FameEX Morning Crypto News Recap | April 22, 2024

Yield Curve Inversion Reaches Record 656 Days, Reflecting Pre-Crash Stock Market Trends

The U.S. Treasury yield curve, comparing two-year to ten-year bond yields, has been inverted for 656 days, echoing conditions prior to major stock market crashes in 1929, 1974, and 2008. This prolonged inversion has triggered extensive debate among market observers about its potential implications for the U.S. economy.

NFT Sales Fall Over 25% as Bitcoin Takes the Lead in a Decelerating Market

Recent data indicates that NFT sales fell 25.48% over the week ending April 21, 2024, totaling about $236.96 million. Bitcoin was prominent in the NFT market during this period, contributing $111.8 million to the total sales since April 14.

Meme Coins Exceed Broader Crypto Market Performance with Notable Gains

In the last 24 hours, the meme coin crypto sector grew by 9.6% relative to the U.S. dollar. Leading the gains, the Solana-based meme token BONK soared by 41.8%, and FLOKI also experienced notable growth, increasing by 18.7%.

USA and Nigeria to Form AI Alliance Aimed at Boosting Economic Growth

The USA and Nigeria are planning to explore collaborative opportunities in the digital economy, emerging technologies, and AI advancement. This initiative, highlighted by Mr. Arthur Brown from the U.S. Embassy during a National Artificial Intelligence Strategy workshop in Abuja, aims to boost economic growth through AI in both countries.

Persistent US Inflation Causes Volatility in Emerging Market Currencies

The volatility in emerging market currencies is largely driven by ongoing US inflation and high benchmark interest rates. This has caused a shift in optimism among global financial market investors. Additionally, there are increasing concerns about "secondary inflation" in the US and the potential lowering of expectations for Federal Reserve interest rate cuts.

US Senator's Stablecoin Regulation Bill Proposal Meets with Criticism

A stablecoin regulation bill introduced by U.S. Senators Cynthia Lummis and Kirsten Gillibrand has drawn criticism for potentially hindering innovation and violating First Amendment rights. The bill proposes a ban on "algorithmic payment stablecoins," posing significant implications for software developers and the broader technology community.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​