FameEX Biweekly | FameEX Lifts to 41st Place in the CoinMarketCap Rankings With Its Average Liquidity Breaking the 550 Mark! (Issue 2, January 2024)

Overview:

Catch up the highlights from January 16 to January 31, 2024. FameEX experienced significant growth in its events. According to data from the third-party market platform CoinMarketCap, FameEX ranked 41st among cryptocurrency exchanges with average liquidity of 550. This achievement can be attributed to the highly anticipated platform events and the listing of popular tokens during this period. For more details, check out this issue of FameEX Biweekly.

Crypto World News

IMF Head Acknowledges Crypto as an Asset Class

IMF chief Kristalina Georgieva recognizes cryptocurrencies as an asset class rather than a currency. She downplays the idea of Bitcoin replacing the U.S. dollar’s global dominance, pointing to the vast size of the U.S. economy and the advanced, deep capital markets as major reasons for the dollar’s enduring supremacy.

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Cathie Wood’s Insight About Bitcoin’s 2024 Halving Could Transform the Cryptocurrency Landscape

Cathie Wood, Ark Invest’s director of digital assets, highlighted that Bitcoin’s 2024 halving could transform the cryptocurrency landscape in a recent interview. Wood revealed that Bitcoin’s 2024 halving is completely different from the previous three times. The rate of growth in Bitcoin’s supply is poised to be halved to just under 1% per year. This represents a significant shift as, in comparison, the annual growth rate of the gold supply has averaged roughly 1%. The impending reduction in Bitcoin's supply growth is anticipated to fall below that of gold. This nuanced detail could be a game-changer for the cryptocurrency market. 

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Bitcoin Price Drops Below $40K: What Lies Ahead for BTC?

Data shows that the trade volume for the Bitcoin spot exchange-traded fund (ETF) product has reached an impressive $11.8 billion over the last week, emphasizing the prevailing dominance of the product within the trading trend. Investors perceived the recent downturn in prices as an opportune moment to strategically augment their exposure to short-Bitcoin investment products, CoinShares reported.

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Over 80,000 Bitcoins Withdrawn from GBTC within 12 Days

Grayscale’s Bitcoin Trust (GBTC) has seen a notable reduction in its Bitcoin holdings, according to recent statistics. From Tuesday to Wednesday, GBTC’s total bitcoin count dropped from 552,681.22 to 536,694.93, marking an outflow of 15,986.29 bitcoin in just one day.

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FameEX Hot Topics | SEC Delays Verdict on BlackRock’s Proposed Spot Ethereum ETF to March

On January 24, a statement from the U.S. Securities and Exchange Commission (SEC) showed that the SEC has extended its timeline for a decision on BlackRock’s spot Ether (ETH) exchange-traded fund (ETF). This delay indicates the SEC’s need for more time to consider the rule change proposed by BlackRock.

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FameEX Updates

Platform Events

1. Winning Announcement for FameEX’s 1st Crypto Carnival. On January 24, 2024, FameEX released the winning announcement of the “Kickstart 2024 with FameEX’s 1st Crypto Carnival: Win from 30,000 USDT Prize Pool” event. A total of 11,931 users signed up to participate in the event, and all rewards will be distributed within 7 working days. Please view the announcement for more details.

View Winning Announcement

New Listing

A total of 7 tokens were listed in the FameEX spot trading zone during the period.

◆ Fusionist (ACE): ACE/USDT was listed in the spot trading zone on January 17, 2024.

◆ Streamr (DATA): DATA/USD was listed in the spot trading zone on January 17, 2024.

◆ IoTeX (IOTX): IOTX/USDT was listed in the spot trading zone on January 17, 2024.

◆ BLACK PHOENIX (BPX): BPX/USDT was listed in the spot trading zone on January 23, 2024.

◆ Port3 Network (PORT3): PORT3/USDT was listed in the spot trading zone on January 24, 2024.

◆ Troll (TROLL): TROLL/USDT was listed in the spot trading zone on January 26, 2024.

◆ PUTinCoin (PUT)：PUT/USDT was listed in the spot trading zone on January 31, 2024.

Trading Volume

◆ The FameEX platform ranked 41 on CoinMarketCap on January 31. The 24-hour trading volume was $173,644,267, with an average liquidity of 550 and an average of 542,491 weekly visits. (Data source: CoinMarketCap)

◆ As of January 31, the total assets in the risk reserve wallet are 4,929,443.95  USDT, which is updated daily and can be viewed HERE in real-time.

Feature Upgrades

1. Affiliate Risk Control Factors Added. On January 16, FameEX completed the enhancement of the platform’s warning system and successfully deployed it. A new affiliate risk control factor was added to further improve the platform’s warning system and ensure the smooth operation of the platform.

Project Information

Project Research

FameEX Research has released the latest reports: ORDI (Ordinals), BONK (Bonk), TURT (TurtSat), LIMO (Limoverse), TRAC (Trac), ORT (Okratech Token), and MICE (Mice).

FameEX Official Community

1. X (formerly Twitter):130.3K Followers. Link: https://twitter.com/FameexGlobal 

2. Chinese X:9,101 Followers. Link: https://twitter.com/FameEXzh 

3. YouTube:1,700 Subscribers. Link: https://www.youtube.com/c/FAMEEX 

4. Telegram (Global):137,426 Members. Link: https://t.me/fameexgroup 

5. Discord:7,142 Members. Link: https://discord.gg/V8yvKPxVCk 

Thanks for reading this report of FameEX Biweekly. Stay engaged with our official social media; your voice matters to us!