FameEX Morning Crypto News Recap | August 13, 2024

Harris Leads Trump in Polls, Stirring Concerns in Crypto Markets

Bernstein analysts suggest that Harris's lead over Trump in various polls, including Polymarket, has unsettled the cryptocurrency market, contributing to a recent drop in BTC prices. The report interprets current market sentiment as viewing a Trump victory as bullish and a Harris victory as bearish, based on recent reactions.

U.S. Bitcoin ETFs Have Attracted $19 Billion in Net Inflows This Year, Surpassing Expectations

Bloomberg ETF analyst Eric Balchunas noted that despite Bitcoin's recent decline, its spot ETFs have seen record net inflows of $19 billion year-to-date. This strong performance, even after accounting for all factors, highlights the resilience and continued investor interest in Bitcoin ETFs.

US Investors Likely to Continue Offering Liquidity and Support for the Crypto Market

On August 12, QCP Capital noted that despite a strong recovery, BTC is struggling to maintain above $60,000. After two sharp corrections this year, BTC rebounded to over $70,000 within a month. With continued positive inflows into BlackRock's ETF, U.S. investors are expected to provide ongoing liquidity and support.

Crypto Activity Surges: DeFi, Bridge Volumes, and Stablecoin Supply Reach Record Highs

Artemis data shared by on-chain analyst Peter Schroeder indicates a significant increase in cryptocurrency activity over the past week. On August 5, DeFi transaction volume reached its highest level since March 2023, making it the fourth most active day in DeFi in three years. Bridge trading and perpetual contract volumes also hit their highest levels since March 2023, while stablecoin transfers reached an all-time high.

Survey Reveals 9% of Democrats Considering Cryptocurrency Investment in the Next Year

A Paradigm poll shows that 9% of Democrats are "very likely" to invest in cryptocurrency within the next year. Additionally, 13% of self-identified Democratic registered voters remain undecided about supporting Harris in upcoming elections, indicating a degree of uncertainty within the party regarding her candidacy.

Tether Ventures into AI, Taking on Microsoft, Google, and Amazon

Tether CEO Paolo Ardoino announced the company's expansion into artificial intelligence, aiming to compete with giants like Microsoft, Google, and Amazon. Tether has acquired a majority stake in neural implant startup Blackrock Neurotech and invested in data center operator Northern Data Group, whose infrastructure supports AI model training. Tether's move highlights its push into new, unfamiliar fields.

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