- Top ApolloX Gainer: BNXUSDT (+22.43%)
- Top ApolloX Loser: FILUSDT (-29.08%)
BinaryX (BNX) rose 21% in the last 7 days, seemingly recovering from rumours that its developer team was dumping BNX. The GameFi project recently introduced a cyber incubation fund for blockchain games, possibly stoking confidence among users. Meanwhile, decentralized storage Filecoin (FIL) fell 28% in the last 7 days, continuing a downward trend. Some in the crypto community speculate that assets related to Digital Currency Group (DCG) Grayscale’s investment products are being dumped by the firm, including Filecoin and other assets like NEAR and Ethereum Classic.
*Data cited from CoinMarketCap
Bitcoin (BTC) ended a rollercoaster week near where it started. The coin saw optimism at the start of the week, rising from below $17k to a peak of $18.3k on Dec. 15, but soon sobered as the U.S. Federal Reserve slows rate hikes but stayed hawkish. Another fall came on Dec. 16 as audit firm Mazars suspended work for crypto exchange clients. Since then, BTC has traded flat at 16.7k. In the derivatives market, BTC open interest decreased by $102 million this week as compared to last week, and aggregated funding rates remain negative as markets remain risk-averse. Over $192 million short positions and over $372 million long positions — almost twice the amount of shorts — were liquidated this week. $206 million longs were liquidated on Dec. 16 alone.
Investment Talk & Policy
- Japan has approved a proposal to exempt crypto startups that issue their own tokens from paying around 35% in corporate taxes on unrealized gains. (Learn more)
- The province of San Luis in Argentina approved legislation for the issuance of its own USD-pegged stablecoin, dubbed the “Activo Digital San Luis de Ahorro”. It will be 100% collateralized in liquid financial assets of the province. (Learn more)
- Three Democratic groups have reportedly pledged to return over $1 million in political donations from Sam Bankman-Fried to investors that lost their funds due to FTX misappropriation. (Learn more)
- The Group of Central Bank Governors and Heads of Supervision (GHOS) of the Bank for International Settlements (BIS) have endorsed a global standard for banks’ exposure to crypto assets. The standard sets a limit of 2% on crypto reserves among banks and goes into effect Jan. 1, 2025. (Learn more)
- Solana-based DEX Raydium suffered a $2 million exploit on December 16 when an attacker managed to withdraw user funds from Raydium exchange pools. (Learn more)
- Mazars, the financial auditing firm behind Binance’s proof-of-reserves audit, has suspended all work for crypto firms “due to concerns regarding the way these reports are understood by the public.” (Learn more)
- Blockchain risk monitoring firm Solidus Labs reported that more than 350 fraudulent crypto tokens were created per day this year, a 41% increase from 2021. (Learn more)
Digital Assets & Web3
- A PitchBook analyst said that VC funding has been shifting away from centralized crypto services to companies focusing on expanding Web3. VCs invested an estimated $1.5 billion into Web3-based companies in Q3 2022. (Learn more)
- Ethereum co-founder Vitalik Buterin is raising alarms on Elon Musk’s recent wave of Twitter censorship. He states that the recent account bans are putting Twitter on “the path to authoritarianism.” (Learn more)
- Former U.S. President Donald Trump’s NFT card collectibles sold out a day after initial release on Friday. According to OpenSea, the collection’s floor price is about 0.19 ETH, or $230 at press time, more than double the original mint price. (Learn more)
What’s New at ApolloX
- CEX Wind Down - Take note of these key dates in the CEX wind down timeline! (Learn more)
- ApolloX DeFi Wallet - Learn how to set up the ApolloX DeFi Wallet for trading on ApolloX DEX! (Learn more)
- Perpetual Contracts Updates - ApolloX has delisted ETHWUSDT, OKBUSDT and HTUSDT as of 13 Dec. (Learn more)
- Tick Size Update - Tick size for GALAUSDT has been adjusted to 0.00001 from 14 Dec 2022 02:00 (UTC). (Learn more)
Trading & Competitions
- Experience DEX & Win - To thank loyal CEX users and encourage more to experience ApolloX DEX, ApolloX is hosting a DEX campaign for users to win up to 18,000 APX! (Trade now)
- ApolloX & BNB Chain Football Fiesta - Earn up to 1,065 APX in rewards daily when Glory Pass holders deposit and trade on ApolloX DEX! (Trade now)
- ApolloX & ApeSwap Pro - Trade on ApeSwap Pro to share $2,000 in rewards! Ends Dec. 20. (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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