- Top ApolloX Gainer: APTUSDT (+101.76%)
- Top ApolloX Loser: N.A.
Aptos chain’s APT token rallied 96.29% in the last 7 days, possibly influenced by positive price action across crypto markets and PancakeSwap DEX (the top DEX on Aptos) voting to continue deployment on Aptos.
*Data cited from CoinMarketCap
Bitcoin (BTC) price rallied this week in its best performance since the start of 2023, starting at $17.2k but closing the week significantly closer to $21k. In the derivatives market, BTC open interest increased significantly by $1.2 billion this week as positive price action spurred on trader optimism. Likewise, aggregated funding rates continue positive, indicating short-term bullish sentiment on the coin’s price. In the last 7 days, a whopping $1.19 billion of BTC shorts were liquidated, with $492 million liquidated on January 14 alone when BTC broke $20k.
- Former President of FTX US Brett Harrison accused Sam Bankman-Fried via Twitter of “gaslighting and manipulation,” claiming he was isolated as a leader while working to build out FTX’s presence in the U.S. (Learn more)
- FTX attorney Andrew Dietderich disclosed that SBF reportedly ordered co-founder Gary Wang to open a $65 billion “secret backdoor line of credit” for Alameda Research, financed with FTX customers’ funds. (Learn more)
- $72k of Alemada funds were liquidated on Aave after consolidating funds into a single wallet on January 12. (Learn more)
Investment Talk & Policy
- Creditors of crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and would prefer to liquidate the company. (Learn more)
- The Bank of Thailand has disclosed plans to allow virtual banks to operate in the country. The central bank says that applications will be available later in 2023 allowing virtual banks to act as financial services providers. (Learn more)
- Digital asset management company Grayscale blasted the U.S. SEC for its "illogical" and "fundamentally unreasonable" argument against approving a spot bitcoin ETF. (Learn more)
- The Polygon blockchain will undergo a hard fork on January 17 to address gas spikes and chain reorganization issues that have affected user experience. (Learn more)
- Crypto exchange Crypto.com announced it will lay off 20% of its workforce, citing post-FTX market conditions. Last summer, Crypto.com let go of hundreds of employees above the publicly disclosed figure of 260. (Learn more)
- Coinbase Global is cutting jobs and closing down most of its exchange operations in Japan. (Learn more)
- The price of SOL has more than doubled this month, rising more than 58 percent to $23.70 in the last seven days, according to CoinGecko. It also saw its highest trading volume since the week of the FTX collapse, which crashed Solana in November. (Learn more)
Digital Assets & Web3
- Blue-chip NFT project Azuki has launched a virtual city called Hilumia in conjunction with its one-year anniversary. Trading volume spiked 86% on the day of the announcement. (Learn more)
- An NFT influencer known as NFT God claims to have lost a huge part of their net worth in NFTs and crypto after accidentally downloading malicious software found via a Google Ad search result. (Learn more)
- The Solana Foundation has disclosed a security incident involving its email service provider Mailchimp. An “unauthorized actor accessed and exported certain user data” including user's names and Telegram usernames. (Learn more)
What’s New at ApolloX
- ALP Launch - ApolloX has launched the new liquidity provider token ALP. Buy and stake ALP to earn high yield! (Buy now)
- ALP Whitelist Pass Benefit - Aside from profiting from ALP asset value increases and normal ALP staking rewards, whitelisted users can earn an additional 1,000 APX when they buy and hold ALP for min. 30 days! (Stake now)
- CEX Wind Down - ApolloX CEX will officially shut down on Jan. 16, 2023. Users will no longer be able to access CEX after Jan. 16. (Learn more)
- DEX Engine Partnership - ApolloX is pleased to announce the latest partnership for the DEX Engine with Dives Defi. (Learn more)
- DAO Proposal 7 Passes - The proposal created on 4th January 2023 on Snapshot to adjust the trading rewards amount has passed for Option 2. (Learn more)
- Perpetual Contract Update - The margin tiers of the GALAUSDT Perpetual Futures Contract have been adjusted on 9 January, 2023. (Learn more)
- ApolloX New Year Campaign - Enable ApolloX DEX notifications via email and stand a chance to win $50 APX! (Bind now)
- Enable Email Notifications - Learn how to enable email notifications for your ApolloX DEX trades and always keep updated on everything important. (Enable 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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