- Top ApolloX Gainer: WAVESUSDT (+81.72%)
- Top ApolloX Loser: LOKAUSDT (-21.77%)
Waves Protocol ($WAVES) saw its price pump 90% over the last 7 days after announcing its “DeFi Revival Plan”, a response to two incidents in April which left many Waves users with heavy losses and a loss of confidence in the project. Meanwhile, League of Kingdoms Arena ($LOKA) is suffering losses from the bearish market, which usually see decreased participation in play-to-earn games.
This week, bitcoin price saw volatile price action as it experienced two brief rallies to above $30k before falling to the $29.5k - $30k price levels for the rest of the week. Open interest dropped more than $562 million and funding rates turned from positive to negative as traders assume more bearish price action. More than $336 million long positions were liquidated on June 1 alone when bitcoin fell from $31k to $29k price levels. For short traders, close to $169 million short positions were liquidated on May 30 and June 2 during the brief price spikes.
- South Korea is ramping up crypto investigations and regulations. It announced the Digital Assets Committee, launched an investigation and met with Asia-Pacific financial authorities. (Learn more)
- A Federal Trade Commission (FTC) report found that roughly 70% of $1 billion lost to crypto scammers since 2021 was Bitcoin. The median individual loss reported was about $2,600, but that figure for victims in their 70s was nearly $12,000. (Learn more)
- Kenya is looking to become Africa’s first Bitcoin mining hub by inviting Bitcoin mining companies to use surplus geothermal energy to power their operations. (Learn more)
- The Bored Ape Yacht Club Discord server was hacked on Saturday, with the attacker making off with 200 ETH ($360,000) worth of NFTs, according to Yuga Labs. (Learn more)
- Move-to-earn Stepn was hit with a number of distributed denial-of-service (DDoS) attacks this weekend, the third such occurrence in the last few months. (Learn more)
- A new proposal by the ApeCoin DAO to stay on Ethereum has gained overwhelming community support, with 99.65% of votes in favor and 0.35% of votes against currently. (Learn more)
- Binance Labs, the venture capital arm of Binance, will launch a new $500 million fund focused on Web3 and blockchain technologies. (Learn more)
- Fast food chain Chipotle has begun accepting cryptocurrency payments in their US restaurants Flexa, a digital payments platform. 98 digital currencies including bitcoin and ether are supported. (Learn more)
What’s New at ApolloX
- Spot Trading on DEX - You can now trade spot markets on ApolloX DEX, on both web and in-app! What’s more, APX trades on DEX do not have 1% burn tax. (Trade now)
- Take Profit and Stop Loss - To give you a better trading experience, we’ve added TP/SL limit orders for your futures trades on ApolloX. (Try now)
- New assets as collateral - Multi-assets mode now supports six assets: USDT, BUSD, CAKE, USDC, BNB and ETH. (Trade now)
- New perpetual contracts - OPUSDT and LUNA2USDT are now available for trading on ApolloX. (Trade now)
Trading & Contests
- Bored Ape #7630 x ApolloX KOL Giveaway - We’re holding an exclusive promotion for KOLs with >2000 community members! Win a limited Bored Ape t-shirt designed by ApolloX! (Join here)
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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