- Top ApolloX Gainer: LUNAUSDT (+10.45%)
- Top ApolloX Loser: FTMUSDT (-20.77%)
Market Analysis
Bitcoin briefly spiked following news of United States President Joe Biden’s cryptocurrency executive order, but corrected below $40K by end of the week. As compared to the previous week, open interest increased by close to $600M. However, funding rates remain negative as long traders adopt a more pessimistic stance and sentiment continues to lean bearish. Volatile price action this week caused close to $82M short positions and more than $69M long positions to be liquidated on Wednesday and Thursday alone, respectively.
Source:
CryptoQuant
CryptoBites
Russia-Ukraine Conflict & Crypto
- The European Commission has clarified that crypto assets will fall under additional sanctions targeted against Russia and Belarus. (Learn More)
- Crypto firms in the United Arab Emirates (UAE) are being deluged with requests to liquidate billions of dollars in crypto as Russians seek a safe haven for their fortunes. (Learn More)
Investment Talk
- U.S. President Joe Biden signed a cryptocurrency executive order on Wednesday. The measures focus on six key areas: consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation. (Learn More)
- South Korean presidential candidate Yoon Suk-Yeol has won the presidential election. He is expected to deregulate bitcoin and other cryptocurrency markets to strengthen South Korea’s economy. (Learn More)
- Bitcoin derivatives data show that market participants are cautious in this period of uncertainty. (Learn More)
- The Financial Conduct Authority has ordered all crypto ATMs in the United Kingdoms to shut down. (Learn More)
Projects
- Terra (LUNA) has surpassed Ethereum to become the second most staked asset. (Learn More)
- The Ethereum 2.0 staking contract now holds 10 Million ETH, worth over $26B. (Learn More)
- Polygon's blockchain network was down for roughly eight hours on March 11 due to a technical upgrade that went wrong. (Learn More)
Web3.0
- CryptoPunks NFT sales have surged 1,200% after the creators of Bored Ape Yacht Club acquired its IP. (Learn More)
- American snack brand Slim Jim recently filed trademarks with plans to launch NFTs and a virtual store. (Learn More)
- DeFi services firm Cake DeFi has launched a $100M venture arm to fund Web3, gaming and fintech initiatives. (Learn More)
Updates at ApolloX
- 8th Epoch Trading Rewards Program - The rules of the 8th epoch are consistent with the 7th Epoch. (Trade Now)
- ApolloX Newsletter - Access the ApolloX Newsletter on CoinMarketCap’s Cryptown. (Read Here)
- Learn & Earn (11-15 Mar) - Answer some simple questions and make a trade on ApolloX DEX to win! (Join Now)
- Plan Our Next Collaboration - Recommend crypto projects or communities to work with based on the criteria. Win $15 USDT/APX for every qualified submission. (Recommend Now)
The Week Ahead
- New User Bonus - Win $100 when you’re the 100th new signup for the day. (Join Now)
- 50% Welcome Back Cash Bonus - Trade on ApolloX CEX during the promotion period and win cash rebates and exclusive ApolloX merchandise! (Trade Now)
- Share Your Fave, Win $200 APX - Share your favourite ApolloX News Station article and win $10 APX. (Join Now)
- Follow & Win - Follow ApolloX’s official TikTok account, like and comment on our latest video to win! 20 users will be randomly selected to win $5 USDT/APX. (Follow 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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