Mar 17, 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 — consumer sentiment falls

US consumer sentiment has fallen to its lowest level in over two years, reflecting growing concerns about the economic impact of tariffs. According to data from the University of Michigan, the preliminary sentiment index for March 2025 dropped to 57.9 from 64.7 in February, the lowest level since November 2022. This decline was worse than expected by a Bloomberg survey of economists.

Inflation expectations surged, with consumers anticipating a 3.9% annual price increase over the next five to ten years, the highest rate over three decades. Additionally, consumers expect prices to rise by 4.9% over the next year from 4.3%, marking the steepest rise since 2022.

As US president Donald Trump’s tariff policies expand, consumers across the political spectrum increasingly worry that these extra duties will lead to higher costs. Despite recent inflation cooling, ongoing price pressures could lead households to reduce discretionary spending.

The survey also indicated a record low in consumer expectations regarding personal finances, with respondents estimating only a 48.7% chance of stock market gains in the coming year. Joanne Hsu, 

 the University of Michigan, emphasized that uncertainty surrounding economic policies complicates financial planning.

Some analysts warned that declining consumer confidence poses a significant threat to spending, as fears of an economic downturn may deter purchases of major items. Overall, the current conditions gauge and the expectations index fell to their lowest levels in several months, showcasing widespread consumer apprehension.

Weekly crypto highlight — Bitcoin see slight life in the past weekend

Bitcoin rebounded from a four-month low earlier this week alongside other risky assets recovering from recent market turmoil. Economic uncertainties driven by a wave of tariffs from President Trump and the threat of a government shutdown have led to significant sell-offs across various asset classes, including cryptocurrencies.

“As we conclude a week of widespread selling, markets are experiencing a relief rally from oversold conditions,” stated Ravi Doshi, Co-Head of Markets at FalconX. The avoidance of a US government funding shutdown has eased market uncertainty.

On Friday, Bitcoin rose by as much as 6.2%, reaching $85,301, while smaller digital assets surged even more: Solana gained over 9%, Chainlink increased by 13% and XRP rose nearly 8%. Earlier in the week, Bitcoin had dropped to around $77,000, a significant decline from its all-time high of $109,000 in January 2025.

This slump triggered record outflows from Bitcoin exchange-traded funds, and large liquidations in crypto derivatives markets. Crypto markets are bouncing back as macro-driven liquidations seem to be pausing. Analysts suggest that ongoing macroeconomic stability may support crypto prices.

Advanced

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Weekly Institutional Insights: Consumer sentiment falls as crypto recovers from 4-month low

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

The ongoing sell-off in risk-on assets has intensified bearish signals in derivatives markets for crypto assets. Funding rates indicate a demand for short exposure, futures prices are trading below spot prices and volatility smiles are showing a strong skew toward OTM puts as traders hedge against further declines. The at-the-money (ATM) volatility term structure has inverted again after a lack of clarity around Trump’s proposed strategic digital asset reserve caused short-dated volatility to fall briefly before last weekend.

Please check out the report’s highlights.

Choppy spot price movements have had an impact on funding rates, with BTC and altcoin rates reacting primarily to spot fluctuations, rather than long-term market views. ETH has sold off more sharply during declines, and hasn’t participated as strongly in relief rallies, resulting in the worst YTD performance among the five tokens in Trump’s proposed digital asset stockpile. This is reflected in funding rates, with ETH perpetual swaps showing strong demand for leveraged short exposure to further downside risk.

Investors continue to protect against further decline

Despite higher realized volatility increasing both short- and long-tenor implied volatility, options trade volumes remain low. Last Friday’s expiration of significant open interest was mostly for downside protection against a deepening sell-off. However, the options market has reverted to an inverted term structure, which had dissipated during last Friday’s White House crypto summit, with strong relative demand for short-dated put contracts.

Open interest in Solana (SOL) options declined at the end of February, with over $5M in calls and more than $3M in puts expiring and most positions not rolled over. Despite SOL trading 44% below its January ATH, most new positions are in calls. However, this new positioning is disappointingly weak, given SOL's inclusion in Trump’s crypto reserve announcement alongside BTC, ETH, XRP and ADA.

Beginner

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Bybit X Block Scholes crypto derivatives analytics report (Mar 14, 2025): Investors hedge further declines

BinaryX has rebranded to Four, uniting GameFi, IGOs, and MemeFi under one ecosystem. With BNX now FORM, Four continues to innovate in blockchain gaming."

Having launched in May 2021, BinaryX, which started out as a 

 (DeFi) platform, has continued to evolve and adapt to the rapidly changing blockchain landscape. However, in the spirit of adaptability and innovation, the platform switched to 

, focusing its attention on play-to-earn (P2E) games.

As a GameFi platform, BinaryX has also created an 

 (IGO) launchpad from which developers can launch GameFi projects.

Now, BinaryX has rebranded to Four in order to align with the mission of its 

 product, a launch platform for the meme coin ecosystem.

Let's learn more about BinaryX and the way it continues to shape the crypto market with innovative products and adaptable business models.

 hub for the development of GameFi projects, includes an IGO launchpad to facilitate developers in launching games. 

BinaryX began in 2021 as a decentralized derivative trading system that featured the use of 

. But in 2022, the BinaryX team gradually evolved its project into a GameFi platform in order to adapt to the increased demand for P2E games. Its aim is to make web3 games more accessible and approachable to the vast community of gamers.

BinaryX also developed an IGO launchpad to serve as a comprehensive hub for gaming developers to launch their GameFi projects, and for investors to receive early access to promising new play-to-earn games. Furthermore, the BinaryX team announced the incorporation of a 

 (DAO) into its GameFi ecosystem so that its community of token holders could participate in voting on governance matters.

In February 2025, BinaryX rebranded to Four in order to align with its latest product, Four.meme, which was launched in July 2024. Following the rebrand, its native token, BNX, would now become FORM to reflect the project's commitment to innovation and adaptability.

As one of the top web3 platforms on BNB Chain, BinaryX has continued to innovate and experiment with different business models to adapt to the blockchain landscape's fast-paced nature. To this end, BinaryX has the following diverse products under its wing.

BinaryX launched its Initial Game Offering (IGO) launchpad in May 2022 as a dedicated platform to support blockchain gaming projects. The launchpad helps game developers secure funding for decentralized video games. They also get a platform on which to build communities and accelerate their web3 game development.

By leveraging BinaryX’s expertise in GameFi and its existing user base, projects gain exposure to a vast community of crypto gamers. The platform offers early access to promising blockchain games, allowing investors to participate in token sales and 

 presales. BNX holders can use their tokens to vote for games' listings on the BinaryX platform, and they also receive rewards, such as game tokens and NFT 

Some notable games launched on the BinaryX IGO launchpad include 

. These games showcase BinaryX’s commitment to innovation in GameFi, integrating play-to-earn mechanics, NFTs and decentralized governance to help create immersive gaming ecosystems.

BinaryX's GameFi trading platform is a marketplace designed for seamlessly trading blockchain gaming assets, including NFTs, in-game tokens and virtual items. Launched to support the growing GameFi ecosystem, the platform enables gamers and investors to buy, sell, trade and auction assets from BinaryX-powered games in a secure and efficient manner.

 and DeFi principles, BinaryX ensures transparent transactions with minimal fees, and enhances liquidity for in-game assets while empowering players to maximize their earnings.

The BinaryX GameFi trading platform supports transactions involving 

In January 2022, BinaryX launched the BinaryX DAO, a first for a GameFi project, through which BNX token holders can participate in the project's community governance, determine airdrop and dividend ratios, and submit proposals on how to improve the BinaryX ecosystem.

Case in point: BinaryX's community participated in voting for/against the platform's rebranding to Four during a community vote that was held from Sep 21–23, 2024.

The BinaryX Treasury serves as the financial backbone of the BinaryX ecosystem, supporting the development and sustainability of its GameFi projects. Some sources of assets used to fund the treasury include initial capital injection by the BNX team, income from gaming activities, income from the IGO launchpad and profit from external investment.

Profits in the BinaryX Treasury are used to reward BNX stakers, incentivize BinaryX sidechain node providers and finance strategic investments in third-party projects.

BNX is the native token for the BinaryX platform. Its original maximum supply of 2.1 billion tokens was adjusted to 580 million after a community vote in late July 2024.

Distribution of the 580 million BNX tokens is as follows:

Following BinaryX's rebranding to Four, BNX will change to FORM, and holders will be allowed to exchange to the new token at a ratio of 1:1 (details to follow at a later date).

BinaryX has integrated a multi-token model. Apart from BNX, the other two tokens associated with the platform are as follows:

BinaryX officially rebranded to Four on Feb 21, 2025, following an overwhelming vote via its DAO, marking a significant transformation in its vision for GameFi and DeFi innovation. This shift comes with a revamped website, which will serve as a hub for the GameFi platform, IGO launchpad and Four.meme, a new addition to Four’s expanding ecosystem.

Following the rebranding, a 1:1 token migration from BNX to FORM is necessary in order to enhance the token's identity and align with the project's new direction. FORM remains on the BNB Chain, ensuring smooth compatibility with existing infrastructure.

 (CEXs) won’t need to do anything — the token swap to FORM will take place automatically. BinaryX will liaise with these exchanges to switch from the BNX contract address to the one for FORM.

 (DEXs), cold wallets and self-custody wallets will need to carry out a manual token swap based on a converter provided by BinaryX. To carry out this token swap, you’ll need to do the following:

 landing page (link will be provided at a later date).

4. Sign to authenticate your transaction to receive the FORM tokens.

5. Add the new FORM contract address into your wallet to see the new tokens.

You can buy BNX as a USDT Perpetual contract (

) on the Bybit trading platform. However, the BNXUSDT contract will be delisted on Mar 17, 2025, 9AM UTC, so make sure to close your open positions and cancel your active orders for BNXUSDT as soon as possible.

Over the years, BinaryX has consistently demonstrated strong performance. The rebranding of BinaryX to Four marks a bold step forward in its mission to impact the web3 space. This transformation reflects the project’s commitment to expanding its ecosystem, enhancing token identity and integrating innovative elements, such as Four.meme, alongside its GameFi platform and IGO launchpad.

By adapting to the evolving crypto landscape, Four is positioning itself as a comprehensive hub for web3 and gaming enthusiasts so that it can offer a seamless experience for gamers, investors and meme culture participants. The introduction of the FORM token ensures a more cohesive and recognizable branding, reinforcing Four’s long-term vision. Thanks to the smooth migration process from BNX to FORM, users can continue participating in the ecosystem while benefiting from enhanced liquidity and utility.

Four remains dedicated to GameFi innovation, supporting successful blockchain games such as 

, all of which feature play-to-earn mechanics, NFTs and decentralized governance. The revamped platform is designed to foster a dynamic gaming economy, support new game launches and provide a secure environment for trading digital assets. With its rebranding and expanded offerings, Four is set to lead the next wave of blockchain gaming and DeFi innovation, uniting gamers, developers and investors in a vibrant web3 ecosystem.

Intermediate

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From BinaryX to Four: A unified hub for GameFi, IGOs and MemeFi

Learn about the benefits of using Bybit Pay and the step-by-step instructions to get started with Bybit Pay now.

Traditional financial systems and blockchain-based ecosystems have long operated in silos, creating friction for users and businesses alike. 

 is a new payment solution that’s been designed from the ground up to solve this issue to make cryptocurrency transactions seamless for any users.

With the aim of mainstreaming crypto payment options, Bybit Pay has already begun partnering with traditional payment solution providers, enabling users to transact with cryptocurrencies through existing infrastructure. For example, with its recent 

, Brazilian users can now shop by using cryptocurrencies in a quick and effortless manner. 

In this article, we’ll explain the benefits of using Bybit Pay and provide step-by-step instructions for new users who want to get started with the platform.

With more than 60 million users on the Bybit platform, Bybit Pay empowers merchants with access to the global network of its vast user base. Meanwhile, users benefit from a seamless integration with web3 wallets that makes paying with crypto as easy as paying with fiat currency. The platform also offers collateralized payment tools that allow users to borrow against their NFT and crypto holdings. 

Through these innovative features, Bybit Pay blends the ease of traditional finance with the flexibility of cryptocurrencies, creating an ecosystem that benefits both users and merchants.

Bybit Pay can be accessed using the Bybit App on mobile and desktop. 

While filling in the form, make sure that the information you enter matches the information you’ve already provided during 

: As of now, only verified users in Brazil can make transactions using a Pix QR code.

Since the Pix integration, Brazilian users can use Bybit Pay wherever Pix is accepted. This opens up a vast network of offline establishments in the country, since Pix is Brazil’s leading instant payment system provider. 

In addition to offline establishments, Bybit Pay can also be used with a number of e-commerce providers for online shopping using cryptocurrencies. Bybit Pay will be available to users from other regions soon.

With the launch of Bybit Pay, Bybit is integrating crypto payments with traditional payment services providers — and vastly expanding the number of places where cryptocurrencies can be used.

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How to use Bybit Pay for effortless payments

Crypto

Explainers

MetaMask acts as a "bridge" to everything the Ethereum network has to offer. In this article, we explain what it is and how to use it.

Imagine the power to manage your digital assets, trade tokens, and interact with 

 wallet, offers all these capabilities, making it a must-have tool for both crypto newbies and experts alike. But what is MetaMask exactly? Buckle up as we take you on a journey through the world of MetaMask, exploring its features, setup process, and integration with dApps, as well as enhancing its security with hardware wallets.

In this comprehensive guide, you’ll learn how to unlock the full potential of MetaMask and take advantage of its user-friendly interface. Whether you’re looking to trade tokens on 

 platforms, or explore the vast universe of 

MetaMask is a widely-used Ethereum wallet that enables users to securely store, trade, and manage 

 tokens, as well as interact with decentralized applications (dApps) on the Ethereum 

. Its popularity stems from its browser integration and user-friendly design, making it an ideal choice for those new to the world of cryptocurrency. MetaMask combines the functionalities of a token wallet, key vault, and login system into one seamless interface.

Whether you’re a casual user or a seasoned trader, the popular cryptocurrency wallet, MetaMask crypto wallet, is designed to make managing your assets a breeze. For instance, MetaMask Mobile, a smartphone app, replicates the features of a browser based ethereum wallet, giving you the convenience of a convenient wallet for managing your digital assets and interacting with dApps on-the-go.

MetaMask Institutional offers a secure digital wallet solution for institutions and large organizations, rendering a physical wallet unnecessary.

The MetaMask wallet packs an impressive array of features, making it a one-stop-shop for managing various crypto assets. It supports ERC-20 tokens and NFTs, allowing users to store, trade, and interact with these digital assets securely. However, it’s worth noting that MetaMask does not currently support Bitcoin transactions or offer live customer support.

The seamless browser integration stands out as one of MetaMask’s key features. By adding the MetaMask extension to your browser, you can easily access your wallet and interact with dApps directly from your browser, without the need to switch between multiple applications. This browser-based approach sets MetaMask apart from other wallets and makes it a convenient choice for users looking to manage their digital assets with ease.

The MetaMask browser extension acts as a gateway between your browser and the Ethereum blockchain, allowing you to manage your Ethereum private keys and interact with the Ethereum network without ever leaving your browser. Compatible with popular browsers like Google Chrome, Firefox, Brave, and Edge, the MetaMask extension offers a user-friendly interface that makes it easy for users to manage their digital assets and engage with dApps.

When connecting with dApps, the MetaMask extension provides an interface that facilitates seamless interaction between your browser and the Ethereum-based applications. This means you can:

It’s this level of ease and convenience that has made MetaMask a go-to choice for many cryptocurrency users.

You can set up a MetaMask wallet in a straightforward process:

After you’ve set up your wallet and verified your seed phrase, you’re ready to start using MetaMask to initiate transactions. You can:

All within the MetaMask interface. With its user-friendly design and robust security features, MetaMask makes managing your digital assets a breeze.

MetaMask is compatible with multiple browsers and operating systems, including:

Detailed step-by-step guides are also available on the MetaMask support website and other sources to assist you in the download and installation process.

Creating a new wallet in MetaMask involves choosing a robust password and securely storing your 12-word backup phrase. This seed phrase is crucial for wallet recovery, as if you lose access to it, you may face the irreversible loss of your wallet and its associated assets.

MetaMask emphasizes the importance of security in managing your digital assets. By integrating robust password protection and secure seed phrase storage, your MetaMask wallet will help ensure that your assets remain safe from unauthorized access and potential security threats.

MetaMask’s interface simplifies managing your digital assets, including smart contracts. With features like multiple wallet addresses, token balance display, and direct token swaps within the wallet, MetaMask offers a comprehensive solution for managing your assets on the Ethereum blockchain.

Whether you’re a newcomer to the world of cryptocurrency or an experienced trader, MetaMask’s user-friendly interface ensures that managing your assets is a seamless process. From viewing your transaction history to swapping tokens, MetaMask makes navigating the world of decentralized finance a breeze.

MetaMask offers user-friendly metamask account management that allows users to store and easily create new wallet addresses, import existing wallets, and view their transaction history within the interface. This level of control helps you keep track of your assets and stay organized while using MetaMask.

In addition to managing your wallet addresses, MetaMask also provides a convenient way to view your token balances and engage with the wider Ethereum ecosystem. With its intuitive interface, MetaMask makes account management a hassle-free experience for users of all experience levels.

MetaMask’s token swap functionality stands out as one of its key features. MetaMask enables token swaps by aggregating data from various decentralized exchanges (DEXs) and market makers, providing users with competitive pricing and simplified transactions. This ensures that users get the best price possible while minimizing network fees.

To execute a token swap in MetaMask, simply follow these steps:

With MetaMask’s token swap feature, also known as MetaMask Swaps, you can easily trade tokens and manage your assets with ease.

Integrating MetaMask with Decentralized Applications

The ability of MetaMask to integrate with a variety of decentralized applications (dApps) expands the possibilities for its users. By connecting MetaMask to dApps, you can access a wide range of blockchain-based services, including DeFi platforms, games, and NFT marketplaces. This versatility makes MetaMask a powerful tool for exploring the ever-expanding world of decentralized finance and applications.

Whether you’re looking to trade tokens on Uniswap, purchase NFTs on OpenSea, or explore the latest dApps, MetaMask provides a seamless and convenient way to interact with the Ethereum ecosystem. With MetaMask, the possibilities are endless.

The process of connecting MetaMask to dApps is simple and straightforward. Typically, you’ll be prompted to approve a connection request from the dApp, granting it access to your wallet address. Once connected, you can securely interact with the dApp and access its various features and services.

In addition to its ease of use, MetaMask also supports a variety of platforms, including popular dApps like Uniswap, OpenSea, and QuickSwap. With MetaMask, you can effortlessly connect to these platforms and begin exploring the world of decentralized applications.

MetaMask enjoys wide-ranging compatibility, including with popular dApps like Uniswap, OpenSea, and QuickSwap. Its compatibility with these platforms allows users to access a variety of services and engage with the Ethereum ecosystem in a seamless and convenient manner.

In addition to its support for various dApps, MetaMask is also compatible with multiple browsers and operating systems, which ensures that users can access their wallets and interact with dApps regardless of their device or browser preferences. With MetaMask, you can confidently explore the world of decentralized applications and platforms.

Enhancing MetaMask Security with Hardware Wallets

Although MetaMask is a secure solution for managing digital assets, integrating it with a hardware wallet can elevate your security measures. Hardware wallets like Trezor and Ledger provide an additional layer of security, ensuring that your private keys are stored securely offline, greatly reducing the risk of asset loss due to hacking or phishing attacks.

By integrating your hardware wallet with MetaMask, you can enjoy the convenience of the MetaMask interface while benefiting from the added security of a hardware wallet. This combination of security and convenience makes MetaMask an ideal choice for managing your digital assets.

The simple process of integrating a hardware wallet with MetaMask lets you manage your assets securely on the hardware wallet while enjoying the convenience of the MetaMask interface. MetaMask is compatible with both Ledger and Trezor hardware wallets, ensuring that users have a choice when it comes to selecting a hardware wallet that best suits their needs.

To integrate your hardware wallet with MetaMask, simply follow the instructions provided by your hardware wallet manufacturer and connect your device to MetaMask. Once connected, you can manage your assets on the hardware wallet, sign transactions, and interact with dApps, all from within the MetaMask interface.

Pairing a hardware wallet with MetaMask provides notable security benefits compared to using MetaMask independently. Here are some of the benefits:

By integrating your hardware wallet with MetaMask, you can enjoy the convenience and flexibility of the MetaMask interface while benefiting from the enhanced security of a hardware wallet. In an age when cyber threats are becoming increasingly prevalent, using a hardware wallet with MetaMask is a smart choice for safeguarding your digital assets.

MetaMask provides a range of support resources, such as a self-help center, community message board, and email support, to help users troubleshoot and resolve issues. Whether you’re experiencing transaction failures, incorrect token balances, or connectivity issues with dApps, MetaMask’s support resources are designed to help you find solutions and get back on track.

In addition to the self-help resources available on their website, MetaMask also offers a community forum where users can share their experiences, ask questions, and seek assistance from fellow users. With its robust support system, MetaMask ensures that users have access to the help they need, when they need it.

MetaMask users may commonly encounter issues like transaction failures, incorrect token balances, and dApp connectivity issues. These issues can often be resolved by restarting the browser, updating the browser, or switching to a different blockchain network. In some cases, you may need to consult the specific documentation or support channels of the dApp in question for known compatibility issues with MetaMask.

While MetaMask strives to provide a seamless user experience, occasional issues may arise. By accessing MetaMask’s support resources and troubleshooting guides, you can find solutions to common problems and continue using MetaMask with confidence.

The MetaMask website provides a plethora of resources and contact options for users to access support, resolve issues, and get answers to questions. The MetaMask Help Center provides comprehensive user guides, advanced troubleshooting techniques, and resources for addressing common error codes. Additionally, the MetaMask Community Forum offers a platform for users to share solutions and experiences, ask questions, and seek help from fellow users.

Whether you’re experiencing technical difficulties, have questions about using MetaMask, or simply need guidance, MetaMask’s support resources are designed to help you find the answers you need. By accessing these resources, you can ensure that your MetaMask experience remains smooth and trouble-free.

Throughout this comprehensive guide, we’ve explored the many features and benefits of MetaMask, including its user-friendly interface, versatile functionality, and integration with decentralized applications. By setting up a MetaMask wallet, you can unlock the full potential of the Ethereum ecosystem and engage with a vast universe of dApps, DeFi platforms, and NFT marketplaces.

As you venture into the world of decentralized finance and applications, MetaMask serves as a powerful and convenient tool to help you manage your digital assets and interact with the Ethereum blockchain. Whether you’re a seasoned trader or a newcomer to the world of cryptocurrency, MetaMask is an essential tool for navigating the ever-evolving landscape of decentralized finance. #Bybit #CryptoArk

MetaMask is a free wallet used for trading and managing cryptographic assets, broadcasting transactions, sending and receiving Ethereum-based cryptocurrencies and tokens, and securely connecting to decentralized applications. It is one of the most widely used crypto applications, providing users with a secure way to store and swap cryptocurrencies.

MetaMask is a reliable and secure wallet with advanced security features, encryption, and protection from phishing attacks, providing a safe environment for managing your digital assets.

MetaMask has fees associated with transactions, no 24/7 customer support and needs to be manually set up to use multiple networks, with no support for Bitcoin. This can be a disadvantage for those who wish to use additional networks or store other cryptocurrencies.

To withdraw money from MetaMask, open the app, select “Actions” and tap the “Send” button. Then choose which cryptocurrency you want to withdraw and specify the amount before entering the receiving address and confirming the withdrawal.

Yes, MetaMask is a trusted and safe cryptocurrency wallet for the Ethereum blockchain. With over 30 million users around the world, MetaMask is an established and reliable way to store crypto assets.

What is MetaMask? Your Essential Guide to the Ethereum Wallet

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards