- Top ApolloX Gainer: MTLUSDT (+14.26%)
- Top ApolloX Loser: DYDXUSDT (-19.66%)
Crypto fintech company Metallicus, which owns crypto payments Metal Pay and ecosystem token MTL, rose 12% in the last 7 days as investors accumulated the token. This comes after Metallicus announced its new payments solution Metal Pay API. Meanwhile, perpetual DEX dYdX saw native token DYDX fall over 17% in the last 7 days. There has been no major news.
*Data cited from CoinMarketCap
Bitcoin held steady this week, trading in the narrow range of $16.4k to $17k for the majority of the week as traders grapple with macroeconomic uncertainty and an uncertain market outlook for next year. In the derivatives market, there were minimal changes to BTC open interest as compared to last week, illustrating a lower realized volatility and the quiet price action that has characterized BTC in the past month. This week, close to $76 million shorts and over $124 million longs were liquidated.
Investment Talk & Policy
- The U.S. SEC is increasing its scrutiny of cryptocurrency audits to warn investors who may feel assured by audits such as proof-of-reserve reports. (Learn more)
- TRON founder Justin Sun had more than $580 million BTC in crypto asset manager Valkyrie at one point in August. This was over 90% of assets at one of Valkyrie’s largest divisions. (Learn more)
- Brazil President Jair Bolsonaro has approved a crypto regulation bill that would establish a crime of fraud involving virtual assets. This also creates a “virtual service provider” license which is to be requested by companies. (Learn more)
- Waves blockchain founder Sasha Ivanov has asked crypto exchanges to deactivate futures markets tied to Waves' native WAVES. (Learn more)
- Decentralized leveraged trading platform Defrost Finance had its Defrost v2 hit with a $12 million flash loan attack. (Learn more)
- Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to U.S. federal fraud charges. Ellison said she knowingly misled lenders about how much the firm had been borrowing, according to Bloomberg. (Learn more)
- Crypto exchange OKX has published its second proof-of-reserves report and promised a monthly update. The proof-of-reserves method that was widely adopted by crypto exchanges has been criticized by the SEC. (Learn more)
- Paxos has successfully reclaimed $20 million worth of gold tokens held in the wallets of an unknown attacker who hacked FTX in November. (Learn more)
- Hong Kong’s government has arrested two men for suspected involvement in digital asset fraud on the AAX exchange. (Learn more)
Digital Assets & Web3
- The Marshall Islands announced that the Decentralized Autonomous Organizations Act of 2022 has officially been passed into law. The law will allow DAOs to incorporate as DAO limited liability companies (LLCs). It also enables legal entities registered in the country to formally adopt DAO structures and governance tools. (Learn more)
- Encrypted messaging protocol Mask Network has acquired Pawoo.net, the second largest server on open-source social media site Mastodon. (Learn more)
- A recent report by Dune Analytics revealed that wash trading accounted for 58% of the total NFT trade volumes on Ethereum in 2022. (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)
- Coming Soon - There’s a new ApolloX high-yield product coming soon! Stay tuned to official ApolloX social channels. (Learn more)
- Perpetual Contracts Updates - ApolloX has adjusted the margin tiers of MTLUSDT and delisted DARUSDT as of 21 Dec. (Learn more)
- CEX to DEX Guide - Read this helpful guide to learn more about how you can transition from CEX to DEX as a beginner! (Learn more)
- ApolloX & LaunchZone - Read our latest case study with LaunchZone’s LZ Futures, powered by ApolloX DEX Engine! (Read more)
Trading & Competitions
- ApolloXmas Whitelist Gift - ApolloX is giving our users an opportunity to get whitelisted for an upcoming high-yield product launch! Complete simple tasks via Galxe to get your whitelist pass now! (Get Now)
- ApolloX & DEXy.Trade - Deposit and trade on DEXy to share $2,000 in rewards! Ends Dec. 30. (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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