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

Despite the recent surge in spot prices, there remains a significant gap between long- and short-dated implied volatility. As a result, market participants are focusing more on post-U.S.-election expectations rather than the recent bullish trends in spot prices. This shift has resulted in a rise in realized 7-day volatility, which now aligns with the implied volatility levels of 30-day tenor options. Additionally, bullish responses to spot price movements are evident in perpetual funding rates, which are now positive for nearly all tokens.

Please check out the report’s highlights.

Futures Activities Final Sees Increase Since Early September, but Still Lags Behind Perps

In the past week, futures open interest has experienced only a modest increase. Although a substantial rally in spot prices has pushed BTC back to the upper end of its range, this rise hasn't been matched by a corresponding increase in futures open positions, which haven’t yet returned to their levels prior to the option expiration in late September.

In contrast to the futures market, perpetual swap open interest has risen in line with the bullish price action early this week, reaching its highest levels in the past month. As with futures markets, there was a significant spike in trading activity Monday and Tuesday as the spot price rally boosted volumes. This surge in bullish sentiment has led to increased participation in perpetual contracts. The market continues to be heavily dominated by BTC, with traders clearly favoring Bitcoin over Ethereum in their positioning.

BTC Options Volatility Front-Runs U.S. Election

In the past week, the front end of the implied volatility term structure has remained relatively stable, highlighting the significant disconnect between long- and short-dated options, particularly in light of the upcoming U.S. election. As a result, the derivatives market is responding more to post-election expectations than to the recent bullish movements in spot prices, which have finally caused realized volatility to align with implied volatility levels. 

Spot price activity has also seen an increase in open positions, mirroring trends in futures and perpetual contracts. However, this uptick in positioning hasn’t been accompanied by a spike in trade volumes, indicating more gradual growth.

Advanced

block-scholes-x-bybit-report.jpeg

Bybit X Block Scholes Crypto Derivatives Analytics Report (Oct 16, 2024): BTC Options Volatility Front-Runs U.S. Election

The TON Foundation has collaborated with Axelar to link its ecosystem with 68 blockchain networks through Axelar’s Mobius Development Stack (MDS) and Interchain Amplifier technology. 

The SPX index was up by 0.47%, with nine of its 11 sectors advancing, led by utilities, financials, and real estate, while communication services and consumer staples lagged. Investors are now focused on upcoming corporate earnings (e.g., Netflix and Blackstone) and key economic data, including jobless claims, retail sales, and industrial production. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 0.41%, with Bitcoin and Ether rising by 1.16% and 1.80%, respectively in the past 24 hours.

Today's top performer is DOGE, which surged 6.5% following Elon Musk's "D.O.G.E." tweet.

Dogecoin (DOGE), launched in 2013, is a peer-to-peer cryptocurrency created as a decentralized "joke coin." Despite its meme origins, it has grown into a popular crypto used for payments, crowdfunding, and tipping, with support from figures like Elon Musk. DOGE has achieved significant market cap growth and remains community-driven without a central authority. Recently, Dogecoin's price has increased following 

, "D.O.G.E. will fix it." Currently priced at $0.1263, DOGE has a market cap of $18.5 billion. Although it is down 83% from its 2021 peak, it remains the largest meme coin, boasting a loyal following bolstered by Musk's social media endorsements.

Check Out the Latest Prices, Charts, and Data of 

The TON Foundation has collaborated with Axelar to link its ecosystem with 68 blockchain networks through Axelar’s Mobius Development Stack (MDS) and Interchain Amplifier technology. This partnership aims to improve scalability, streamline cross-chain interactions, and remove the necessity for bridges, providing TON users with a more seamless Web3 experience. This initiative aligns with a growing trend in the Web3 landscape towards cross-chain interoperability, similar to Ronin Network's recent integration with Chainlink’s CCIP.

Yesterday, the total flow for BTC Spot ETFs was $65.1 million, with all of it coming from non-GBTC sources, while GBTC had no flow.

 it will launch on mainnet by late Q4 and introduced its native token, $C, hinting at an upcoming airdrop. Users are encouraged to stay active and collect Zicrons to potentially qualify. For more details, a guide is available 

Beginner

3.png

TON Partners with Axelar to Enhance Cross-Chain Interoperability Across 68 Blockchains

ETFSwap is a decentralized investment platform that’s revolutionizing ETF investments by merging traditional finance with blockchain technology. Read more here.

In 2024, the fusion of traditional finance and blockchain technology has set the stage for a revolution in the way investors access and trade 

 (ETFs). With major financial institutions like 

, the momentum for crypto-based exchange-traded funds has never been stronger.

ETFSwap is poised to capitalize on this trend by offering a decentralized platform that integrates the stability of ETFs with the flexibility of 

 (DeFi). In this article, we’ll explore what makes ETFSwap the most anticipated crypto presale of 2024, and dive into its features, road map and potential to revolutionize ETF investments within the crypto ecosystem.

 is a decentralized investment platform that’s revolutionizing ETF investments by merging traditional finance with blockchain technology. Built on the 

 standard, it empowers users to securely trade, stake and manage tokenized ETFs within an anonymous ecosystem.

An exchange-traded fund (ETF) is an investment fund that holds a collection of assets — such as crypto, stocks, bonds, commodities or a mix of these — and trades on stock exchanges throughout the trading day, much like individual stocks.

ETFSwap was founded by a team of blockchain pioneers and financial experts who identified a pressing need to democratize access to institutional-grade ETFs. They recognized that the traditional ETF market was ripe for disruption, with prohibitively high barriers to entry and limited flexibility in terms of investment options.

To address these challenges, the ETFSwap team set out to create a platform that leverages blockchain technology in order to offer greater accessibility, security and efficiency to people looking to invest in ETFs. After years of research, development and testing, ETFSwap was launched in 2024 to set new benchmarks in the tokenized ETF market.

ETFSwap is designed to address the limitations of traditional ETFs by bringing them on-chain. Its primary goal is to eliminate the constraints of centralized trading platforms that often limit investor accessibility, especially in the crypto market.

The platform empowers users by enabling seamless trading of tokenized ETFs, direct conversion between cryptocurrencies and ETFs, and complete control over their investments — all without relying on intermediaries.

ETFSwap also seeks to create a seamless connection between traditional finance and blockchain-based DeFi, making it easier for retail and institutional investors to diversify their portfolios. Through this integration, ETFSwap strives to democratize ETF access, enhance financial inclusivity and provide innovative solutions to existing market challenges.

ETFSwap operates as a decentralized platform built on the 

 blockchain and uses the ERC-20 standard. Its core mechanics revolve around tokenizing traditional exchange-traded funds and enabling these tokenized assets to be traded seamlessly within the crypto ecosystem. Let’s look at how the process works.

The tokenization process is at the foundation of ETFSwap's operations, whereby traditional ETFs are converted into digital assets represented by ERC-20 tokens. This innovative process allows these ETFs to be traded, staked or managed on a decentralized network.

 (DEX) protocol to facilitate trading. This DEX allows users to buy and sell tokenized ETFs directly from their 

 without the involvement of intermediaries.

The entire process on ETFSwap is governed by 

 that automatically execute terms of each agreement, directly written into code. These smart contracts handle everything from transaction execution to staking rewards, in order to ensure all processes are automated, transparent and tamperproof.

 model in which users can contribute their assets to the pool in exchange for rewards. This model facilitates efficient trading, helps maintain price stability and reduces transaction 

. The liquidity users provide is crucial for enabling seamless 

 and supporting the platform's decentralized nature.

ETFSwap integrates advanced cryptographic techniques such as 

 to safeguard user data and maintain anonymity. This approach ensures that while transactions are validated on the blockchain, their specifics remain private to protect user identities.

ETFSwap offers a range of innovative features that combine traditional ETF investing with the advantages of blockchain technology. These attributes enhance liquidity, provide investment flexibility and offer advanced trading options within a secure, decentralized platform.

The swap functionality is ETFSwap's core feature. It enables users to directly exchange cryptocurrencies for various tokenized ETFs. Users can apply the ETFscreener to search for specific ETFs and then execute a swap to add the desired ETF to their portfolio.

Deep liquidity pools ensure minimal slippage and competitive rates, allowing investors to adjust their portfolios quickly as market conditions change. The platform’s swap feature cuts out intermediaries and lowers transaction costs, giving users the flexibility to make swift investment moves in a fully decentralized environment.

ETFSwap offers a robust staking program that incentivizes users to hold and lock their ETFS tokens (the native utility token of ETFSwap) within the platform. By staking their tokens, investors can earn an attractive 

 (APY) that varies depending upon the assets staked.

ETFSwap distinguishes itself by providing advanced trading instruments, such as 

 contracts. These financial derivatives allow investors to use sophisticated trading strategies to hedge against market volatility, speculate on price movements and/or diversify their investment portfolios.

By integrating these advanced trading features, ETFSwap caters to both novice investors seeking diversification and experienced traders looking for sophisticated tools to manage risk and optimize returns.

ETFSwap’s road map outlines key milestones focused on expanding the platform and enhancing user value.

The initial stage of ETFSwap's development focuses on building a solid foundation for the platform. Key milestones include:

In the second stage, ETFSwap aims to expand its reach and enhance user engagement through several initiatives:

This stage focuses on the critical milestones related to the presale and official token launch:

In the final stage, ETFSwap will focus on scaling its operations and introducing innovative features to the platform:

Every decentralized platform needs a native token, and for ETFSwap, that’s ETFS. Built on the ERC-20 standard, ETFS drives the platform’s ecosystem and supports seamless user interactions.

The ETFS token has a total supply of 1 billion, strategically distributed to ensure long-term sustainability and ecosystem growth:

The ETFS token plays a vital role in the ETFSwap ecosystem, with several key functions:

 model to increase its value over time. A 1% buy tax on all ETFS token purchases is directed to a 

 wallet to reduce the total supply and create scarcity. Additionally, a 5% sales tax is allocated to a rewards pool to be distributed among token holders and liquidity providers, further incentivizing participation in the platform.

Predicting the future price of ETFS involves considering various factors, including market trends, platform adoption and the overall growth of the crypto ETF market. Given the increasing interest in crypto ETFs and in ETFSwap's strategic approach, many analysts anticipate a positive outlook for ETFS in the coming years.

Some market predictions suggest that ETFS could experience significant growth, with potential returns for early investors ranging from 

. These bullish forecasts are based on the platform's innovative features, deflationary tokenomics and the growing demand for decentralized ETF solutions.

ETFS could be a promising investment, thanks to the project's robust road map, innovative tokenization of ETFs, advanced trading options, deflationary tokenomics structure and other unique features. These combined elements may attract the crypto community and potentially enhance the token's value over time.

Major financial institutions’ interest (such as 

) in the crypto ETF market also signals a strong future for the decentralized investment platform space. As the anticipated crypto ETF boom hits, the demand for platforms like ETFSwap will likely surge, making the ETFS token a valuable asset for investors.

However, given the volatile nature of cryptocurrencies, it’s still important for users to 

ETFSwap is set to significantly impact the investment landscape by bridging the gap between traditional ETFs and DeFi. With its innovative features, deflationary tokenomics and commitment to enhancing accessibility, it's easy to see why the ETFSwap presale is among the most anticipated in 2024.

Intermediate

etfswap, etfs.png

ETFSwap (ETFS): The Most-Anticipated Crypto Presale of 2024

Explore our article to find out more about Bybit’s collaboration with Oracle Red Bull Racing during TOKEN2049 Singapore 2024.

At the intersection of high-speed Formula One racing and cryptocurrency trading, TOKEN2049 2024 unfolded as a testament to innovation and collaboration. Held in Singapore from Sep 18–19, 2024, this premier annual gathering of the brightest minds in the blockchain and cryptocurrency sectors delved into the synergistic relationship between the precision of motorsports and the volatility of the crypto market. TOKEN2049 Singapore 2024 offered its attendees a unique perspective on the integration of sports, technology and finance.

TOKEN2049 Singapore 2024: From Racetrack to Cryptosphere: The DNA of Champions

The highlight of TOKEN2049 Day 1 was undoubtedly the panel featuring Bybit’s co-founder and CEO, Ben Zhou, alongside Oracle Red Bull Racing drivers Max Verstappen and Sergio “Checo” Pérez. Moderated by Caroline Buckland, Head of Global Fan Engagement at Oracle Red Bull Racing, the session promised an intriguing look at the parallels between Formula One and the cryptosphere. The room was packed and the air thick with anticipation as attendees filled every available seat, with some standing at the sides, not wanting to miss a moment. As the panelists took the stage the crowd roared with excitement, with some running to the front of the stage to capture photos of the stars up close. 

From Racetrack to Cryptosphere: The DNA of Champions,

 certainly didn’t disappoint. It offered a fascinating dive into the worlds of elite racing and crypto trading — arenas in which precision and resilience are paramount. Ben, Max and Checo shared insights on what drives them in their respective high-pressure environments. 

Checo Pérez highlighted the importance of team support and mutual dedication, noting that understanding and appreciating the efforts of those around him keeps him motivated. Max Verstappen echoed this sentiment, emphasizing the camaraderie and collective effort within the team as key to maintaining high performance. He emphasized the personal commitment to giving 100%, recognizing the crucial support from the team that makes this possible.

The panel members also shared how they balance their professional and personal lives. Max, who has become adept at managing his hectic schedule, emphasized the importance of making the most of his time between races. "There are 24 race weekends, and in between, it's important to enjoy and explore the different cities," he shared. He also highlighted the significance of spending time catching up with family and friends. Max acknowledged that as he gets older, managing sleep and adjusting to various time zones has become more challenging, yet it's crucial for maintaining his performance.

Checo spoke about the constant public attention that comes with being a Formula One driver, describing how fans often approach him for pictures and follow his movements closely. "Our work is in the public eye," he noted, explaining the necessity of drawing a firm line between his professional and personal life. At home, Checo transitions from the celebrity on the track to a dedicated father. "I have four kids at home, and when the helmet and suit come off, I'm just a regular person who loves spending time with them," he said. This separation, according to Checo, is essential not just for personal well-being but also for being fully present and effective in both realms of his life. He emphasized the importance of giving his best whether he’s at work or at home, ensuring dedication and focus in every aspect of his life.

Ben elaborated on Bybit's core values — Listen, Care, and Improve — which guide its operations and interactions with millions of retail and institutional clients. He described as fundamental to Bybit’s business the process of engaging closely with users to understand their needs and gather feedback. The partnership with Oracle Red Bull Racing resonates deeply with Bybit's approach, as Formula One's global circuit mirrors Bybit's commitment to meet and serve clients internationally. This synergy is enhanced by the excitement and engagement that F1 stars like Max and Checo bring to events, making these interactions memorable for the clients. 

Ben also drew parallels between the constant evolution in F1 and Bybit's need to stay ahead of fast-moving market trends and regulatory changes, highlighting its around-the-clock efforts to innovate and adapt — which makes the partnership both challenging and rewarding.

Looking to the future, Ben outlined Bybit's aspiration to be the gateway to 

, acknowledging the rapidly growing industry alongside increasing crypto adoption by most countries. With Europe set to embrace crypto through regulatory frameworks like MiCA, Bybit is poised to innovate and expand its reach globally, including launching the Bybit Card to meet diverse client needs in regions like Turkey, Brazil and Argentina. The collaboration with Oracle Red Bull Racing has already yielded successful ventures, such as 

, and Bybit plans to continue implementing its plans for innovation and globalization.

This wasn’t just another discussion; it was a rare glimpse into the mindset required to excel at the apex of sports and finance. 

The day set a compelling tone for the rest of TOKEN2049, establishing the high level of expected discourse and articulating the unique intersections of interest that the event celebrates.

Bybit x Oracle Red Bull Racing x AOI: The Rise and Success of Data-Driven Art

On Sep 18, 2024, Oracle Red Bull Racing and Bybit hosted an exclusive event celebrating two decades of racing excellence, merging art, NFTs and motorsport through a unique lens. Renowned artist Martin Grasser guided attendees through a visual history of Oracle Red Bull Racing cars from 2005–2024, complemented by Singapore-inspired cocktails.

During the Bybit x Oracle Red Bull Racing x AOI livestream, key figures from Oracle Red Bull Racing and Bybit discussed the transformative integration of web3 technologies to enhance fan engagement. The highlight of the conversation was the introduction of Oracle Red Bull Racing Velocity Series 2.0, which uses racing data to create unique digital artworks, showcasing the evolving interaction between fans, art and motorsport.

This year's TOKEN2049 panels, particularly those featuring the Oracle Red Bull Racing star drivers and crypto leaders, highlighted the parallels in precision, performance and innovation that define both fields. This exploration enriched our understanding of how these industries complement each other, and set set the stage for future collaborations. 

Bybit X Block Scholes Crypto Derivatives Analytics Report (Oct 16, 2024): BTC Options Volatility Front-Runs U.S. Election

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards