FameEX Biweekly丨Discover Seamless Trading: FameEX APP V3.4.5 Redefines the Trading Experience! (Issue 2, April 2024)

Overview

Let’s catch up on the highlights from April 16 to April 30, 2024. During this period, FameEX has accomplished a significant iteration of the candlestick function on our APP, introducing several new features to enhance user experience. Furthermore, we have maintained a highly sensitive market awareness, promptly presenting globally sought-after, high-quality currencies to our users after meticulous evaluation, thus crafting a journey of low-risk, high-efficiency cryptocurrency investment for our users. For more details, check out this issue of FameEX Biweekly and find out what’s new on FameEX!

Crypto World News

Analyst Forecasts Bitcoin Price to Reach $650K as ETF Investors Implement Asset Manager Strategies

Onchain analyst Willy Woo forecasts that Bitcoin could reach $650,000 at the height of the bull market. This prediction is based on the assumption that investors in spot Bitcoin ETFs will fully invest their assets as guided by asset managers. Woo believes these estimates are conservative, suggesting Bitcoin will surpass the market cap of gold once ETFs are fully utilized.

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US Senators Propose New Legislation on Stablecoins

Senators Kirsten Gillibrand and Cynthia Lummis have crafted legislation to set guidelines for stablecoin issuers and users. The bill requires issuers to maintain a reserve of cash or cash equivalents at a 1:1 ratio to support the value of their stablecoin. In addition, it prohibits “unbacked, algorithmic stablecoins” and mandates that issuers and users refrain from using stablecoins for illegal or unauthorized purposes such as money laundering.

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Yield Curve Inversion Hits Historic 656 Days, Mirroring Patterns Before Stock Market Crashes

The U.S. Treasury yield curve, comparing yields of two-year and ten-year bonds, has been inverted for 656 days, paralleling situations before major stock market crashes in 1929, 1974, and 2008. This extended period of inversion has led to active discussions among market observers, who are speculating about the potential future effects on the U.S. economy.

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BRICS Nations Consider Stablecoins and CBDCs for Global Settlements

The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, along with Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia, is exploring innovative avenues for economic integration and international settlements. Russian Deputy Foreign Minister Sergey Ryabkov disclosed to TV BRICS that stablecoins and central bank digital currencies (CBDCs) are under scrutiny for facilitating inter-member transactions.

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S&P Global Suggests: New US Stablecoin Legislation Could Prompt Bank Market Entry, Tether’s Position Could Weaken

Standard & Poor’s Global Ratings has suggested that the recent stablecoin bill proposed by the US Senate could motivate banks to enter the stablecoin market. This move might lead to a decrease in Tether’s dominance. The proposed legislation aims to restrict issuance by non-banking entities to a maximum of $10 billion, thus providing banks with a competitive edge in the market.

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BlackRock’s Bitcoin ETF Records First Day with Zero Inflows

On April 24, BlackRock’s iShares Bitcoin Trust (IBIT) experienced its first day without any new inflows, marking a significant break in its performance since its introduction. Launched on January 11, IBIT had until that day seen a consistent influx of investments, amassing nearly $15.5 billion within just 71 days. This sudden halt in inflows on April 24 reflects a broader slowdown affecting the cryptocurrency market.

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FameEX Updates

Platform Events

1. FameEX New Listing ANTP. On April 18, 2024, FameEX announced the winners of the “FameEX New Listing ANTP: Share 100,000 ANTP Airdrops” event. A total of 5,089 users signed up to participate in the event, and all winners have received their rewards.

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2. Amplify Your Solana Potential on FameEX. From March 26 to April 5, 2024, FameEX launched the “Amplify Your Solana Potential on FameEX: Join to Share 60,000 USDT Giveaway” event that attracted 10,068 participants. Congratulations to all winners who have received their rewards!

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3. FameEX New Listing LCE. From April 25 to May 2, 2024, FameEX launched the “FameEX New Listing LCE: Join to Share 10,000 LCE Airdrops” event. Users who fill in the form can win a 100 LCE airdrop bonus, with a total prize pool of 10,000 LCE. Rewards will be distributed on a first-come, first-served basis. For details, please check the announcement.

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4. FameEX New Listing TUSD. From April 8 to 15, FameEX launched the “FameEX New Listing TUSD: Grab Your Share of 20,000 USDT” event. A total of 8,706 users registered to participate, with 270 users winning prizes. For the specific list of winners, please refer to the announcement.

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New Listing

Five new tokens were listed on the FameEX spot trading zone during the period.

•  Low Carbon Ecology (LCE): LCE/USDT was listed on April 17, 2024.

• Tensor (TNSR) TNSR/USDT was listed on April 19, 2024.

• Pi4ur (PI): PI/USDT was listed on April 19, 2024.

• MO (MO): MO/USDT was listed on April 23, 2024.

• Ethena (ENA): ENA/USDT was listed on April 24, 2024.

New Futures Listing

One new token was listed on the FameEX perpetual futures trading zone during the period.

• Ethena (ENA): ENAUSDT was listed on April 24, 2024.

Trading Volume

• The FameEX platform ranked 46 th on CoinMarketCap on April 30, with a 24-hour trading volume of $342,520,463, an average liquidity of 622, and an average weekly visit count of 449,787. (Data source: CoinMarketCap) 

• As of April 30, the total assets in the risk reserve wallet amount to5,890,171.4 USDT. It is updated daily and can be viewed HERE in real-time.

Feature Upgrades

1. V3.4.5 APP Functionality Update and Optimization. On April 19, FameEX Android and iOS Enterprise versions were officially updated on the website. The Android version is now Android V3.4.5, and the iOS version is V1.1.1. This update primarily includes the following optimizations: 

• Optimized candlestick charts in landscape mode.

• Enhanced UI style of charts.

• Added interval editing selection feature.

• Added basic technical indicators for candlestick charts.

• Improved drag-and-drop loading effect.

• Added sliding effect for candlestick charts.

• Added chart height adjustment feature.

• Enhanced user experience for cross interaction.

1. V3.4.6 APP Functionality Update and Optimization. On April 30, the FameEX Android version was officially updated on the website. The Android version is now Android V3.4.6. This update primarily includes the following optimizations: 

• Upgraded the futures trading service to improve user experience.

• Enhanced the TP/SL feature for perpetual futures trading.

• Optimized the reverse position features for futures trading.

• Optimized the candlestick chart

Project Information

FameEX Research released the latest reports: LADYS (Milady Meme Coin), JTO (Jito), AXL (Axelar), SLERF (Slerf), and BOME (BOOK OF MEME).

FameEX Official Community

1. X (formerly Twitter): 97K, link: https://twitter.com/FameexGlobal  

2. Chinese X: 7,046 Followers, link: https://twitter.com/FameEXzh
3. YouTube: 1,720 Subscribers, link: https://www.youtube.com/c/FAMEEX

4. Telegram (Global): 147,962 Members, link: https://t.me/fameexgroup

5. Discord: 10,196 Members, link: https://discord.gg/V8yvKPxVCk

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