<ul>
 <li>Top ApolloX Gainer: ENSUSDT (+26.81%)</li>
 <li>Top ApolloX Loser: ALGOUSDT (-5.13%)</li>
</ul>
<h3 id="token-quicksnap">Token QuickSnap</h3>
<p>ENS surged over 23% in the last 7 days as most crypto remain slightly in the red.<a href="https://ambcrypto.com/ens-opposes-market-trend-amid-domain-registration-deceleration-heres-how/" rel="noopener noreferrer nofollow"> Increasing development activity</a> that would help onboard more users could have contributed to its performance. Meanwhile, ALGO has chalked up a 5% drop in the last 7 days following price action of major coins.</p>
<p><em>*Data cited from CoinMarketCap</em></p>
<h2 id="header-0">Market Analysis</h2>
<p>Bitcoin (BTC) broke past $20k at the start of the week but declined sharply to trade at $19.4k on October 7 following the <a href="https://www.coindesk.com/markets/2022/10/07/us-jobs-growth-slows-less-than-expected-bitcoin-slips-from-20k/" rel="noopener noreferrer nofollow">release of the U.S. September jobs report</a>, which hinted at another rate hike in the U.S. Fed’s next meeting. It closed the week trading flat. In the derivatives market, BTC open interest increased by $1.3 billion this week as compared to last week, indicating increased risk appetite from traders. However, aggregated funding rates remain negative showing support for short-term bearish price action and continued downward price pressure. This week, a total of $171 million shorts and over $196 million longs were liquidated. Bitcoin and other cryptos have yet to show optimistic price movements in what has historically been a strong month.</p>
<p>Source:</p>
<p><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>Iranian Bitcoin advocate Ziya Sadr was arrested by Iranian security forces last month and has not been released, according to Sadr’s friend. It is unclear if Sadr was arrested for his Bitcoin advocacy. (<a href="https://www.coindesk.com/policy/2022/10/09/iranian-bitcoin-advocate-ziya-sadr-arrested-by-iranian-security-forces/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>India will pilot a CBDC called the e-rupee, a digital version of the rupee, in phases. It intends to implement the e-rupee as an additional form of currency and an alternative to cryptocurrencies. (<a href="https://decrypt.co/111542/india-will-soon-test-an-e-rupee-digital-currency" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>The EU Council has endorsed the Markets in Crypto Assets (MiCA) legislation, which will regulate the European crypto space. The European Parliament will vote on its approval this week. (<a href="https://news.bitcoin.com/eu-council-endorses-markets-in-crypto-assets-mica-legislation/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
</ul>
<h3 id="projects">Projects</h3>
<ul>
 <li>The Luna Foundation Guard has cited legal reasons for pausing its $100 million treasury distribution plans, which it has pledged to remaining users of failed stablecoin UST. (<a href="https://www.coindesk.com/business/2022/10/07/lfg-slow-walks-plan-to-repay-small-time-terra-holders-citing-legal-threats/" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>Activity on the BNB Chain was briefly suspended after a cross-chain exploit on October 7. Current estimates of exploited funds are around $70–80 million, with $7 million successfully frozen. (<a href="https://cointelegraph.com/news/bnb-chain-back-online-after-suspension-due-to-a-cross-chain-exploit" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>MakerDAO is reallocating $500 million of the funds currently collateralizing the Dai stablecoin to U.S. Treasury bills and corporate bonds. It aims to provide the protocol with low-risk additional yield. (<a href="https://cointelegraph.com/news/makerdao-goes-ahead-with-500m-investment-in-treasuries-and-bonds" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li>Solana co-founder Anatoly Yakovenko believes work-in-progress validator client Firedancer will be a “long-term fix” to its network outages. (<a href="https://decrypt.co/111486/solana-co-founder-long-term-fix-network-outages" rel="noopener noreferrer nofollow">Learn more</a>)</li>
</ul>
<h3 id="web3-0">Web3.0</h3>
<ul>
 <li>A court-appointed liquidator for investment fund 3AC will sell more than 300 NFTs previously held by the bankrupt firm’s NFT investment arm Starry Night Capital. The collection’s value has dwindled to $4.2 million by July as compared to $35 million last year. (<a href="https://blockworks.co/the-most-expensive-three-arrows-capital-nfts-to-be-liquidated/" 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 Partnership</strong> - ApolloX is pleased to announce the latest partnership for the DEX Engine with Safereum, for SafeSwap Futures! (<a href="https://apollox.link/new-partners-7-oct" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li><strong>5th DAO Proposal</strong> - ApolloX DAO is voting on a proposal to reduce the amount of APX rewards earned in APX-BUSD LP staking. (<a href="https://apollox.link/dao-05-vote" rel="noopener noreferrer nofollow">Vote now</a>)</li>
 <li><strong>DEX Engine Partners Referral</strong> - Trading Referral Program with 20% commission is now live on DEX Engine partners PancakeSwap and BabySwap! (<a href="https://twitter.com/ApolloX_com/status/1577282448701804544" rel="noopener noreferrer nofollow">Learn more</a>)</li>
 <li><strong>Land Chronicle x ApolloX </strong>- Trade on DEX Engine partner Land Chronicle’s LANDEX and stand to win from a $2,000 airdrop! (<a href="https://twitter.com/LandChronicle/status/1577222382942449665" rel="noopener noreferrer nofollow">Join now</a>)</li>
 <li><strong>29th Epoch Trading Rewards </strong>- Trade on ApolloX DEX and earn your share in a 9,000,000 APX Trading Rewards Pool. (<a href="https://apollox.link/29th-trading-rewards" rel="noopener noreferrer nofollow">Trade now</a>)</li>
 <li><strong>Unclaimed APX Rewards Burn</strong> - All unclaimed APX rewards from before the 27th epoch (September 24, 2022) will be burnt. The first burn will happen on 30th October 2022. (<a href="https://apollox.zendesk.com/hc/en-us/articles/11052030168857" rel="noopener noreferrer nofollow">Learn more</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>
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Weekly Report (3 - 9 Oct 2022): BTC open interest increased $1.3 billion but downward pressure on price still expected

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