<ul><li>Top ApolloX Gainer: LUNA2USDT (&#43;216.72%)</li><li>Top ApolloX Loser: AUDIOUSDT (-4.28%)</li></ul><h3 id="crypto-quicksnap">Crypto QuickSnap</h3><p>LUNA, the native token of Terra’s recreated blockchain, rallied 186%* over the last 7 days, amid a <a href="https://www.coindesk.com/markets/2022/09/09/terras-luna-token-gains-200-in-a-few-hours-amid-speculative-frenzy/" rel="noopener noreferrer nofollow">frenzy of retail speculation and whale activity</a>. There has been no significant news or developments from the blockchain. LUNC, the original Terra coin, also gained 58%* in the same period on news of a <a href="https://cointelegraph.com/news/here-s-why-terra-classic-price-has-soared-by-250-in-september" rel="noopener noreferrer nofollow">tax burn mechanism</a> aimed at reducing its hyperinflated supply. Meanwhile, AUDIO has fallen 4.5%* over the last 7 days.</p><p><em>*Data cited from CoinMarketCap</em></p><h2 id="header-0">Market Analysis</h2><p>Bitcoin (BTC) was volatile this week, falling below $19k for the first time in 2 months; but it regained $21k to close the week. BTC open interest increased by $1.32 billion and aggregated funding rates turned positive this week as compared to last week, as traders rejoiced over the bounce. The coin’s drop to below $19k caused over $101 million long positions to be liquidated; its sudden upswing in price to $21k on September 9 then caused a short squeeze and over $130 million in short liquidations. For ETH, a total of $376 million short positions and $215 million long positions were liquidated this week.</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>The 90-day correlation between Bitcoin and the S&amp;P 500, which includes a strong tech component, has reached a value of 0.59 on Friday. A correlation above 0.5 is considered moderately strong. (<a href="https://www.coindesk.com/markets/2022/09/09/bitcoins-correlation-with-stocks-comes-back-as-economic-factors-roil-markets/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>MicroStrategy plans to sell up to $500 million of stock to fund more purchases of Bitcoin. (<a href="https://www.coindesk.com/business/2022/09/09/microstrategy-files-for-stock-offering-of-up-to-500m-in-part-to-buy-additional-bitcoin/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Chainalysis has helped law enforcement to recover $30 million stolen in an attack on Ronin Network and Axie Infinity this year. (<a href="https://cryptobriefing.com/chainalysis-aids-in-recovering-30m-from-axie-infinity-ronin-hack/" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="projects">Projects</h3><ul><li>LUNA tripled in price from less than $2 to almost $7 on Friday, trading close to its all-time high set in early June, without any significant news or developments. Data by LunarCrush points to a retail speculative frenzy. (<a href="https://www.coindesk.com/markets/2022/09/09/terras-luna-token-gains-200-in-a-few-hours-amid-speculative-frenzy/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>The Algorand Foundation has revealed a $35 million USDC hole in its balance sheet as a result of exposure to crypto lender Hodlnaut. It said that the $35 million represented less than 3% of its assets. (<a href="https://cointelegraph.com/news/algorand-foundation-outlines-35m-exposure-to-crypto-lender-hodlnaut" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Crypto exchange giant Binance will cease trading support for USDC, USDP and TUSD on its platform, but currently has no plans to “auto-convert” USDT to BUSD. (<a href="https://cointelegraph.com/news/binance-no-plans-to-auto-convert-tether-though-that-may-change" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="web3-0">Web3.0</h3><ul><li>Dust Labs, the company behind the popular y00ts NFT collection, is experimenting with a new copyright and ownership system for y00ts NFTs. ⓨ will act as a replacement for the more common copyright symbol ⓒ. (<a href="https://blockworks.co/latest-solana-nft-collection-gives-ethereum-nfts-a-run-for-their-money/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>The mobile free-to-play game publisher Revolving Games has raised $25 million in seed funding to create AAA quality “decentralized” games. It already has two confirmed titles in the works. (<a href="https://decrypt.co/109329/revolving-games-aaa-titles-web3-decentralized" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h2 id="header-2">What’s New at ApolloX</h2><ul><li><strong>New DEX Engine Partner </strong>- ApolloX is pleased to announce our latest DEX Engine partnership with AsiaX. (<a href="https://apollox.link/new-partners-9-Sep" rel="noopener noreferrer nofollow">Learn more</a>)</li><li><strong>Daily Rewards Program</strong> - We’ve increased the Daily Rewards from the first 1000 users to 1500 users. PancakeSwap users are now also able to claim Daily Rewards when trading futures on PancakeSwap. (<a href="https://apollox.link/daily-rewards-program" rel="noopener noreferrer nofollow">Learn more</a>)</li><li><strong>Venus Protocol x ApolloX</strong> - ApolloX established a partnership with Venus Protocol by adding vUSDT as collateral under Multi-Asset Mode to maximize capital efficiency for users. (<a href="https://apollox.link/venus-protocol-partnership" rel="noopener noreferrer nofollow">Trade now</a>)</li><li><strong>New Perpetual Contracts </strong>- ApolloX users can now trade 1000LUNCBUSD and FOOTBALLUSDT contracts on ApolloX DEX! (Trade now)</li></ul><h2 id="header-3">Trading &amp; Contests</h2><ul><li><strong>BAB Holders Campaign </strong>- ApolloX is proud to be one of the first Web3 projects partnering with BNB Chain to offer exclusive rewards to BAB holders! BAB holders can win APX bonuses by completing trading targets on ApolloX DEX! (<a href="https://apollox.link/BAB" rel="noopener noreferrer nofollow">Trade now</a>)</li><li><strong>ApolloX $500 Anniversary Giveaway </strong>- Complete simple tasks to win $50 APX/USDT! Both CEX and DEX users can participate. (<a href="https://apollox.link/anniversary-giveaway-registration" rel="noopener noreferrer nofollow">Join now</a>)</li><li><strong>26th 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></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> | <a href="https://coinmarketcap.com/community/" rel="noopener noreferrer nofollow">CMC Community</a></p>

Weekly Report (5 - 11 Sep 2022): Relief rally as BTC open interest increased $1.32 billion, funding rates turned positive

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