<ul><li>Top ApolloX Gainer: DOGEUSDT (+95.14%)</li><li>Top ApolloX Loser: APTUSDT (-20.02%)</li></ul><h3 id="apollox-token-quicksnap">ApolloX Token QuickSnap</h3><p>Elon Musk’s acquisition of Twitter has boosted optimism for Dogecoin (DOGE), Musk’s favourite memecoin. DOGE has surged 98% in the last 7 days, <a href="https://cointelegraph.com/news/62-of-dogecoin-hodlers-in-profit-amid-hopes-of-twitter-integration" rel="noopener noreferrer nofollow">tipping 62% of Dogecoin investors into profit</a>. Meanwhile, Aptos (APT) has fallen 15% in the last 7 days after a rebound to $9.83 at the start of the week. APT has much <a href="https://www.coindesk.com/markets/2022/10/27/aptos-token-rebounds-after-upstart-blockchains-dismal-debut/" rel="noopener noreferrer nofollow">in-built selling pressure</a> as it has a relatively small circulating supply and a fairly small airdrop, according to research analyst at crypto data firm Kaiko Riyad Carey.</p><p><em>*Data cited from CoinMarketCap</em></p><h2 id="header-0">Market Analysis</h2><p>Bitcoin (BTC) pushed past $20k and remained there most of this week — the biggest weekly gain in three months — turning the market mood more bullish. The oldest cryptocurrency topped $20k on October 26 as <a href="https://www.coindesk.com/markets/2022/10/25/market-wrap-bitcoin-marches-past-20k-as-investors-regain-their-appetite-for-riskier-assets/" rel="noopener noreferrer nofollow">investors showed optimism from a few big brands’ positive third-quarter earnings reports</a>. In the derivatives market, BTC open interest decreased $168 million this week as compared to last week while aggregated funding rates remained positive. Over $1.9 billion shorts were liquidated, more than double the amount of $546 million longs liquidated. The majority of shorts were liquidated from October 26-27 ($1.3B) and on October 29 ($457M) when the coin rose after a U.S. government report showed the <a href="https://www.coindesk.com/markets/2022/10/28/feds-preferred-inflation-gauge-rises-less-than-expected-and-bitcoin-rises/" rel="noopener noreferrer nofollow">Federal Reserve’s preferred inflation gauge rose slower than expected last month</a>.</p><p>Source:</p><p><a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a>, <a href="https://cryptoquant.com/" rel="noopener noreferrer nofollow">CryptoQuant</a></p><h2 id="header-1">CryptoBytes</h2><h3 id="investment-talk">Investment Talk</h3><ul><li>Latest forecast from crypto services provider Matrixport projects that Bitcoin could rally to $63k by March 2024 when the coin is likely to undergo mining reward halving. (<a href="https://www.coindesk.com/markets/2022/10/28/bitcoin-could-rally-to-63k-by-2024-mining-reward-halving-matrixport/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>The average daily trading volume of institutional crypto products had fallen 34.1% to a record low of $61.3 million in October, according to data from CryptoCompare. (<a href="https://cointelegraph.com/news/october-sees-owest-ever-daily-trading-volume-for-crypto-products-report" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="policy">Policy</h3><ul><li>The Central Bank of Turkey plans to launch a digital Turkish Lira CBDC in 2023. (<a href="https://www.coindesk.com/policy/2022/10/25/central-bank-of-turkey-plans-to-launch-a-cbdc-in-2023/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>The National Bank of Kazakhstan will integrate its CBDC on Binance-associated blockchain BNB Chain to test use cases. (<a href="https://www.coindesk.com/policy/2022/10/27/kazakhstan-to-test-national-digital-currency-on-bnb-chain-binance-ceo-zhao-says/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Hong Kong plans to legalize retail trading of crypto as it looks to become a crypto hub. Crypto platforms will be required to apply for a license to offer retail trading. (<a href="https://www.coindesk.com/policy/2022/10/27/hong-kong-to-make-retail-crypto-trading-legal-report/" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="projects">Projects</h3><ul><li>DeFi and stablecoin protocol Frax Finance now offers ether liquid staking with a two-token model that supposedly allows users to earn above-average staking yields. (<a href="https://www.coindesk.com/markets/2022/10/28/frax-finance-unveils-ether-liquid-staking-service-with-a-dual-token-model/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>The THORChain network was halted on October 27 for more than 20 hours after a bug had caused “non-determinism between individual nodes.” (<a href="https://cointelegraph.com/news/thorchain-network-resumes-following-20-hour-chain-halt" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Crypto lobbying organization The Blockchain Association filed for permission to support Ripple as a friend of the court in its ongoing defence against the U.S. SEC. (<a href="https://www.coindesk.com/policy/2022/10/28/crypto-lobbyist-group-blockchain-association-asks-court-for-permission-to-support-ripple-against-sec-case/" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h3 id="web3-0">Web3.0</h3><ul><li>Payments giant Visa has filed two trademark applications related to digital wallets, NFTs and the metaverse. In 2020, it filed a patent application for a process for turning physical fiat currency into a newly digitized version. (<a href="https://www.coindesk.com/business/2022/10/28/visa-files-trademark-applications-for-crypto-wallets-nfts-and-the-metaverse/" rel="noopener noreferrer nofollow">Learn more</a>)</li><li>Data from Layoffs.fyi found that over 700 tech startups have experienced layoffs this year, impacting at least 93,519 employees globally, leading to tech talent migration to early-stage Web3 companies. (<a href="https://cointelegraph.com/news/tech-talent-migrates-to-web3-as-large-companies-face-layoffs" rel="noopener noreferrer nofollow">Learn more</a>)</li></ul><h2 id="header-2">What’s New at ApolloX</h2><ul><li><strong>New Perpetual Contract</strong> - All ApolloX users can now trade MASKUSDT with up to 50x leverage! (Trade now)</li><li><strong>DEX Engine Partnerships</strong> - ApolloX is pleased to announce the latest partnership for the DEX Engine with Palmswap and Blue Lotus DAO. (<a href="https://apollox.link/new-partners-28-oct" rel="noopener noreferrer nofollow">Learn more</a>)</li><li><strong>SpaceID x ApolloX</strong> - Space ID .bnb domains are now integrated on ApolloX DEX for a more personalized and user friendly experience! (Connect wallet)</li><li><strong>LiveArt x ApolloX</strong> - Active voters for #ChampionshipOnBNBChain artists will get a secret gift from BNB Chain! (<a href="https://twitter.com/ApolloX_com/status/1585594662043033600" rel="noopener noreferrer nofollow">Vote now</a>)</li><li><strong>HAY $4000 Welcome Promotion</strong> - All ApolloX DEX users who use $HAY as collateral to trade futures can join a $2000 airdrop and a $2000 trading competition! (<a href="https://apollox.link/helio-welcome" rel="noopener noreferrer nofollow">Trade now</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> | <a href="https://coinmarketcap.com/community/" rel="noopener noreferrer nofollow">CMC Community</a></p>

Weekly Report (24-30 Oct 2022): Over $1.9B shorts liquidated this week as BTC remains above $20k

Table of Contents

APX

Other articles published on Oct 31, 2022

[Review] Last Week's Top 5 Performing Crypto & NFT to Watch

Blockchain Security Alliance Q3 2022 Blockchain Security Report

Halloween Carousel Event - LIVE NOW - Play and EARN !

Best ways to make profits in the blockchain world

Shido launching new Blockchain. ShidoChain - Layer 1 EVM Blockchain

Binance’s US Arm Hired a Former FBI as Its Head of Investigation

Join our free newsletter for daily crypto updates!