Off the Grid's black market is thriving as players trade skins and GUN tokens for real money ahead of the GUNZ L1 mainnet launch.

Daily Top Performer — Story Protocol (IP)

The S&P 500 slid 3.1% last week, weighed down by trade policy uncertainty and global tensions. Gold held above $2,900, supported by Trump’s tariff threats and a weaker US jobs report. Coindesk Indices, which tracks the broader crypto market, fell 5.39% in the past 24 hours, with Bitcoin down 5.47% and Ether up 2.33%. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is IP, up 8.0% following the launch of Story Protocol’s IP Portal Public Preview.

Story Protocol (IP), founded in 2022, is a Layer 1 blockchain that tokenizes IP to ensure attribution, royalties, and fair creator compensation in an AI-driven economy. Story Protocol has launched the 

, the first step toward a decentralized IP monetization platform. Users can register IP, set licensing terms, manage assets, and opt in for AI training. Upcoming features include instant licensing, automated royalties via smart contracts, and dispute resolution. The platform aims to simplify and decentralize IP management while tailoring future updates to industry-specific needs.

Check Out the Latest Prices, Charts, and Data of 

Off the Grid's black market is thriving as players trade skins and GUN tokens for real money ahead of the GUNZ L1 mainnet launch. With official on-chain trading still unavailable, players turn to Discord groups and OTC deals, some exceeding $60,000. Despite risks, many believe item values will surge post-launch. Gunzilla Games aims to enable official trading by Q1 2025, but until then, underground markets continue to grow.

BTC Spot ETFs saw $739.2M in net outflows this week, with GBTC losing $125.4M and non-GBTC funds shedding $613.8M. The largest outflow occurred on March 7, with $409.3M withdrawn. Since inception, BTC Spot ETFs have recorded $36.2B in net inflows, as non-GBTC funds gained $58.6B, offsetting GBTC’s $22.4B in losses.

Cytonic, a Layer 1 Multi-VM blockchain enabling seamless interoperability across Bitcoin, Ethereum, and Solana, has launched its 

 event. Users can earn Flames (points) by opening chests using Energy generated from deposits, with $200 recommended for better rewards. Deposits are supported across multiple chains, and withdrawals take 5 days. Complete tasks, open chests, and stay tuned for future lottery events to maximize rewards.

Beginner

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Off the Grid Players Fuel Market Economy Ahead of GUNZ Mainnet Launch

Mar 10, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Fed likely to stay put amid softening job market

US job growth stabilized last month, with nonfarm payrolls increasing by 151,000 in February 2025, while the unemployment rate rose to 4.1%. This mixed report from the Bureau of Labor Statistics suggests a softening labor market, with more people out of work permanently, a decline in federal government jobs and a rise in part-time workers due to economic conditions. The number of individuals holding multiple jobs reached nearly 8.9 million.

Concerns about US president Donald Trump's policies have added to the uncertainty, as persistent inflation and reduced consumer spending might lead businesses to reconsider hiring. Economists predict that continued government actions, such as tariff hikes and spending cuts, could have a further impact on job creation.

The advance in hiring was primarily in the healthcare, transportation and financial sectors, but government payrolls saw their weakest growth in nearly a year. The report reflects the initial impacts of Trump’s second term, with significant job cuts anticipated due to federal layoffs.

Additionally, restrictions on immigration may hinder job growth. The labor market participation rate dropped to its lowest in two years, particularly among men, while the number of part-time workers rose to a four-year high, pushing the broader underemployment rate up.

Average hourly earnings increased by 0.3%, but economists warn that layoffs from major companies could lead to a rise in unemployment in the coming months. The Federal Reserve is expected to maintain interest rates, awaiting clearer signs of inflation trends.

Weekly crypto highlight — strategic reserve proposal fails to lift sentiment

De-risking in the crypto derivatives markets persisted following President Trump's proposal to include Bitcoin, Ether and three other tokens in a national strategic crypto reserve. While Trump's announcement briefly boosted crypto prices, it didn’t improve premiums or open interest for Bitcoin futures on the CME. The basis, reflecting the annualized expected return from selling Bitcoin futures while buying spot, experienced a momentary increase, but quickly fell back, indicating that US institutional investors remain cautious.

Perpetual futures, popular among non-US investors seeking leverage, also mirrored this trend, with their funding rate hitting negative levels not seen since September 2024. Trump's announcement did little to enhance sentiment on the CME, as the basis remained in single digits during Bitcoin's brief recovery. It’s noted that Trump's policies continue to disrupt broader financial markets, with crypto failing to act as a safe haven amid global uncertainty.

Increased liquidations and record outflows from Bitcoin exchange-traded products suggest ongoing risk aversion. Even crypto investors, traditionally tolerant of volatility, are opting to stay on the sidelines as they observe the early months of Trump's second term. Although Trump's pro-crypto stance previously propelled Bitcoin to new heights, his recent tariff policies and unpredictable geopolitical maneuvers have unsettled the crypto landscape.

Advanced

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Weekly Institutional Insights: Job market softens; ETF outflows send headwind to crypto

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, as well as futures, options and perpetual contracts.

Crypto price movements remain heavily influenced by US president Trump’s policies. Recently, several SEC cases against crypto firms were dropped, which is positive for the industry. This was followed by Trump’s announcement to include BTC, ETH, XRP, SOL and ADA in a US strategic crypto reserve. However, ongoing bearish sentiment in risk assets, highlighted by a decline of over 5% in the S&P 500 since its February all-time high, has negatively impacted crypto. 

Consequently, BTC and ETH have experienced heightened volatility, resulting in an inversion of their at-the-money implied volatility term structures, with strong demand for short-term protective puts.

Please check out the report’s highlights.

President Trump’s announcement on Mar 2, 2025 regarding a US crypto reserve to include BTC, ETH, SOL, XRP and ADA led to a sharp rally in their spot prices. However, funding rates for these tokens have remained subdued, compared to previous highs seen before Trump’s inauguration on Jan 20, 2025. Over the past week, long positions have paid a consistently positive rate across all coins, indicating a lack of strong short demand and potentially robust demand for long positions.

The rally in spot prices following Trump’s announcement of a US crypto strategic reserve to include ETH quickly reversed, as his ongoing tariff pledges contributed to bearish sentiment in risk assets. This volatility has pushed realized volatility above options-implied levels to monthly highs, leading to increased demand for short-term options. The term structure of volatility has inverted, with short-term volatility skewing toward puts as traders seek protection against potential downside.

Open interest in Solana (SOL) options declined at the end of February, with over $5M in calls and more than $3M in puts expiring, most of which weren’t rolled into new positions. Despite SOL trading 44% below its January all-time high, the majority of new positions have been in calls. However, this new positioning is disappointingly weak, given SOL's inclusion in the list of tokens for a crypto strategic reserve announced by Trump alongside BTC, ETH, XRP and ADA.

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Bybit X Block Scholes crypto derivatives analytics report (Mar 7, 2025): Investors seek protection as strategic reserve news rattles market

Exchange-traded funds (ETFs) linked to cryptocurrencies have seen notable activity, particularly in response to the recent market downturn. 

Market volatility and geopolitical influences

The cryptocurrency market has been marked by extreme price fluctuations in recent weeks, primarily influenced by political events and economic conditions. A notable catalyst has been US president Donald Trump’s aggressive financial policies, including his unexpected announcement of a US crypto strategic reserve. Initially, this announcement led to a surge in prices; however, the market quickly reversed, raising doubts about the effectiveness of government intervention in stabilizing the crypto sector.

Bitcoin, the top cryptocurrency, experienced a significant drop of 28.3% from its all-time high of $109,115, closing February at $78,226. This decline coincided with a heated exchange between Trump and Ukrainian President Zelensky, which unsettled the crypto community amid discussions about potential tariffs and geopolitical stability. The broader crypto market lost over $640 billion in just 25 days, showcasing a direct correlation between traditional stock market movements and cryptocurrency trends.

Investor behavior has been characterized by emotional responses, including fear of missing out (FOMO) and fear, uncertainty and doubt (FUD). These reactions have often led to price movements that contradict prevailing predictions. For example, during Bitcoin’s price decline, many retail traders panicked and sold off their holdings, only to witness a rebound shortly after. Conversely, price surges driven by FOMO frequently result in subsequent corrections, allowing larger investors (or 

Social media trends indicate a shift in trader sentiment, with discussions around high price targets for Bitcoin suggesting a market top, while talk of lower price expectations may signal a bottom. Recent data reveals a decline in discussions related to speculative investments, indicating a growing caution among retail investors. This shift toward stablecoins and Layer 1 tokens reflects a healthy level of fear that could potentially set the stage for bullish momentum in the future.

The role of ETFs and institutional interest

 (ETFs) linked to cryptocurrencies have seen notable activity, particularly in response to the recent market downturn. Significant outflows from crypto-backed ETFs occurred as investors reacted to declining asset values, resulting in heightened trading volumes. The interplay between ETF movements and underlying crypto assets continues to be crucial for assessing market health and investor confidence.

Despite the current volatility, institutional interest in digital assets remains strong, as indicated by Bitcoin's network growth and ETF trading volumes. This ongoing institutional engagement may provide a stabilizing effect on prices over time. Historically, periods of extreme pessimism in the market have preceded major bull runs, suggesting that traders could soon shift from panic to accumulation.

In conclusion, while the cryptocurrency market faces immediate challenges, the long-term outlook may be more optimistic. If key macroeconomic conditions improve and institutional buying increases, Bitcoin could potentially rise above the $100,000 mark by the end of 2025. For now, traders must navigate the volatility wisely to position themselves for future rewards.

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Bybit x Santiment: Crypto strategic reserve unnerves market; investors turn cautious

Bybit Learn

Bybit Guide

Here's the step-by-step guide for you to withdraw the funds from your Bybit spot or derivatives wallet easily.

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Looking to withdraw some of the profit you've earned from trading on Bybit? There are two ways you can go about doing it, depending on whether you’re making an on-chain transfer to another exchange or wallet, or an internal transfer.

Regardless of whether you’re making an on-chain or internal transfer on the web, go to 

 at the top right-hand corner of the home page and click on 

 from the drop-down list. Then, click on 

in the column of the currency you want to withdraw, or the 

Log in to your Bybit account and click on 

 at the top right-hand corner of the home page. Then, click on 

Bybit supports withdrawals for coins listed on the Spot Assets page or the Funding Assets page with an available Withdrawal button.

button of the corresponding account you would like to withdraw from.

 You will be able to select the account from which the withdrawal will be performed in the Withdrawal window. You can click on the 2 arrows icon to transfer assets from your other accounts to your Funding or Spot Accounts if needed.

Select the coin to withdraw as well as the withdrawal wallet address. You can either: 

If you haven’t added a withdrawal address yet and would like to do so, please click on 

 to set up your withdrawal address. For more details, please refer to 

 Choose the type of chain you would like. You will see the withdrawal fee amount for each blockchain network accordingly.

 Input the amount you want to withdraw, or click on 

 to make a full withdrawal. Once the chain type is selected, the minimum withdrawal limit for this particular coin and blockchain network will be displayed on the right side of the withdrawal window.

 and you’ll be directed to the withdrawal verification page. The following two verification steps are required: Email verification and Google Authentication if your wallet address is not verified.

If your address is verified in the Withdrawal Address Whitelist, you won’t need to go through the 2FA verification process, and you can submit the withdrawal request as below. To verify your withdrawal wallet address, you can follow this 

 To retrieve your email verification code, click on 

 and drag the slider to complete verification.

 An email containing your email verification code will be sent to the registered email address of your account. Please enter the verification code you’ve received.

 Please enter the 6-digit Google Authenticator 2FA security code you’ve obtained. 

. Your withdrawal request has been successfully submitted!

How to Withdraw Assets via Internal Transfer

 at the top right-hand corner of the home page and go to your 

 in the column of the currency you want to withdraw.

 Withdrawals will only be performed via your Funding or Spot Account. If you want to withdraw your assets from other accounts, please transfer assets from other accounts to your Funding or Spot Account by clicking on 

 Please select or fill in the following parameters to submit your withdrawal request:

Please ensure all information is correct before clicking on 

 and you’ll be directed to the withdrawal verification page. The following two verification steps — email verification and Google Authentication — are required if your email address and/or mobile number are not yet verified. To learn more about how to manage your withdrawal security, please refer to this page.

 and drag the slider to complete the verification. An email containing your email verification code will be sent to the registered email address for your account. Please enter the verification code that you’ve received.

 If you have not received the email, please check your spam folder or refer to 

. The verification email is only valid for five minutes.

To view your internal transfer history, please head to your 

 column. If you are the recipient, select 

How long does it take to withdraw my funds?

Bybit supports immediate withdrawal. Instant withdrawal may take up to 15 mins to process. However, please note that in the event of high network congestion, withdrawals may take a longer time to process.

Once you’ve successfully submitted a withdrawal request, all the remaining bonuses in your account will be cleared to zero. Traders can check their withdrawal status via this link: 

Understanding the Withdrawal Status at the History

Is there a maximum amount limit for a single instant withdrawal?

Currently, yes. There's a limit on withdrawal for users that resets daily at 00:00 UTC.

The table below denotes the maximum amount of USDT that can be withdrawn at each KYC level. Note that a fixed withdrawal fee will be charged, regardless of the amount withdrawn.)

While VIP users are automatically given higher withdrawal limits, you can manually change your limit by clicking on 

. Please take note of the various withdrawal fees that are incurred for all withdrawals of any amount from Bybit. Traders can refer to the minimum withdrawal and fees stated at the withdrawal pop-up window, depending on the selected chain for funds withdrawal.

Using USDT as an example, depending on the Chain Type, the fee differs.

Withdrawal fees on Bybit are not included in the amount indicated on the screen. Therefore, users need to factor in the fees indicated to determine the final withdrawal amount. However, traders can choose to click on the 

button to withdraw all of their funds, and the system will automatically adjust the final amount, including the incurred fees.

Is there a minimum amount for deposit and withdrawal?

What do I do if my Bybit account is restricted from funds withdrawal?

There are several reasons your account may be temporarily suspended from funds withdrawal. This could be because we’ve detected suspicious activity in your account, or because the transaction does not fulfill our T&C.

Some of the following could trigger withdrawal restrictions for 24 hours:

For more information, please refer to Common Reasons for Unsuccessful Withdrawal Request Submissions.

If your account remains locked for over 24 hours, please seek help from our dedicated 

. Alternatively, you can seek self-directed assistance on 

How to Make a Withdrawal From Bybit

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards