- Top ApolloX Gainer: BNXUSDT (+31.02%)
- Top ApolloX Loser: LOKAUSDT (-52.61%)
Crypto QuickSnap
Metaverse gaming token BinaryX ($BNX) was one of the few crypto to gain despite the market dip ahead of the release of its new play-to-earn card game. Meanwhile, play-to-earn League of Kingdoms Arena ($LOKA) showed losses, following the majority of the crypto market.
Market Analysis
Bitcoin open interest dropped further by over $1.7 billion this week and funding rates turned negative as traders released any doubt of a bearish market. Over $681 million long positions were liquidated over the week as Terra’s meltdown sent reverberations across other blockchains. $248 million were liquidated on 9 May alone when stablecoin UST de-pegged from the dollar and started its death spiral, leading bitcoin and other crypto markets into the red.
Source:
CryptoQuant
CryptoBites
Investment Talk
- SEC Commissioner Hester Peirce signalled on Thursday that stricter rules around stablecoins could be drawing closer. (Learn more)
- White-hat hacker group Anonymous said it will source funds from crypto projects with “similar conceptions,” such as CultDAO, to fight against “unjust government actions”. (Learn more)
- Binance CEO Changpeng Zhao says Do Kwon’s revival plan of forking the Terra blockchain won’t work. (Learn more)
Projects
- Blockchain analytics firm Elliptic has tracked Terra’s bitcoin reserves going into crypto exchanges Gemini and Binance but was unable to track movement further. (Learn more)
- Staking protocol Lido warned stETH holders that the token’s peg to Ethereum has slipped and they may have their collateral liquidated. (Learn more)
- Tether's USDT briefly lost its peg to the dollar last week following UST’s crash. (Learn more)
Web3.0
- Elon Musk said early Friday that his Twitter buyout was “temporarily on hold” pending details surrounding the proportion of spam accounts on the platform. (Learn more)
- Azuki NFT founder Zagabond released an apology on Twitter after backlash from his reveal that he was behind three allegedly rug pulled projects. (Learn more)
What’s New at ApolloX
- Maximum Leverage Adjusted - You can now trade BTCUSDT Perpetual with up to 200x leverage. Please trade responsibly. (Learn more)
- Tick Size Adjustments - Tick size for MTLUSDT, WAVESUSDT and AAVEUSDT has been adjusted. (Trade now)
- Unclaimed APX Rewards - Unclaimed APX rewards from DEX Leaderboard Program will be considered forfeited from 23 May onward and retrieved by ApolloX. (Claim here)
- APX Lock-Up Program - ApolloX has locked 50 million APX from trading fee proceeds. Subsequent APX proceeds will also be transferred to the designated address to be locked up. (Learn more)
- ApolloX Roadmap - See our key milestones and new developments to expect in the coming quarters. (See roadmap)
Trading & Contests
- Invite & Win - Join and invite friends to ApolloX Telegram communities to win up to $100 USDT/APX! (Invite now)
- 15th Epoch Trading Rewards - The rules of the 15th epoch are consistent with the 14th Epoch. Starts 17 May. (Learn more)
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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