- Top ApolloX Gainer: N.A
- Top ApolloX Loser: AXSUSDT (-25.32%)
Bitcoin crashed to $42k on January 5th, Wednesday, causing over $1b in crypto liquidations mostly from long positions. As traders continued to leave short positions open due to funding rates in their favor, on January 7th, Friday, the price dipped further to nearly $41k and triggered additional liquidations of over $300m and decrease of open interest.
Funding rates calmed down to neutral levels on Friday after over 100,000 traders were liquidated.
- Opyn has invented a new financial derivative called Squeeth (squared ETH). It is the first power perpetual and gives traders perpetual exposure to ETH². (Learn More)
- Analysts are divided on the impact of a quicker Federal Reserve’s policy tightening on Bitcoin, which has slipped to a three-month low. (Learn More)
- Autonomy Network has launched its DeFi protocol AutoSwap to provide decentralized exchanges with features like loss protection, stop loss and limit orders. (Learn More)
- Crypto incubator Magnet DAO raised $10M in a public sale on December 28 and recently launched its protocol offering staking and minting of its native token. (Learn More)
- NFT marketplace OpenSea says it is now valued at more than $13B following a new investment of $300M. (Learn More)
- Several crypto companies including Binance.US and FTX.US will build offices in Portals, a metaverse platform built on the Solana blockchain. (Learn More)
- Samsung has launched a metaverse store in Decentraland, a replica of its iconic New York physical store. (Learn More)
- Taiwanese pop star Jay Chou is the latest celebrity to issue NFTs, selling 10,000 ‘digital bears’ designed by his fashion brand. (Learn More)
Updates at ApolloX
- ApolloX News Station - We’ve launched ApolloX News Station, your one-stop crypto news platform! Follow @APXNewsStation for the latest education content and hottest projects. (Follow Now)
- New Trading Pairs - You can now trade BNBUSDT, GALAUSDT and NEARUSDT on ApolloX. (Trade Now)
- $1,000 APX New Year Airdrop Giveaway - Everyone is eligible to participate! Simply complete simple tasks and register to qualify. (Enter Now)
- ApolloX at BSC Webinar - Our founder, Captain X, recently spoke at a BSC Webinar: From TradFi to Sophisticated DeFi. (Watch Here)
- Peep the latest on our NFTs - Caught our latest tweet on the ApolloX Rocket NFTs? Hint: Something exciting is coming! (Read More)
The Week Ahead
- Trading Rewards Program - The 2nd Epoch of Trading Rewards Program is live! From this Wednesday, you can use APX as trading fees. (Trade Now)
- Up Next On The Blog - Read about $LUNA and keep an eye out for our poll this week to decide the next #ApolloXplainsCrypto article! (Visit Blog)
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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