FameEX Morning Crypto News Recap | July 24, 2024

Seven US Senators Confirm Attendance at Bitcoin 2024 Conference

Alex Thorn, head of research at Galaxy Digital, revealed that at least seven U.S. senators will attend the Bitcoin 2024 conference in Nashville this week, underscoring the growing political interest in cryptocurrency.

Ethereum Long-Term Holders Receive Record Inflow of 714,000 ETH

CryptoQuant CEO Ki Young Ju reported a record inflow of 714,000 ETH, worth $2.4 billion, to long-term Ethereum holders' addresses yesterday. This figure includes custodial wallets but excludes trading platforms and miners, highlighting significant accumulation by long-term investors.

U.S. Ethereum ETFs Surpass $400 Million in Transaction Volume Within 2 Hours of Launch

In the U.S. stock market, nine Ethereum ETFs saw their total transaction volume exceed $400 million within two hours of listing, totaling approximately $436 million. Grayscale's ETHE led with $178 million, followed by BlackRock's ETHA with about $92.0145 million in transaction volume.

Tether CEO: USDT Becoming Global Payment System, Outpacing Bitcoin and Ethereum in Transaction Volume

Tether CEO Paolo Ardoino highlighted that USDT is becoming a global payment system, similar to a "digital dollar," and decoupling from other cryptocurrencies. Its significance is growing in high-inflation countries like Turkey, Argentina, and Brazil, with daily trading volumes often surpassing Bitcoin and Ethereum combined. USDT is also increasingly used for purchasing raw materials like cotton and gold.

13 U.S. Politicians Sign Agreement to Accept Crypto Donations

SupportCrypto, an on-chain donation platform, allows U.S. politicians to accept crypto donations on the Base chain. Supporters can donate using over 240 cryptocurrencies, including Bitcoin and Ethereum, or via credit cards. Thirteen politicians, including blockchain advocates Rep. Tom Emmer and Sen. Cynthia Lummis, have agreed to accept these donations.

Canada Becomes First G7 Country to Cut Interest Rates, Sparking Rapid Real Estate Market Reaction

Canada, the first G7 country to cut interest rates, has stimulated its real estate market. This has led to more deals between buyers and sellers, with benchmark house prices rising for the first time in 11 months in June and sales increasing for the first time since January.

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