FameEX Morning Crypto News Recap | July 8, 2024

As of 2024, more than 300 ETFs have launched, dominated by the top performers which are all spot Bitcoin ETFs

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

North Carolina Governor Vetoes CBDC Ban Bill

North Carolina Governor Roy Cooper vetoed House Bill 690, intended to ban a US Federal Reserve-issued central bank digital currency (CBDC). Despite strong legislative support, Cooper deemed the bill "premature, vague, and reactionary" in a June 5 statement, facing criticism for potentially politically motivated actions.

UBS Executive Highlights AI's Role in Transforming Banking

Sabine Keller-Busse, head of UBS’s domestic business, stated that artificial intelligence is transforming client interactions at the bank. She compared this change to patients visiting doctors with self-diagnosed conditions, emphasizing how AI empowers clients with more information and alters traditional advisory roles.

Analysts Predict Gold Price Surge in Possible Second Trump Term

Despite a crypto market downturn, gold has increased by 3% over the past five days, reaching $2,391 per ounce. Supporters anticipate continued strong performance in late 2024. Analysts at Heraeus suggest that a potential second Trump era could further boost gold prices, paralleling predictions for bitcoin.

Bitcoin Network Undergoes Second Largest Difficulty Reduction of 2024

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

NFT sales have risen by 8% despite a broader decline in the cryptocurrency market.

Despite crypto market declines, NFT sales reached $109 million last week, marking an 8.1% increase from previous weeks and showcasing the sector's resilience amid broader economic challenges.

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