- Top ApolloX Gainer: ATOMUSDT (+23.41%)
- Top ApolloX Loser: N.A.
Native token ATOM of the Cosmos Network, a decentralized network of independent, scalable, and interoperable blockchains, has bounced 24% over the last 7 days, according to CoinMarketCap data. Several tokens affiliated with it have also rallied. While the Cosmos Network is redesigning its delegation strategy and it has announced upcoming integrations with Polkadot and the Ethereum Beacon chain after the Merge, there has been no clear reason attributed to the surge.
Bitcoin (BTC) traded sideways this week, spending the weekend in a tight trading range below $20K. In the derivatives market, ether derivatives volumes have surpassed bitcoin’s ahead of the Merge. ETH open interest ballooned to over $8.43 billion this week from under $4 billion in July. Aggregated funding rates remain negative, suggesting that short trades are still dominant as investors possibly expect that the Merge will face delays, or are hedging against their long spot ether positions. ETH liquidations this week are also double that of BTC’s - with over $277 million short positions and $230 million long positions, in comparison to $74 million shorts and $103 million longs.
- The parent company of Latin American exchange Mercado Bitcoin, 2TM, has announced a second round of layoffs. In June, the company had let go of 12% of its workforce. (Learn more)
- Celsius has filed a motion asking the courts to authorize the release of $225 million in customer funds. (Learn more)
- The KlimaDAO announced that it is collaborating with U.S. politicians to provide a legal framework for DAOs in the Lummis-Gillibrand Responsible Financial Innovation Act. (Learn more)
- Binance has identified two suspects that may be responsible for orchestrating the $265,000 exploit on KyberSwap. (Learn more)
- Decentralized crypto derivatives exchange dYdX received overwhelming backlash after requesting for users to verify their identity via a webcam for a deposit bonus promotion. (Learn more)
- The number of Ethereum unique addresses has increased a daily average of 70,000 over the last 30 days. Numbers of staked ETH have also grown to new highs. (Learn more)
- Consumer electronics giant LG is releasing an NFT marketplace called LG Art Lab that plugs into the Hedera Network, which LG supports. (Learn more)
- NFT project Y00ts has delayed its highly anticipated mint by an additional day, citing a “blocker bug” as the reason for the delay. Y00ts generated hype through a publicly announced whitelist that has included prominent NFT influencers and celebrities. (Learn more)
What’s New at ApolloX
- ApolloX Turns One - We turn 1 this year! Watch this video commemorating our journey. (Watch here)
- Ethereum Merge Notice - ApolloX DEX will suspend deposits and withdrawals for an hour prior to the upgrade, approximately at 2022-09-15 00:30 UTC. Trading will be unaffected. (Learn more)
- DEX Leaderboard Adjustments - Rewards of both Referral and PnL Leaderboards will be adjusted to $3,000 effective September 5, 2022. (Learn more)
- Unlock APX on DAO - The 3rd DAO proposal has passed with a minimum 30% penalty ratio for those who unlock APX in advance from ApolloX DAO! The unlock function has been added. (Learn more)
Trading & Contests
- ApolloX $500 Anniversary Giveaway - Complete simple tasks to win $50 APX/USDT! Both CEX and DEX users can participate. (Join now)
- SafePal x ApolloX - Make a first trade of any amount on ApolloX with SafePal wallet and win from a $2000 USDT prize pool! (Trade now)
- Trade Featured Futures Contracts - Trade any of the featured pairs to win! Highest trading volume will win 50% of a $2,000 prize pool. (Trade now)
- Daily Rewards Program - Users who trade any contract on ApolloX DEX can claim 20 APX the next day! Limited to the first 1,000 users each day. (Trade now)
Risk Reminder: Crypto trading carries a risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of any financial product.
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