Hello, ApolloXplorer!Have you seen today’s key headlines yet?<h2 id="header-0">#1. Analysts warn of bitcoin fakeout</h2>BTC price spiked 7% to hit a daily high of $21,860 on July 7.However, analysts warn that the macro downtrend is likely to continue for the foreseeable future.Market analyst Crypto Tony outlined a “worst-case scenario” that could see BTC bottom near $12,000 if it continued on a downward trend.Source: <a href="https://cointelegraph.com/news/bitcoin-price-surges-to-21-8k-but-analysts-warn-that-the-move-could-be-a-fakeout" rel="noopener noreferrer nofollow">Cointelegraph</a><h2 id="header-1">#2. Aave wants to launch a DAI stablecoin rival</h2>Aave is voting on a governance proposal to launch a decentralized stablecoin.The proposal also suggests a plan to launch a GHO aToken and GHO Debt Token.Interest rates for the stablecoin would be determined by the community.Source: <a href="https://cryptobriefing.com/aave-wants-launch-rival-makerdaos-dai-stablecoin/" rel="noopener noreferrer nofollow">Crypto Briefing</a><h2 id="header-2">#3. MakerDAO approves $100 million stablecoin loan vault</h2>MakerDAO has passed a vote to create a DAI vault for US-based Huntingdon Valley Bank.At launch the vault will have a debt ceiling of $100 million, which will later be raised to $1 billion.This vault will work as a system allowing the bank to borrow DAI tokens after depositing off-chain loans on its balance sheet as collateral.Source: <a href="https://www.theblock.co/post/156301/makerdao-approves-100-million-stablecoin-loan-vault-for-151-year-old-us-bank" rel="noopener noreferrer nofollow">The Block</a><h2 id="header-3">#4. Reddit to launch NFT avatars</h2>Reddit will be launching a new Collectibles Avatar marketplace hosted on Polygon’s blockchain.The website will partner with independent artists to create unique avatars that Reddit users can buy and customize. Owners also get a license to use the artwork on and off of Reddit.Profiles with Collectable Avatars set as their profile image will also have a “glow-like effect” in the comment section.Source: <a href="https://decrypt.co/104623/reddit-to-launch-nft-avatars-built-polygon" rel="noopener noreferrer nofollow">Decrypt</a><h2 id="header-4">#5. Celsius fully repays MakerDAO debt</h2>Celsius has repaid its $41.2 million debt to MakerDAO and got its 21,962 wBTC collateral back.It is suffering from a potential $1 billion loss on its MakerDAO lending strategy.Celsius transferred 24,462.6 wBTC to crypto exchange FTX shortly after the collateral was unlocked.Source: <a href="https://docs.google.com/document/d/10LTrlKneciLzEor44RnDv9orK3JLc-gD0Uk-xPSXDXk/edit#" rel="noopener noreferrer nofollow">Crypto Briefing</a>--The ApolloX app is available on Apple Store or Google Play <a href="https://apollox.onelink.me/rf4R/newscryptowndl" rel="noopener noreferrer nofollow">here</a>.Stay up to date with ApolloX!<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>

Crypto News of the Day: Aave wants to launch a DAI rival, Reddit NFT avatars will glow in comments section

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