FameEX Biweekly: FameEX Climbs to 30th Place Among Global Exchanges (July 2024, Issue 2)

Overview

Catch up the highlights from July 16 to July 31, 2024 at FameEX. During this period, FameEX has introduced a new feature allowing users to register using their mobile numbers. Now, new users can complete their sign-up process with their mobile numbers. Additionally, FameEX’s global ranking has slightly improved, reaching the top 30th on the global exchange leaderboard. Read this issue of the Biweekly to quickly catch up on the latest highlights from the FameEX platform!

Crypto World News

FameEX Hot Topics | Mark Cuban Predicts Bitcoin Could Become a Global Reserve Asset

Cuban suggested that increased support in Silicon Valley for former President Trump could indicate a “Bitcoin play” from the Big Tech sector. He explained that the United States’ geopolitical role is under scrutiny and that inflationary pressures might worsen with the introduction of future tax cuts promised by Trump. These factors, Cuban argued, could drive Bitcoin prices higher. However, he clarified that while these scenarios are possible, they are not guaranteed to happen.

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Hong Kong Monetary Authority Mandates Stablecoin Issuers to Deposit Reserve Assets in Licensed Banks

The Hong Kong Monetary Authority (HKMA) advises stablecoin issuers to deposit reserve assets in licensed Hong Kong banks for better protection in case of business interruption or bankruptcy. The HKMA allows placing reserves in other regions if issuers demonstrate necessity and ensure proper risk management and user rights protection.

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Biden Declares Withdrawal from 2024 Presidential Race

On July 22, US President Biden issued an open letter announcing he would not seek re-election. Although he initially intended to run, he decided to step down for the party’s and country’s best interests, focusing on his duties for the remainder of his term. Biden will give a speech later this week outlining his decision.

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Ethereum ETFs Debut With Trading Volumes Exceeding $1 Billion

On their debut, the United States’ spot Ethereum exchange-traded funds (ETFs) collectively achieved approximately $1.08 billion in trading volume, roughly 23% of the trading volume observed for spot Bitcoin ETFs on their first day. The converted Grayscale Ethereum Trust (ETHE) and BlackRock’s iShares Ethereum Trust (ETHA) saw the highest trading volumes on July 23, with $458 million and $248.7 million, respectively, according to preliminary data from Bloomberg ETF analyst Eric Balchunas. 

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Total Stablecoin Market Cap Surpasses $164 Billion for First Time Since Terra Crash

According to data from DefiLlama and Wintermute, the total market value of stablecoins has surpassed $164 billion for the first time since Terra’s collapse in May 2022. Previously hovering around $160 billion, Wintermute reports that this growth reflects increasing investor optimism and supports a bullish outlook for the market.

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FameEX Hot Topics | 9 Ethereum ETFs Hold 2.91 Million ETH

On July 25, the trading volume of Ethereum spot ETFs decreased compared to the previous two days. However, the nine Ethereum spot ETFs in the United States currently hold approximately 2,914,894.747 ETH, which accounts for 2.41% of the total circulating supply. Based on the current prices, the total value of this Ethereum is approximately $9.25 billion. This data comes from the official websites of the nine ETFs, which display the amount of Ethereum held by each fund.

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FameEX News

Platform Events

1. FameEX Rally and Fight: Join to Share 5,000 USDT. From July 16 to July 26, FameEX launched the “FameEX Rally and Fight: Join to Share 5,000 USDT” event. All FameEX users can participate in MAGA and PEOPLE spot trading to share specific rewards. For more details, please refer to the event announcement.

View Announcement

New Listing

One new token was listed on the FameEX Spot during the period.

• Hoppy (HOPPY): HOPPY/USDT was listed in the spot trading zone on July 25, 2024.

Token Swap

1. Render (RNDR) Token Swap and Rebranding. On July 23, FameEX announced support for the Render (RNDR) token swap and rebranding to Render (RENDER). Afterward, RENDER will be adopted as the ticker of RENDER at FameEX.

View Announcement

2. Galxe (GAL) Token Swap, Redenomination, and Rebranding to Gravity (G). On July 24, FameEX announced support for the Galxe (GAL) token swap, redenomination, and rebranding to Gravity (G). Afterward, G will be adopted as the ticker of G at FameEX.

View Announcement

3. Conflux (CFX) Token Swap and Rebranding. On July 25, FameEX announced support for the Conflux (CFX) network upgrade and hard fork, with suspending CFX token deposits and withdrawals from August 13, 2024, at 05:30 (UTC). Therefore, it is recommended that you deposit CFX in advance, and FameEX will provide technical assistance.

View Announcement

Trading Volume

• The FameEX platform ranked 30th on CoinMarketCap on July 31. The 24-hour trading volume was $755,762,832, with an average liquidity of 740 and an average of 1,038,475 weekly visits. (Data source: CoinMarketCap)

• As of June 31, the total assets in the risk reserve wallet are 6,855,231.4 USDT. It is updated daily and can be viewed HERE in real time.

Feature Upgrades

1. [Registration via mobile number] On July 22, FameEX enabled the mobile number registration function for both the APP and Web versions. New users can choose to register an account using their mobile numbers.

2. APP Version Update: FameEX completed the optimization and upgrade of the Android V3.5.34 and IOS enterprise packages V1.2.0 (23) on the APP on July 23. Details are as follows:

• Added an estimated liquidation price feature in the futures section.

• Optimized the countdown display feature for trading pairs.

• Improved the take profit and stop loss prompt information for the futures trading and added a PnL% feature.

3. Web Version Update: FameEX completed the optimization and upgrade of its web version on July 23. Details are as follows:

• Standardized icons and optimized the navigation UI;

• Improved the take profit and stop loss function for the futures trading and added a PnL% feature.

• Enhanced the futures tiered levels page and added detailed leverage elements.

Project Information

FameEX Research released the latest reports: Link (Chainlink) 、TRX (TRON) 、and BTC (Bitcoin) (2024 updated version).

FameEX Official Community

1. X (formerly Twitter): 101K Followers. Link: https://twitter.com/FameexGlobal

2. Telegram (Global): 144,224 Members. Link https://t.me/fameexgroup

3. Discord: 15,015 Members. Link: https://discord.gg/V8yvKPxVCk

Follow more official channels on:

Chinese X (formerly Twitter):https://twitter.com/FameEXzh

YouTube: https://www.youtube.com/c/FAMEEX

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