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FameEX’s Dedication to Ensuring a Seamless Trading Experience for Newbies (Issue 2, May 2024)
2024-05-31 18:20:50
Overview
Let’s catch up on the highlights from May 16 to May 31, 2024. FameEX has focused on improving the UX/UI experience on the App and website, and has optimized tutorials, markets, and the futures trading guide to provide smooth trading services for crypto newbies. For more details, check out this issue of FameEX Biweekly and find out what’s new on FameEX!
Crypto World News
JPMorgan Chase Predicts Bitcoin Mining Costs Will Fall to $45,000
JPMorgan Chase reported on Thursday that the estimated cost of Bitcoin mining has decreased to $45,000, as inefficient miners exit the market. The firm had anticipated a significant reduction in computing power post-halving due to unprofitable miners leaving the network. This exit is occurring, albeit with some delays, according to their latest research findings.
Grayscale May Be Purchased by a Global Asset Manager or Rival Firm
Cryptocurrency industry insider @AP Abacus shared on the X platform that sources anticipate Grayscale might be acquired by a global asset management firm or a competitor. This speculation stems largely from the track record of Grayscale’s new CEO, Peter Mintzberg, who is recognized for his merger and acquisition expertise at Goldman Sachs and BlackRock.
FameEX Hot Topics | Fed Survey Estimates 18M Americans Used or Owned Crypto Last Year
The number of U.S. adults reporting crypto ownership or usage dropped to around 18 million last year, according to the latest annual household survey from the Federal Reserve (Fed). In the 12 months leading up to October last year, 7% of surveyed U.S. adults reported using crypto — down from 10% in 2022 and 12% in 2021, as per the Fed’s Survey of Household Economics and Decisionmaking (SHED) published on May 21.
SEC Approves 19B-4 Form for Spot Ethereum ETF, Official Trading Time Pending
The U.S. Securities and Exchange Commission (SEC) has approved the 19B-4 form for the spot Ethereum ETF, according to SEC documents. However, trading cannot commence until the S-1 form is also approved. The timeline for this approval has not yet been determined.
Global Bitcoin ETFs Hold Over 1 Million Bitcoins, U.S. Funds Dominate
Global Bitcoin exchange-traded funds (ETFs) now collectively hold over 1 million Bitcoins, distributed across the U.S., Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia. Leading the pack, U.S. ETFs hold significant portions, with Grayscale GBTC at about 292,000 BTC, BlackRock IBIT at about 280,000 BTC, and Fidelity FBTC at 162,000 BTC, totaling approximately 734,000 BTC.
FameEX Updates
Platform Events
1. FameEX Bull Market Gala. The “FameEX Bull Market Gala: Share 30,000 USDT to All Users”, held from April 29 to May 9, was wrapped up with 8,569 participants. All rewards have been distributed.
2. FameEX New Listing CXCT. From May 17 to May 23, FameEX launched the “FameEX New Listing CXCT: Join to Share 100,000 CXCT Airdrops” event. Users who fill in the form are eligible to earn a 100 CXCT airdrop from a prize pool of 100,000 CXCT. Airdrops will be distributed on a first-come, first-served basis. For details, please check the announcement.
3. FameEX Pizza Party. From May 21 to May 31, FameEX launched the “FameEX Pizza Party: Deposit and Trade to Win Your Slice of $30,000” event. Users can participate in the event through deposits, trades, and cumulative trading volumes to win corresponding rewards. For details, please check the announcement.
4. FameEX Sparks Fire for HTE Gala. From May 28 to June 3, FameEX is launching the “FameEX Sparks Fire for HTE Gala: Deposit & Trade to Win Big With $5,000 HTE Airdrops” event. Users who deposit any tokens or complete HTE spot trading will earn corresponding airdrops. For details, please check the announcement.
New Listing
Ten new tokens were listed on the FameEX spot trading zone during the period.
Hooked Protocol (HOOK): HOOK/USDT was listed on May 16, 2024
SafePal (SFP): SFP/USDT was listed on May 21, 2024
Galxe (GAL): GAL/USDT was listed on May 21, 2024
CX Cash Token (CXCT): CXCT/USDT was listed on May 21, 2024
Mask Network (MASK): MASK/USDT was listed on May 22, 2024
Reef (REEF): REEF/USDT was listed on May 22, 2024
Radio Caca (RACA): RACA/USDT was listed on May 23, 2024
HiveTrade (HTE): HTE/USDT was listed on May 28, 2024
MAGA (MAGA): MAGE/USDT was listed on May 29, 2024
ICB NETWORK (ICBX): ICBX/USDT was listed on May 31, 2024
New Perpetual Futures Listing
FameEX launched two new trading contracts on the FameEX Perpetual futures trading area during the period.
Avalanche (AVAX): AVAXUSDT was listed on May 30, 2024
Near Protocol (NEAR): NEARUSDT was listed on May 30, 2024
Trading Volume
The FameEX platform ranked 36 on CoinMarketCap on May 31, with a 24-hour trading volume of $501,285,106, an average liquidity of 677, and an average weekly visit count of 1,083,030. (Data source: CoinMarketCap)
As of May 31, the total assets in the risk reserve wallet amount to6,217,643.57 USDT. It is updated daily and can be viewed HERE in real-time.
Feature Upgrades
1. Added tutorials for futures trading on the App. On May 17, FameEX introduced the tutorial function and its entry.
2. Introduced a futures portal and the trading guide function. On May 20, FameEX introduced a futures portal page and a guide for new users to access the futures trading page.
3. Optimized the spot markets page on the website. On May 27, FameEX enhanced the markets page.
4. Optimized the Spot/Margin trading page on the App. On May 28, FameEX refined the UI for spot, margin, grid, and DCA functions.
Optimized the UI Style: Improved the overall user interface design for a more user-friendly experience.
Enhanced Trading Page: Introduced a pop-up screen of candlestick charts, allowing users to set the preference layout at the top or bottom.
Order Management: Added the function to cancel all orders at once.
Asset Management Portal: Introduced a portal that displays assets corresponding to the current pair of currencies. Clicking on it provides quick access to the asset details page of the selected currency.
Order Book Enhancement: Added the display of the long/short ratio and optimized the visual effect for better clarity.
Trading Pairs List Optimization: Improved the list of trading pairs to include the name of trading pairs, turnover, latest price, and 24-hour ups and downs sorting.
Additional Functionalities: Introduced several new features including:
Reference for buyable/sellable quantity for spot orders
Details page for individual trading fees within order history
Entry point for the trading fee page
Access to online customer service
Project Information
FameEX Research released the latest reports: FXS (Frax Share), CEEK (CEEK VR), and CRO (Cronos).
FameEX Official Community
1. X (formerly Twitter): 98K Followers, link: https://twitter.com/FameexGlobal
2. Telegram (Global): 157,743 Members, link: https://t.me/fameexgroup
3. Discord: 13,997 Members, link: https://discord.gg/V8yvKPxVCk
For more official community updates, please follow:
Chinese X: 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!
