- Top ApolloX Gainer: HTUSDT (+27.96%)
- Top ApolloX Loser: JASMYUSDT (-18.63%)
Huobi Token (HT) has seen over 29% increase in the last 7 days, its price constantly spurred on by TRON founder Justin Sun calling to empower the coin. A recent major announcement was the merger of Huobi's Heco network with Justin Sun's TRON and BitTorrent networks, with a capital investment to encourage developers of these networks to work together. Meanwhile, JASMY token has fallen more than 16% over the last 7 days as trading volume continues to decline in the wider crypto market.
*Data cited from CoinMarketCap
Bitcoin (BTC) generally hovered above $19k this week, unusually stable as investors continued to consider high inflation, a downtrodden yen and a U.K. government in turmoil, which have caused volatility in traditional markets. Data showed that bitcoin’s 30-day price volatility is now almost identical to that of the U.K.’s currency. In the derivatives market, BTC open interest has increased $368 million while aggregated funding rates turned positive as compared to the previous week, as traders allow in some optimism at BTC’s lack of volatility. This week, a total of $179 million shorts were liquidated as compared to $225 million longs.
- Markus Thielen, head of research at strategy at Matrixport, claims traders can purchase ADA perpetual contracts and simultaneously sell ADA tokens in the spot market to safely pocket the funding rate, which has dropped to an average of -14% across major exchanges. (Learn more)
- Web3 development company Alchemy said that developers are “flocking,” to blockchains such as Ethereum, Polygon and Solana. Despite a 60% price plunge this year for ether, the use of smart contracts on Ethereum has increased by 40%. (Learn more)
- The Central Asian country of Kazakhstan has maintained its position as the third-biggest contributor to Bitcoin mining, contributing to 13.22% of the total Bitcoin hash rate below the United States and China. (Learn more)
- Gavin Wood, a longtime crypto developer who co-founded Polkadot after exiting the Ethereum Foundation in 2015, will step down from his CEO role to become ‘Chief Architect’ at Polkadot. (Learn more)
- Hackers took over Gate.io’s Twitter account and changed the website URL, putting over 1 million users at risk of losing funds to an ongoing fraudulent Tether giveaway. (Learn more)
- Many crypto proponents including Founder of ShapeShift, Erik Voorhees, and Co-Founder of Bankless, Ryan Sean Adams, delivered pointed criticism about CEO of FTX Sam Bankman-Fried’s heightened importance of OFAC in his latest proposal for a regulatory framework for crypto. (Learn more)
- Messaging app Telegram will soon offer usernames via a platform on The Open Network (TON) blockchain, which will be rolled out soon. (Learn more)
- New meme tokens referencing articles in the English language were created over the past week after Ethereum co-creator Vitalik Buterin joked about them on Twitter. One of the most-traded tokens, THE, has seen $10 million in on-chain trading volume, surging over 1,000% in the past few days. (Learn more)
- The floor price of BAYC’s metaverse project Otherdeed NFTs crashed more than 25% in three days from 1.65 ETC to 1.25 ETH, according to data site Nansen. (Learn more)
What’s New at ApolloX
- Daily Rewards Program Adjustment - The minimum trading volume for Daily Rewards Program has been adjusted to 500 USDT effective October 23, 2022. (Learn more)
- ApolloX & Helio Protocol - ApolloX will hold a Twitter Space with Helio Protocol on October 25, 2022 10:00 (UTC)! (Join now)
- Multi-Assets Mode Update - Users can now use HAY and eight other collateral under Multi-Assets Mode on ApolloX DEX. (Learn more)
- New Spot Trading Pair - ApolloX DEX has listed the HAY/USDT spot trading pair! (Trade now)
- ApolloX Merch on CMC - Exclusive ApolloX T-Shirts and Caps are now available on CMC Diamond Store! (Redeem now)
- 1st Anniversary Carnival - The minimum trading volume has been adjusted from 10,000 USDT to 8,000 USDT. (Learn more)
- New Perpetual Contract - ApolloX DEX now supports trading of APTUSDT with up to 50x leverage. (Trade now)
- Tick Size Updates - Tick size for FTMUSDT and DARUSDT has been adjusted to 0.0001. (Learn more)
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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