FameEX Morning Crypto News Recap | August 13, 2024

Harris Ahead of Trump in Polls, Raising Concerns in Crypto Markets

Bernstein analysts indicate that Harris's lead over Trump in polls like Polymarket has rattled the cryptocurrency market, leading to a decline in BTC prices. The report suggests that the market currently views a Trump victory as bullish and a Harris victory as bearish, reflecting recent market reactions.

U.S. Bitcoin ETFs Draw $19 Billion in Net Inflows This Year, Exceeding Expectations

Bloomberg ETF analyst Eric Balchunas observed that, despite Bitcoin's recent decline, its spot ETFs have achieved a record $19 billion in net inflows year-to-date. This impressive performance underscores the resilience and sustained investor interest in Bitcoin ETFs.

US Investors Expected to Sustain Liquidity and Support in the Crypto Market

On August 12, QCP Capital observed that despite BTC's strong recovery, it is struggling to stay above $60,000. After two significant corrections, BTC rebounded to over $70,000 within a month. With positive inflows into BlackRock's ETF, U.S. investors are expected to continue offering liquidity and support.

Crypto Activity Rises: DeFi, Bridge Volumes, and Stablecoin Supply Hit New Records

Artemis data, shared by on-chain analyst Peter Schroeder, shows a notable uptick in cryptocurrency activity over the past week. On August 5, DeFi transaction volume hit its highest since March 2023, marking the fourth most active day in DeFi over three years. Additionally, bridge trading and perpetual contract volumes reached their peak since March 2023, while stablecoin transfers hit an all-time record high.

Survey Indicates 9% of Democrats Plan to Invest in Cryptocurrency Within the Next Year

A Paradigm poll reveals that 9% of Democrats are "very likely" to invest in cryptocurrency in the next year. Additionally, 13% of self-identified Democratic voters are undecided about supporting Harris in upcoming elections, highlighting some uncertainty within the party regarding her candidacy.

Tether Joins the AI Race, Competing with Microsoft, Google, and Amazon

Tether CEO Paolo Ardoino revealed the company's expansion into artificial intelligence, targeting competition with Microsoft, Google, and Amazon. Tether has acquired a majority stake in neural implant startup Blackrock Neurotech and invested in Northern Data Group, a data center operator supporting AI model training. This move underscores Tether's venture into new, uncharted territories.

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