- Top ApolloX Gainer: NEARUSDT (+49.14%)
- Top ApolloX Loser: LRCUSDT (-13.34%)
Funding rates from several major exchanges have gone negative last week. This indicates that the demand for leveraged bets has taken a hit. Traders are not in a rush to add to their positions.
Open interest for Bitcoin and Ethereum Futures have slightly decreased from last week, currently hovering around $12B for BTC and $6.7B for Ethereum respectively.
- A committee consisting of representatives from Pakistan’s government and central bank has submitted a document to the provincial court to ban the use of cryptocurrencies. (Learn More)
- Rio De Janeiro, Brazil's second-most populous city, plans to allocate 1% of its treasury reserves to cryptocurrencies. (Learn More)
- The Bank of America has expressed future optimism for Solana, analogizing it as the “Visa of the digital asset ecosystem” due to its ability to facilitate large amounts of transactions. (Learn More)
- Following LooksRare’s official launch on January 10, daily volume for this OpenSea competitor has already exceeded $394M. However, DappRadar has noted potential wash trading for Meebits, a premier NFT collection from the creators of Cryptopunks. (Learn More)
- Mobile payment service Cash App has integrated the Bitcoin Lightning Network, a decentralized layer 2 protocol for faster and cheaper Bitcoin transfers. Cash App has over 36M users across the United States and the United Kingdom. (Learn More)
- NEAR hits an all-time high, doubling in price over the past month. Analysts say that its surge is due to some thinking the token has been undervalued and new developments on the protocol. (Learn More)
- Pudgy Penguins NFT Project voted out its founders after they allegedly failed to deliver on stated goals and drained the treasury of funds. (Learn More)
- Tesla has started accepting cryptocurrency Dogecoin as payment. Click to see the official FAQ. (Learn More)
- Walmart may enter the Metaverse with plans to create its own cryptocurrency and collection of NFTs. Several new trademarks have been filed that indicate its intent to make and sell virtual goods. (Learn More)
Updates at ApolloX
- Stake CAKE, Earn APX - ApolloX’s Syrup Pool on PancakeSwap is live! You can now stake CAKE to earn more APX. (Stake Now)
- ApolloX DEX Leaderboard - Every week, the top 100 ranking users can win APX and USDT rewards from a $40,000 prize pool. (Enter Leaderboard)
- $1,000 APX New Year Airdrop Giveaway - One more week to enter! Simply complete simple tasks and register to qualify. (Enter Now)
- Meme and Win - Love memes? Send us your best crypto memes in ApolloX Discord. The best 3 memes will win $30 APX each. (Meme It)
The Week Ahead
- Community Rewards Program - It’s not too late to join! Level up to APX Silver in order to increase your odds of getting whitelisted for our upcoming product launch. (Join Community)
- Trading Rewards Program - The 3rd Epoch of Trading Rewards Program is live! (Trade Now)
- Our Latest Poll - Tell us if you want to have a higher leverage for BTCUSDT futures contract. (Vote Now)
- Up Next On The Blog - Stay tuned for the top trending topics around NFTs this week and vote in our poll on Thursday to decide our next #ApolloXplains blog 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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