<ul>
 <li>Top ApolloX Gainer: CHZUSDT (+11.32%)</li>
 <li>Top ApolloX Loser: UNIUSDT (-20.40%)</li>
</ul>
<h3 id="crypto-quicksnap">Crypto QuickSnap</h3>
<p>Social engagement fan token CHZ has risen 11.51% over the last 30 days, according to CoinMarketCap data, after the announcement of <a href="https://ambcrypto.com/chiliz-chz-sees-a-150-price-surge-in-four-weeks-and-thats-not-all/" rel="noopener noreferrer nofollow">network upgrade Chiliz 2.0</a>. Meanwhile, Uniswap’s native token UNI has fallen 19% over the last 30 days, according to CoinMarketCap data, further catalyzed by the wider market downturn this week.</p>
<h2 id="header-0">Market Analysis</h2>
<p>Bitcoin plunged below $20k this week after U.S. Federal Reserve Chairman Jerome Powell dashed investors’ hopes of premature policy loosening or taming inflation. In the derivatives market, BTC open interest increased $300 million as compared to last week while funding rates stayed negative, indicating that short traders remain dominant. Close to $73 million short positions were liquidated this week, as compared to $146 million long positions. Over $93 million long positions were liquidated from August 26-27 alone, when BTC fell from $21.8k to $20k.</p>
<p>Source:<a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a></p>
<h2 id="header-1">CryptoBites</h2>
<h3 id="investment-talk">Investment Talk</h3>
<ul>
 <li>Hetzner, a cloud-networking provider that hosts roughly 10% of Ethereum nodes, says it does not allow mining or staking. Cloud service providers like Hetzner host over 60% of Ethereum nodes. (<a href="https://www.coindesk.com/business/2022/08/26/ethereum-could-get-kicked-off-cloud-host-that-powers-10-of-crypto-network/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>Rumours of a sell-off by users of defunct exchange Mt. Gox added to BTC price pressures, causing the coin to fall below $20,000 support on August 27. (<a href="https://cointelegraph.com/news/mt-gox-rumors-panic-bitcoin-twitter-as-btc-price-returns-below-20k" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>A DappRadar report found that slow transaction times or service disruptions across DeFi lending protocols during Ethereum’s Merge could plunge stablecoin values and shrink lending pools. (<a href="https://www.coindesk.com/business/2022/08/26/the-merge-may-negatively-impact-defi-protocols-stablecoins-report/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>The Taliban government is cracking down on crypto holders and crypto businesses after the Afghan central bank declared crypto illegal last month. (<a href="https://cryptobriefing.com/taliban-targeting-afghan-crypto-users/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
</ul>
<h3 id="projects">Projects</h3>
<ul>
 <li>Zhu Su, co-founder of bankrupt crypto hedge fund Three Arrows Capital delivered an affidavit in Bangkok, claiming that the firm’s liquidators misled the High Court of Singapore. (<a href="https://cryptobriefing.com/su-zhu-hits-back-3acs-liquidators-from-bangkok-report/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>Arrested Tornado Cash developer Alexey Pertsev allegedly worked for a Russian company with ties to state intelligence agencies. His wife has denied these allegations. (<a href="https://cryptobriefing.com/toranado-cash-dev-alexey-pertsev-may-have-ties-to-russian-fsb/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>Waves-backed algorithmic stablecoin USDN is struggling to maintain its dollar peg for the fourth time this year. This comes amid protocol updates. (<a href="https://cointelegraph.com/news/waves-backed-stablecoin-usdn-breaks-peg-again-amid-protocol-upgrade" rel="noopener noreferrer nofollow">Learn more</a>)</li>
</ul>
<h3 id="web3-0">Web3.0</h3>
<ul>
 <li>Community-governed brewery barrelDAO has launched beer packs with cans featuring imagery from numerous Solana NFT projects. The packs are sold through redeemable NFTs. (<a href="https://decrypt.co/108376/solana-beer-degods-okay-bears-nfts-summer-shandy" rel="noopener noreferrer nofollow">Learn more</a>)</li>
</ul>
<h2 id="header-2">What’s New at ApolloX</h2>
<ul>
 <li><strong>ApolloX Chat Room </strong>- Chat while you trade on ApolloX! Transcend geographical barriers with in-built translation and an emoji pack in chat. (<a href="https://apollox.zendesk.com/hc/en-us/articles/9809121176473" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li><strong>ApolloX Daily Rewards Program </strong>- Users can now unlock APX when they deposit and trade any amount on ApolloX DEX. (<a href="https://apollox.zendesk.com/hc/en-us/articles/9534906914329" rel="noopener noreferrer nofollow">Trade now</a>)</li>
 <li><strong>DEX Engine Partnerships</strong> - ApolloX is pleased to announce 2 new partnerships with MX BOX and Meta DEX! (<a href="https://twitter.com/ApolloX_com/status/1563043565336465408" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li><strong>25th Epoch Trading Rewards</strong> - Trade on ApolloX DEX and grab your share of a 9,000,000 APX Trading Rewards Pool and 100,000 APX Staking Rewards Pool. (Trade now)</li>
 <li><strong>$5,000 Deposit &amp; Trade Lucky Draw</strong> - Deposit and trade to win USDT cash vouchers and cashback vouchers! (<a href="https://apollox.zendesk.com/hc/en-us/articles/9735609262233" rel="noopener noreferrer nofollow">Trade now</a>)</li>
 <li><strong>DAO Proposal Voting</strong> - Vote for the minimum penalty ratio when prematurely unlocking APX from DAO. (<a href="https://apollox.link/dao-03-vote" rel="noopener noreferrer nofollow">Vote now</a>)</li>
 <li><strong>Brave Wallet x ApolloX</strong> - ApolloX now supports Brave Wallet connection on ApolloX DEX! (Trade now)</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 (22-28 Aug 2022): BTC plunges below $20k, Funding rates stay negative

Table of Contents

APX

Other articles published on Aug 29, 2022

Join our free newsletter for daily crypto updates!