FameEX Morning Crypto News Recap | February 4, 2024

AI Cryptocurrency Market Capitalization Increases by $1.07 Billion Within 12 Days, Driven by Bittensor's Expansion

The market capitalization of AI-focused cryptocurrencies witnessed a remarkable surge, escalating from $6.08 billion to $7.15 billion in just 12 days. This surge is predominantly driven by bittensor (TAO), which achieved an impressive 31.6% increase in value against the U.S. dollar within a week, highlighting the vigorous growth of the AI cryptocurrency sector.

Bitcoin's Fourth Halving on the Horizon: Expected Impact on the Cryptocurrency Market

With Bitcoin's fourth halving approaching in under 80 days, anticipation surges. This milestone will cut the block reward from 6.25 to 3.125 bitcoins, fueling market speculation. The crypto community wonders if the 2024 halving will mirror past events or forge a new direction for Bitcoin's valuation.

Grayscale's GBTC Sees $6 Billion Drop in Bitcoin Holdings Within 22 Days

Grayscale's GBTC observed a significant dip in its bitcoin assets, shedding 4,254.75 BTC in one day. Since January 12, 2024, the fund has divested 138,742.56 BTC, amassing a loss of over $6 billion. This movement underscores major shifts in the trust's cryptocurrency investment strategy.

NFT Collections Propel Market Revival with 3.74% Uptick in Weekly Sales

Over the last week, the NFT market witnessed a 3.74% rise in sales compared to the week before, accumulating $236,234,800 in transactions. This uptick represents a significant shift from the continuous drops previously seen in NFT sales, indicating a possible change in direction from the market's recent downturn, hinting at renewed interest and investment in NFTs.

Robert Kiyosaki, Author of 'Rich Dad Poor Dad,' Forecasts Impending Collapse of Stock and Bond Markets

'Reach Dad Poor Dad' author Robert Kiyosaki has once again alerted investors to an imminent crash in both stock and bond markets. Criticizing the false economic optimism fueled by surging stock values, he advises against complacency. Highlighting the severity, Kiyosaki warns that the anticipated market downturn could potentially spiral into a depression, emphasizing the need for investor caution.

Finance Authority Jim Rogers Evaluates Cryptocurrencies: Questions Bitcoin's Viability as Money, Notes Governments' Lean Towards Central Bank Digital Currencies

In a recent interview, experienced investor Jim Rogers anticipated impending challenges for the U.S. economy. He emphasized governments' unwillingness to tolerate cryptocurrencies as potential threats to traditional fiat currencies and highlighted their favoritism towards Central Bank Digital Currencies (CBDCs). This underscores the government's steadfast resistance to alternative financial systems.

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