FameEX Morning Crypto News Recap | July 8, 2024

Over 300 ETFs Launched by 2024, with the Four Most Successful Being Spot Bitcoin ETFs

Nate Geraci, president of The ETF Store, reported that over 300 ETFs have been launched in 2024, with the four most successful being spot Bitcoin ETFs: IBIT, FBTC, ARKB, and BITB.

Governor Vetoes North Carolina's CBDC Ban Bill

North Carolina Governor Roy Cooper vetoed House Bill 690, which aimed to ban the state's implementation of a US Federal Reserve-issued central bank digital currency (CBDC). Despite near-unanimous support in the House and Senate, Cooper called the bill "premature, vague, and reactionary" in a June 5 statement, facing criticism for potentially politically motivated actions.

UBS Executive Emphasizes AI's Influence on Banking

Sabine Keller-Busse, head of UBS’s domestic business, noted that artificial intelligence is revolutionizing client interactions at the bank. She likened this shift to patients visiting doctors with self-diagnosed conditions, highlighting how AI empowers clients with more information and changes traditional advisory dynamics.

Analysts Forecast Gold Price Surge in Potential Second Trump Era

Despite a general crypto market downturn, gold has risen by 3% over the past five days, trading at $2,391 per ounce. Supporters expect gold to maintain its strong performance in late 2024. Analysts at Heraeus suggest that a potential second Trump era could further increase gold prices, similar to predictions for bitcoin.

Bitcoin Network Experiences Second Largest Difficulty Drop of 2024

On July 4, 2024, the Bitcoin network saw its second-largest difficulty reduction of the year, with mining difficulty dropping by 5% at block height 850,752. This follows a 5.62% decrease on May 9 at block height 842,688. The adjustment marks significant changes in Bitcoin's mining landscape in 2024.

NFT Sales Increase by 8% Despite Broader Crypto Market Decline

Despite a downturn in crypto markets, NFT sales surged with $109 million recorded last week, an 8.1% increase from prior weeks, highlighting resilience in the NFT sector amid broader market declines.

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