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Weekly Report (16-22 Jan 2023): BTC touched $23.3k this week, More room to move higher

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Blog / Trading / DeFi

Weekly Report (16-22 Jan 2023): BTC touched $23.3k this week, More room to move higher

ApolloX

By ApolloX

Created 17 days ago, last updated 17 days ago
4 mins read
Weekly Report (16-22 Jan 2023): BTC touched $23.3k this week, More room to move higher
  • Top ApolloX Gainer: APTUSDT (+67.70%)
  • Top ApolloX Loser: CHZUSDT (-3.41%)

Token QuickSnap

APT, the token of the Aptos blockchain, saw an increase in price of over 60% in the last 7 days as NFT collections on Aptos attracted spikes in trading volume in the past week. Meanwhile, the native token of fan token platform Socios, CHZ, dropped over 3% in the last 7 days.

*Data cited from CoinMarketCap

Market Analysis

BTC price traded within the $20.5k and $21.5k range for most of the week. On Jan. 22, BTC saw its best 2023 price of $23.3k briefly, but closed the week below $23k. In the derivatives market, Bitcoin open interest increased by $834 million this week as compared to last week, on renewed optimism following positive price action. Aggregated funding rates remain positive as well. Over $642 million short positions and over $535 million long positions were liquidated this week. Around $235 million shorts were liquidated on Jan. 20 alone when BTC pumped.

Source:

CryptoBytes

Investment Talk & Policy

  • Crypto lending firm Genesis claims $5.1 billion in liabilities in the weeks following its freeze on withdrawals last November, according to bankruptcy court documents signed by interim CEO Derar Islim. (Learn more)
  • Bitcoin miner 1Thash sent nearly 5,600 bitcoin (BTC), about $124 million worth, to the Binance crypto exchange. Usually, large BTC inflows from miners to exchanges like Binance is a bearish signal. (Learn more)
  • The U.S. SEC has charged DeFi trader Avraham Eisenberg over his draining of $116 million from Mango Markets in October. However, the charges rest on their assertion that governance token MNGO is a security. (Learn more)
  • United States prosecutors have seized nearly $700 million worth of assets linked to FTX or Sam Bankman-Fried, including more than 55 million shares in Robinhood. (Learn more)

Projects

  • Ethereum co-founder Vitalik Buterin proposed the concept of “stealth addresses” as  a privacy solution, as all information that goes onto a “public blockchain” is public. He said “stealth addresses” can potentially anonymize P2P transactions, NFT transfers, and ENS registrations, protecting users. (Learn more)
  • A Hong Kong-based blockchain company has launched a digital payments system that would serve a purpose similar to what the SWIFT network does for banks, but aimed at bridging the gap between stablecoins and CBDCs. (Learn more)
  • Virtual world platform Decentraland has three of its executives and founders listed among the 50 largest non-insider unsecured claims against Genesis Global. Genesis filed for bankruptcy protection on Thursday. (Learn more)

Digital Assets & Web3

  • Yuga Labs released its Sewer Passes for minting on Wednesday, yielding over 4,000 ETH (over $6 million) in total sales volume within hours of release. (Learn more)
  • NFT marketplace Rarible is expanding its white-label marketplace building tool for Polygon-based collections. (Learn more)

What’s New at ApolloX

  • ApolloX Lite Mode - The new ApolloX Lite Mode is live! Users can now trade ALP-PERP contracts with zero slippage. (Learn more)
  • ApolloX Community AMA - Join ApolloX’s first ever Telegram Community AMA with CaptainX on Jan. 30 to learn more about ALP and Lite Mode! (Learn more)
  • Champs & Affiliates Appreciation - In conjunction with the festive period, all active champs and affiliates will receive lucky rewards ranging from 8 - 888 APX. (Learn more)
  • APX Token Repurchase Update - The total number of cumulative APX tokens repurchased hit 10 million. (Learn more)
  • New Twitter Handle - ApolloX has bid its old Twitter handle goodbye. @ApolloX_Finance is now the official new Twitter handle! (Learn more)

Trading & Competitions

  • ALP Whitelist Benefit - Buy and hold at least 1,000 USDT worth of ALP for a minimum of 30 days to earn an additional 1,000 APX! Ends Feb. 28. (Buy now)
  • Helio & ApolloX Campaign - ApolloX is proud to partner with Helio for the Lunar New Year Campaign. Win up to 9,000 HAY by completing simple tasks on Galxe! (Join now)
  • Mint $88 ALP, Win $88 APX - Mint and hold at least $88 ALP for 8 days to win $88 APX! (Learn more)
  • ALP-PERP Zero-Fee Trading Campaign - ApolloX has implemented zero-fee trading for ALP-PERP contracts on Lite Mode! Ends Feb. 3. (Trade now)

Risk Reminder: 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.

The ApolloX app is available on Apple Store or Google Play here.

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