FameEX Biweekly: FameEX Rises to 27th in Global Rankings, Marking a New Achievement! (August 2024, Issue 1)

Overview:

Catch up the highlights from August 1 to August 15, 2024. During this period, with the efforts of the team and the support of global users, the global ranking of the FameEX platform has risen to 27th, setting a new record! In addition, the FameEX APP has also been upgraded to Android V3.5.5 and IOS Enterprise Package V1.2.1. Read this issue of the Biweekly to quickly catch up on the latest highlights from the FameEX platform!

Crypto World News

MicroStrategy’s Q2 Earnings Reveal Bitcoin Reserves Valued at $14.7 Billion

According to Q2 of 2024, MicroStrategy, the business intelligence firm, acquired an additional 12,222 Bitcoin for $805 million, bringing its total Bitcoin holdings to 226,500 BTC, valued at $14.7 billion based on current prices.

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Whales Withdraw Bitcoin from Exchanges at 9-Year High

Despite ongoing market volatility, Bitcoin withdrawals by whales have reached a nine-year high. In July, whale holders increased their holdings by 84,000 BTC, marking the fastest rate of Bitcoin withdrawal from exchanges since 2015, a period when BTC prices bottomed out at around $220.

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U.S. Mining Companies Average $43,000 Cost Per Bitcoin

Ki Young Ju, founder and CEO of CryptoQuant, stated that the average mining cost for U.S. mining companies is approximately $43,000 per Bitcoin. Marathon Digital's Q2 2024 report revealed their average mining cost per Bitcoin was $42,969.

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The Fed’s Balance Sheet Reduction Nears Conclusion, Tied to Interest Rate Cuts and Market Pressures

The Fed is nearing the end of its balance sheet reduction, with the timeline dependent on the pace of interest rate cuts and financing market pressure. Policymakers suggest U.S. debt holdings reduction could conclude by year-end, though Wall Street anticipates that quantitative tightening won't end abruptly.

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Bitcoin ETF Options Are Expected To Launch Before 2025

Bitcoin ETF options are anticipated to start trading on U.S. exchanges this year, with options on Ethereum ETFs expected to follow soon. Options are contracts that provide the right to buy or sell an underlying asset at a specified price known as call or put options in trading terms. They are valuable for hedging and are also popular among speculators.

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FameEX Hot Topics | Ether ETF Sees First Positive Weekly Inflows Since Launch

In the week beginning August 5, the newly launched nine spot Ether ETFs in the United States experienced their first week of positive net inflows since their debut on July 23, totaling $104.8 million. This marks a significant milestone for these ETFs, as they managed to generate positive momentum despite a challenging market environment for Ether, which saw its price decline by 23% since the beginning of August.

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FameEX News

Platform Events

1. FameEX Paris Festive Frenzy. FameEX successfully launched the "FameEX Paris Festive Frenzy: Win Your Share of 88,000 USDT Prize Pool" event, lasting 12 days from July 29, 2024 to August 9, 2024. All FameEX users can join and win corresponding rewards by completing the tasks. For details, please view the event announcement.

View Announcement

2. FameEX BTF Listing Event. FameEX launched the "FameEX New Listing Bitcoin Finance (BTF): Join to Share $5,000 $BTF" event, lasting 8 days from August 06, 2024 to August 13, 2024. All FameEX users can join and win token airdrops by completing the tasks. For details, please view the event announcement.

View Announcement

3. Futures Trading Competition. From August 10, 2024 to August 20, 2024, FameEX launched the "FameEX Futures Championship: Trade to Grab 1,000 USDT" activity. As a newcomer, the user can get rewards randomly after successfully trading futures. Moreover, new and old users who participate in futures trading can also win 1,000 USDT. For details, please check the event announcement.

View Announcement

New Listing

Five new tokens were listed on the FameEX Spot during the period.

◆ Radx Ai (RADX): RADX/USDT was listed in the spot trading zone on August 1, 2024.

◆ Source (SOURCE): SOURCE/USDT was listed in the spot trading zone on August 1, 2024.

◆ X-GAME (XG): XG/USDT was listed in the spot trading zone on August 6, 2024.

◆ Poo Chi (SIR): SIR/USDT was listed in the spot trading zone on August 7, 2024.

◆ BitcoinFinance (BTF): BTF/USDT was listed in the spot trading zone on August 8, 2024.

Token Updates

1.Render (RNDR) Token Swap and Rebranding: FameEX completed the Render (RNDR) token swap and rebranding to Render (RENDER) on August 8. All RNDR tokens have been swapped to RENDER at a ratio of 1 RNDR = 1 RENDER.  For more details, please refer to the announcement below.

View Announcement

2. Galxe (GAL) Token Swap and Rebranding:FameEX completed the Galxe (GAL) token swap, redenomination, and rebranding to Gravity (G). All GAL tokens have been swapped to G at a ratio of 1 GAL = 60 G.  For more details, please refer to the announcement below.

View Announcement

Trading Volume

◆ As of August 15, FameEX's highest ranking on CoinMarketCap hit 27th, with a 24-hour trading volume of $782,048,701, an average liquidity of 763, and a weekly average of 936,663 visits. (Data source: CoinMarketCap)

◆ As of August 15, the total assets in the risk reserve wallet are 7,014,072.04 USDT. It is updated daily and can be viewed HERE in real time.

Feature Upgrades

1. [APP Version Upgrade] FameEX completed the optimization and upgrade of the Android V3.5.5 version and iOS Enterprise Package V1.2.1 of the APP on August 2. The specific updates are as follows:

• Added entries for the Launchpool section and Earn Wallet;

• Added risk level information on the Futures page;

• Introduced a new page for contract leverage and margin tiers, allowing users to view maximum leverage and margin maintenance rates;

• Optimized and standardized the precision display on the asset page;

• Added a quick return button on the market page.

Project Information

Project Research

FameEX Research Institute released the latest reports: TRX (TRON), DOT (Polkadot), and Binance Coin (BNB) updated for 2024.

FameEX Official Community

1. X (formerly Twitter): 110K Followers. Link:https://twitter.com/FameexGlobal 

2. Telegram (Global): 131,794 Members. Link:https://t.me/fameexgroup 

3. Discord: 14,865 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 

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