<ul><li>Top ApolloX Gainer: SFPUSDT (&#43;17.68%)</li><li>Top ApolloX Loser: GALUSDT (-33.10%)</li></ul><h3 id="crypto-quicksnap">Crypto QuickSnap</h3><p>SafePal ($SFP) saw a 28% increase on Monday and is currently trading at $0.48 at time of writing. Meanwhile, Project Galaxy’s token ($GAL) is seeing a 67% drop weeks after its launch, affected by bearish sentiment from the wider crypto market and lack of product adoption.</p><h2 id="header-0">Market Analysis</h2><p>Bitcoin open interest increased by over $441 million and funding rates remained positive compared to last week, as traders opened more long positions in anticipation of a price movement. On May 25-26, ether futures liquidations amounted to over $361 million, almost twice the amount for bitcoin futures’ $137 million. The losses were unusual for ether – which usually sees lower liquidations than bitcoin on average trading days – and could be attributed<a href="https://www.coindesk.com/markets/2022/05/27/ether-accounts-for-almost-half-of-520m-liquidations-amid-weak-on-chain-data/" rel="noopener noreferrer nofollow"> partly due to a lack of demand for Ethereum’s block space</a>.</p><p>Source:<a href="https://cryptoquant.com/" rel="noopener noreferrer nofollow">CryptoQuant</a></p><h2 id="header-1">CryptoBites</h2><h3 id="investment-talk">Investment Talk</h3><ul><li>Bitcoin delivered its eighth straight week of losses for investors for the first time in history last week. This comes amid weak macroeconomic sentiment, inflation concerns and systemic risk from within the crypto industry. (<a href="https://www.coindesk.com/markets/2022/05/24/bitcoin-records-eighth-week-of-losses-but-sentiment-indicator-suggests-upside/?utm_source&#61;Sailthru&amp;utm_medium&#61;email&amp;utm_campaign&#61;NODE%20MAY%2024%202022&amp;utm_term&#61;The%20Node" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Ethereum’s price drop over the last 7 days sprung from multiple reasons and have led to over $157.26 million in Ethereum liquidations. Perhaps the most notable reason was a recent hang-up related to Ethereum’s incoming merge. (<a href="https://decrypt.co/101495/ethereum-liquidations-top-157m-merge-upgrade-test-hits-snag" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="projects">Projects</h3><ul><li>The Solana community raised royalties and sniped stolen World of Solana (WOS) NFTs listed for sale to “scam” a scammer. The 25 stolen NFTs were returned to their rightful owner. (<a href="https://cointelegraph.com/news/hacker-tastes-own-medicine-as-community-gets-back-stolen-nfts" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>LUNA 2.0 began trading on May 28 and reached $30 per token before plunging 80% to just $5.30. (<a href="https://cryptoslate.com/luna-2-0-hits-30-then-drops-80-in-first-day-of-trading/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>“Move-to-earn” Stepn will effectively bar gameplay in China in mid-July. The announcement sent its GMT token spiraling as the market digests this news. (<a href="https://www.coindesk.com/business/2022/05/26/stepn-to-bar-move-to-earn-for-china-based-users-in-july/?utm_source&#61;Sailthru&amp;utm_medium&#61;email&amp;utm_campaign&#61;NODE%20MAY%2027%202022&amp;utm_term&#61;The%20Node" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="web3-0">Web3.0</h3><ul><li>Tether has launched its USDT token on Polygon. The stablecoin is now available on more than 11 blockchains. (<a href="https://www.coindesk.com/business/2022/05/27/tether-expands-with-introduction-of-dollar-pegged-stablecoin-on-polygon/?utm_source&#61;Sailthru&amp;utm_medium&#61;email&amp;utm_campaign&#61;NODE%20MAY%2027%202022&amp;utm_term&#61;The%20Node" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>RTFKT, Nike’s Web3 arm, now owns 10 Ethereum Name Service (ENS) domains following the purchase of dotswoosh.eth for 19.72 ETH, roughly $35,000. (<a href="https://decrypt.co/101632/nikes-rtfkt-buys-dotswoosh-ethereum-domain-name-for-35k" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>SpaceX, Elon Musk’s space exploration company, will soon accept Dogecoin as payment for merchandise, alongside Musk’s other company, Tesla. Dogecoin jumped 8% after the announcement. (<a href="https://decrypt.co/101521/elon-musk-spacex-dogecoin-doge-pumps" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h2 id="header-2">What’s New at ApolloX</h2><ul><li><strong>ApolloX at #TheCapital2022</strong> - ApolloX was a proud sponsor of the recently-concluded The Capital 2022 by CoinMarketCap! (<a href="https://coinmarketcap.com/gravity/profile/ApolloX" rel="noopener noreferrer nofollow">Follow us on Gravity</a>)</li><li><strong>ApolloX on DeBank</strong> - ApolloX&#39;s portfolio is now tracked on DeBank! (Track here)</li><li><strong>BNB Chain DeFi Apps #10</strong> - A month after we ranked #12, we now rank in the top 10 BNB Chain DeFi Apps! Ranked by DappRadar.</li></ul><h2 id="header-3">Trading &amp; Contests</h2><ul><li><strong>16th Epoch Trading Rewards</strong> - The rules of the 16th epoch are consistent with the 15th Epoch. (Learn more)</li><li><strong>Referral Boosted Rewards</strong> - Earn $10 cash for each referee and a chance to enter our $1,500 lucky draw. (<a href="https://apollox.link/rp-br-1500" rel="noopener noreferrer nofollow">Join now</a>)</li><li><strong>Bored Ape Merch Giveaway</strong> - Complete simple tasks to win a limited-edition BAYC #7630 T-Shirt! 1 lucky winner will also get $100 APX! (<a href="https://apollox.link/BAgiveaway-tweet" rel="noopener noreferrer nofollow">Join here</a>)</li></ul><p><strong>Risk Reminder</strong>: 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.</p><p>The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/MAblogdl2022" rel="noopener noreferrer nofollow">here</a>.</p><p>Stay up to date with ApolloX!</p><p><a href="https://t.me/apollox_com" rel="noopener noreferrer nofollow">Telegram</a> |<a href="https://twitter.com/ApolloX_com" rel="noopener noreferrer nofollow"> Twitter</a> |<a href="https://www.facebook.com/ApolloXcom" rel="noopener noreferrer nofollow"> Facebook</a> |<a href="https://www.instagram.com/apollox_com/" rel="noopener noreferrer nofollow"> Instagram</a> | <a href="https://apollox.link/blog-discord" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://apollox.link/blog-APXNewsStation" rel="noopener noreferrer nofollow">ApolloX News Station</a></p>

Weekly Report (23 May-29 May 2022): Ether futures liquidations shoot up

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