financial services, global compliance, and financial innovation.Dr. Han highlighted the next-generation comprehensive financial service application Gate Money, explaining Gate's strategic upgrade from "One Gate, Trade Everything" to "One Gate, Everything Money." Gate Money aims to integrate diverse assets such as cash, cryptocurrencies, gold, stocks, and ETFs, combining AI-assisted asset allocation and payment services to create an integrated financial experience. Dr. Han specifically shared a case of purchasing coffee with Nvidia (NVDA) stock, showcasing the innovative direction of merging investment assets with everyday consumption scenarios.Additionally, Dr. Han emphasized that Gate insists on compliance and security as the foundation for development, with its physical compliance covering 81 jurisdictions and continuously expanding its global financial cooperation network. The event also featured institutional roundtable discussions and fireside chats for communication. This sharing further conveyed Gate's development philosophy based on compliance and security, driven by financial innovation, and showcased the platform's long-term vision of building a global comprehensive financial service ecosystem.Disclaimer: This event is for entertainment and social interaction purposes only. The content herein does not constitute any offer, solicitation, or recommendation. Users in the UK may not use Gate's services through Gate.com but may only use the services provided by Gate UK. Gate will not promote or provide products or services on its website Gate.com in any restricted areas (including the UK) and may restrict or prohibit users from restricted areas from using all or part of the services. For more information, please refer to the "User Agreement."
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