Welcome to the VOOI Signal Newsletter - a series of industry recaps, where we review the symbolic events of the past two weeks, and present to you only major important announcements from the actively growing projects and protocols.
This newsletter is crafted and issued by VOOI - an intent-based perp DEXs aggregator.
Let’s get into the review of these two eventful weeks.
This Monday, on Aug 5th the crypto market experienced a severe turbulence, causing the whole Top 100 most popular tokens and coins to lose their price marks. The geopolitical instability in several world regions, stocks falls in numerous countries, the U.S. economy metrics - several factors contributed to the “crash” of the market.
In regards to trading, the fall of the prices led to a high volatility on the market, resulting not only in the liquidations, but also in the increase of trading activity with the traders trying to make up for the losses. According to the open data in DefiLlama, on 5th of Aug the overall trading volume of derivatives protocols increased by 29,4%.
To understand the greater scope of the mood in the trading industry, we should also take a look at what the trading and crypto community streams to the masses.
This is a reminder for all our readers to DYOR and do not take any of the mentioned opinions as financial advice. VOOI team may not share the same point of view.
While the part of the trading community feels not confident enough to engage with the current market, others tend to stay bullish for the several important reasons;
Some of the market participants believe the occurred “Crypto Black Friday” does not indicate the upcoming crash signals;
Although, a couple of experienced traders tend to back up a little bit, looking for “chilling” and “confirms”;
Risk-management led traders broadcast the opinions on rather staying safe than going for the risk in the current situation.
Despite the significant market drop, the Perpetual Trading industry, on the other hand, has shown some extraordinary results. Let’s take a closer look them 👇
Orderly Network hits the highest mark of daily trading volume for the past 90 days, resulting in $1,8 billion threshold;
Cross-Chain Liquidity trading protocol Vertex Edge reached the $1,1 billion daily trading volume for the first time;
Another ATH was reached by one of the leading Perp DEX - Hyperliquid - $4,3 billion daily trading volume;
The first Storm Trade token presale event hits the mark of $1 million of the acquired $STORM tokens;
One of the leading Perp DEXs on Solana Drift achieved the daily ATH of trading volume, almost reaching almost $1 billion.
ApeX Perpepual Trading platform has launched the Grid Bot to automate orders with negative fees for the limited time;
Vooi launches the support of Base for trading on SynFutures, providing new exclusive pairs;
The new Perp DEX edgeX has launched the first version of its mainnet;
dYdX expand the markets availability for traders, onboarding 9 more markets including $SAFE, $ENA, etc.
GMX’s Buyback program successfully passed the DAO Governance voting, and will be implemented soon;
Elixir announced the Second Season of its Apothecary campaign upon the launch of deUSD asset, users can now earn Potions (points) via additional streams;
JOJO Exchange introduced the next season of the $JOJO token airdrop, opening the claim for the participants of the first season;
Orderly Network continues to tease the upcoming $ORDER airdrop, entering the 18th out of 20 epochs for the Merits campaign;
SynFutures has launched a trading competition in a collaboration with Lido, bringing traders to interact with assets and share the prize pool;
The Moon Listing Event program by Aark has started, onboarding Top 20 assets from Binance Perps with exclusive rewards for users.
Arbitrum trading GM pools on GMX hit the new outperforming records - read the full analysis.
Thanks for checking in!
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