- Top ApolloX Gainer: DOGEUSDT (+1.08%)
- Top ApolloX Loser: WAVESUSDT (-50.63%)
Crypto QuickSnap
DOGE price was bolstered by news that DOGE supporter and Tesla CEO Elon Musk has become Twitter’s largest shareholder. Price has since slowed down but Musk continues to reference DOGE, especially as a payment option for Twitter Blue. Meanwhile, WAVES price has speedily declined as its USDN stablecoin broke its peg and founder Sasha Ivanov accused traders of price manipulation.
Market Analysis
Bitcoin price failed to sustain resistance at $46k and slid to below $43k by end of the week. Open interest decreased by over $202 million as compared to the previous week. Funding rates also turned from positive to slightly negative, indicating that the short term outlook is bearish. $106 million long positions were liquidated during the price decline on April 6 alone.
Source:
CryptoQuant
CryptoBites
The Macro
- The European Union has again targeted cryptocurrencies in its latest expansion of sanctions against Russia. It bans the provision of “high-value” crypto-asset services to the Russian Federation if the total value of the digital funds exceeds €10,000 (close to $11,000). (Learn More)
- The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. (Learn More)
- The Australian securities regulator is warning finance influencers, including crypto, about wittingly or unwittingly promoting financial products. Penalties could lead to millions of dollars in fines for corporations and up to five years in prison for individuals. (Learn More)
Investment Talk
- Blockchain technology company Blockstream and Jack Dorsey’s Block, formerly Square, are collaborating on a solar- and battery-powered bitcoin mine in Texas that uses solar and storage technology from Tesla. (Learn More)
- Bitcoin’s bull run in the fall of 2021 was not accompanied by a corresponding surge in fees like previous bull runs. Instead, transaction fees have continued to fall. This is a positive sign for increased user adoption and technologies like Lightning Network. (Learn More)
Projects
- Kraken CEO Jesse Powell announced that the exchange will close its global headquarters in San Francisco, citing rampant crime and incompetence of its district attorney. (Learn More)
- Crypto exchange Coinbase has disabled its support for the Unified Payments Interface (UPI) in India after the National Payments Corporation of India (NPCI) said it is “not aware of any crypto exchange using UPI.” (Learn More)
Web3.0
- Mastercard has filed 15 new trademark applications. The filings reveal that it plans to establish NFT-backed media, a payment processing and e-commerce transaction system within the metaverse, as well as a crypto asset market. (Learn More)
- Loans that use high-value NFTs as collateral are gaining traction. The owner of 104 CryptoPunks NFTs recently took out a $8.3 million loan on the collection. (Learn More)
- Digital payments company Strike has partnered with three of the world’s largest payments providers, Shopify, NCR and Blackhawk Network, to enable bitcoin payments at stores throughout the United States. (Learn More)
What’s New at ApolloX
- Launching ApolloX 2.0 - ApolloX will be transitioning to a DAO governance model with ApolloX 2.0. APX token burn plan included. Find out what this means for you. (Learn More)
- ApolloX & BabySwap - ApolloX is bringing derivatives trading to BabySwap! Users will enjoy discounts when they use BABY for trading fees on BabySwap. (Learn More)
- ApolloX & Leonicorn - ApolloX is partnering with Leonicorn to bring perpetual trading to LeonicornSwap. (Learn More)
- Trade spot on mobile - You can now access ApolloX CEX spot trading on the ApolloX mobile app. (Download Now)
- New perpetual contracts - 6 new trading pairs including AUDIOUSDT, FILUSDT and PEOPLEUSDT are available on ApolloX now! (Trade Now)
Trading & Contests
- 11th Epoch Trading Rewards Program - Total trading rewards pool has been increased to 9,000,000 APX with a new grid trading fees factor. (Learn More)
- Feedback & Win - Have some burning feedback? Share it with us and stand to win up to $50 APX/USDT! Limited time only. (Feedback 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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