FameEX Morning Crypto News Recap | March 18, 2024

Bitcoin Miners Approach the Last Month Before Halving Decreases Income

Only 34 days are left until the Bitcoin halving event on approximately April 20, 2024, which will halve miners' rewards. However, Bitcoin's value has remained above $60,000 throughout March, peaking at nearly $74,000 on March 14. This price increase, alongside onchain fees, could potentially compensate for the decrease in mining earnings post-halving.

El Salvador Persists in Daily Acquisition of 1 Bitcoin

El Salvador has implemented a policy of buying one bitcoin each day since 2022, led by President Nayib Bukele's initiative dubbed the "1 bitcoin a day program." The bitcoins purchased daily are added to the same wallet that contains a significant amount of bitcoins previously announced by Bukele, reinforcing the nation's commitment to integrating cryptocurrency into its financial strategy.

India's Finance Minister Declares Cryptocurrencies Are Not Legal Tender, Hopes for Framework Development at G20 Summit

Indian Finance Minister Nirmala Sitharaman stated the government's stance that crypto assets are not considered currencies, but their utility in trading and financial operations is recognized. She highlighted India's proactive discussions on cryptocurrency regulation with the G20, optimistic about establishing an extensive regulatory framework to navigate the dynamic domain of digital finance.

Goldman Sachs Anticipates Three U.S. Interest Rate Decreases in 2024

Goldman Sachs's FOMC report highlights a spike in recent U.S. inflation, yet anticipates a decline sufficient for a rate cut by June. The firm adjusted its forecast to three rate cuts in 2024, a decrease from the initially predicted four, due to a modestly higher inflation forecast. It also expects four rate cuts in 2025 and foresees an additional cut in 2026.

US Manufacturers Are Rapidly Moving Operations to the Metaverse

According to a World Economic Forum (WEF) report, an increasing number of U.S. manufacturing companies are turning to the industrial metaverse to solve complex production problems. Released on March 12, the report reveals that 92% of American manufacturing executives are considering the adoption of metaverse technologies in their operations, indicating a substantial pivot to digital innovation within the sector.

Starbucks Confirms End of NFT-Based Rewards Program

Starbucks announced the closure of its pioneering NFT rewards program, which allowed patrons to accumulate and acquire digital collectible stamps represented as NFTs. This decision reflects a broader trend among leading corporations over the last year, signaling a reconsideration of how digital collectibles are utilized in engaging with consumers.

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