FameEX Biweekly: FameEX New Token Listing Soars 1982.20% in the First 24 Hours! (October 2024, Issue 1)

Overview:

Catch up the highlights from Oct 1 to Oct 15, 2024. During this period, the newly listed token LULUCHAIN (LULU) on the FameEX platform surged by 1982.20% in a short period, ranking first in the new listing leaderboard. As the U.S. election approaches, positive market sentiments are gradually building, boosting the overall market. Stay updated with the latest trends and uncover hidden value opportunities. For more insights, check out this issue!

Crypto World News

Standard Chartered Bank Recommends BuyingBitcoin on Dips

On October 4, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated that while gold is a geopolitical hedge, Bitcoin (BTC) is not effective against geopolitical risks. However, BTC can hedge against traditional financial issues like bank failures and de-dollarization. Therefore, Kendrick recommends investors buy BTC during price dips.

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Long-term Bitcoin holders cut their positions, dropping from $19 billion to $12 billion

CryptoQuant analysis reveals that long-term Bitcoin holders, those holding for over 155 days, have reduced their positions from $19 billion to $12 billion. In contrast, short-term holders have seen a significant increase, with their positions rising by $6 billion recently, indicating a shift in market dynamics.

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Bitcoin Rises as Key Solution for Middle-Class Amid Dollar Decline

Bitcoin first emerged over three election cycles ago, yet the 2024 United States presidential election marks the first time it and cryptocurrency in general has gained significant attention as a key election issue. Advocates of Satoshi Nakamoto’s vision have evolved into a powerful group of single-issue voters, passionately supporting the cause despite recent challenges like the bear market and the downfall of prominent crypto exchange FTX. However, the tide seems to be shifting, with Bitcoin prices stabilizing and institutions like BlackRock, the largest asset manager globally, asserting that Bitcoin represents this generation's store of value. As the election campaign intensifies, the critical question remains: what role will this modern currency play in shaping the future of the world’s largest economy?

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Analyst Predicts Bitcoin To Reach $150K All-Time High This Cycle

Bitcoin's price is currently consolidating below its all-time high of $69,000, reached in 2021, and independent trader Bob Loukas believes this phase is setting the stage for an explosive period in its four-year cycle. In a post on X dated October 8, Loukas highlighted that Bitcoin will be closing the second year of its cycle next month, transitioning into the third year, which has historically been a time of significant upward momentum.  

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FameEX Hot Topics | Who Is Peter Todd, the Man HBO Claims to Be Satoshi Nakamoto?

Peter Todd is a well-known figure in the Bitcoin community and continues to be a core contributor to the blockchain. HBO’s documentary “Money Electric: The Bitcoin Mystery” controversially named Todd as Bitcoin’s pseudonymous creator, Satoshi Nakamoto. Despite the claim, Todd has consistently denied being Nakamoto. But it has undoubtedly become a hot topic recently.

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Fed Meeting Minutes: 50 Basis Point Cut Recommended

On October 10, the Federal Reserve released the minutes of the June Federal Open Market Committee (FOMC) policy meeting. The minutes indicated a proposed 50-basis-point rate cut to better align interest rates with the economy, though many members favored a 25-basis-point cut. There was significant disagreement regarding the economic outlook and policy stance. Some participants emphasized that reducing the restrictiveness of policy too late or too little could excessively weaken economic activity and employment. However, others cautioned that reducing policy restrictions too early or too much could stall or reverse progress in fighting inflation. The minutes also stated that it is essential to communicate that this should not be interpreted as a sign of a less optimistic economic outlook.

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FameEX News

Platform Events

1. New Listing Airdrop. The “FameEX New Listing for PEPA, POUPE, UB, and ICE: Trade to Share 100,000 USDT” event has been launched.From October 11, 2024 to October 17, 2024, all users can win corresponding rewards by completing new spot trading tasks. For more details, please view the announcement below.

View Announcement

2. Futures Carnival Event. The “Unlock the Uptober Futures Madness on FameEX: Win up to 1,000 USDT & 5,000 NEIRO” event has been launched. From October 12, 2024 to October 21, 2024, all users can win rewards by completing deposit and futures trading tasks. For more details, please view the announcement below.

View Announcement

New Listing

Three new tokens were listed on the FameEX Spot during the period.

◆ Poupe Coin (POUPE): POUPE/USDT was listed in the spot trading zone on Oct 3, 2024.

◆ LULUCHAIN (LULU): LULU/USDT was listed in the spot trading zone on Oct 11, 2024.

◆ Simon’s Cat (CAT): CAT/USDT was listed in the spot trading zone on Oct 13, 2024.

New Listing Gainer

Over the past two weeks, the newly listed token LULUCHAIN (LULU) on the FameEX platform saw a maximum 24-hour increase of 1982.20%, ranking top one in the FameEX new listing leaderboard.

Feature Update

FameEX integrated SPACE ID's Web3 Name SDK service on October 7, 2024, allowing all users to easily create their Web3 identities and withdraw assets to Web3 name addresses (including .bnb and .arb names), enhancing the overall user experience.

Trading Volume

◆ As of October 15, FameEX's highest ranking on CoinMarketCap hit 33, with a 24-hour trading volume of 1,966,075,460, an average liquidity of 732, and a weekly average of 1,200,480 visits. (Data source: CoinMarketCap)

◆ As of October 15, the total assets in the FameEX insurance fund are 7,642,528.09 USDT. It is updated daily and can be viewed HERE in real-time.

FameEX Official Community

1. X (formerly Twitter): 113K Followers. Link: https://twitter.com/FameexGlobal 

2. Telegram (Global): 106,017 Members. Link: https://t.me/fameexgroup 

3. Discord: 15,123 Members. Link: https://discord.gg/V8yvKPxVCk 

Follow more official channels on:

Chinese X (formerly Twitter): 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!