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.

Macro headwinds are impacting the crypto market, with a sell-off that began over the weekend deepening this week. BTC, ETH and most altcoins are declining alongside equities, gold and treasury yields, though derivatives markets are showing little bearish sentiment or increased volatility expectations. Among perpetuals, there are record consistent positive rates across most markets, indicating a reset in positioning. Meanwhile, ETH retains a volatility premium over BTC, but its term structure hasn’t inverted as sharply as in earlier sell-offs this month.

Please check out the report’s highlights.

Funding Rates Largely Positive Amid Sell-Off

Despite risk-off sentiment across asset classes this weekend and early this past week, USDT-denominated perpetual contracts have shown their most consistently positive funding rates within the past month. While these rates haven't reached the bullish levels of early December 2024, most have returned to a neutral level of 0.01%, signaling a reset in positioning due to recent market movements.

Tuesday's intensified risk-off sell-off led to a significant spike in BTC put trade volume as traders hedged against further declines. Unlike ETH, which leans bullish on calls, BTC's open interest is balanced between upside and downside protection. The volatility term structure is flat again, typical during sharp market moves, but this reflects a decline in longer-dated options, rather than a rise in short-term expectations.

As the sell-off in risk-on assets deepened this past week, ETH outperformed BTC. ETH derivatives markets are showing stronger sentiment, with higher call trade volumes indicating greater demand for upside positioning as compared to puts. However, ETH's volatility term structure has inverted more sharply than BTC's, as seen in previous significant market moves since last November (2024), with front-end volatility levels 15 points above those of BTC options with a similar tenor.

Advanced

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Feb 26, 2025): Reset in Sentiment Brewing as Fund Rates Turn Positive

Explore four essential tips to help you accumulate more points, optimize your strategy and claim the best rewards in EcoGalaxy: Mantle Surge.

With the rise of gamified crypto events, EcoGalaxy: Mantle Surge stands out as one of the most exciting opportunities for users to earn rewards while engaging with both Bybit and Mantle Network. This limited-time event offers participants a shot at a 1,000,000 MNT prize pool when they complete on-chain and trading-related tasks. 

To help you maximize your rewards and ensure you get the most out of this event, in this guide we’ll break down four essential tips to help you accumulate more points, optimize your strategy and claim the best rewards in EcoGalaxy: Mantle Surge.

EcoGalaxy: Mantle Surge is a limited-time campaign that rewards participants with a share of a 1,000,000 MNT prize pool when they complete both Bybit and on-chain tasks. Players earn "wishes" that can be used to enter Lucky Draws or climb the leaderboard for greater rewards.

This campaign, hosted by Bybit in collaboration with Mantle, blends gamification with 

 engagement, offering users multiple ways to win. Participants can choose to rely on chance via the Lucky Draw or strategically allocate their wishes to compete on the leaderboard. The event runs from Mar 6, 2025 to Mar 27, 2025, making it a limited-time opportunity to accumulate rewards while exploring the Mantle ecosystem.

4 Tips to Maximize Your Wishes and Rewards in EcoGalaxy: Mantle Surge

To make the most out of EcoGalaxy: Mantle Surge, you need to strategize your wish allocation, complete as many tasks as possible and take advantage of all available earning mechanisms. Here are four essential tips to maximize your rewards:

One of the best ways to earn high-value rewards in EcoGalaxy: Mantle Surge is by competing on the leaderboard. There are a total of five rounds, and the rewards are higher with each passing round. 

The more wishes you allocate toward leaderboard rankings, the higher your position and the larger your rewards. However, since the leaderboard is dynamic, your rank can change based on the activity of other participants.

Since leaderboard positions fluctuate, it’s recommended that you monitor your ranking regularly and adjust your strategy accordingly. Players who accumulate the most wishes by the end of each leaderboard round will receive the greatest rewards.

 that each round’s rewards and wishes are calculated independently, and any wishes spent in a round won’t carry over to the next round.

If you prefer an element of surprise, the Lucky Draw is your best bet. By spending wishes on Lucky Draw attempts, you earn the chance to win instant prizes. The Lucky Draw operates on a first-come, first-served basis, so the earlier you participate, the better your chances of securing top-tier rewards.

Since rewards are limited, it's advisable to use your wishes early before the top prizes run out.

An easy way to earn free points in this campaign is by holding Mantle (MNT) and/or Mantle Restaked ETH (cmETH) in your Bybit account. By simply keeping these assets in your wallet, you’ll receive additional wishes, increasing your chances of winning more rewards.

This passive method of earning wishes ensures that you accumulate extra points without actively completing tasks, making it one of the simplest ways to boost your rewards.

Another hidden gem for doubling your rewards in EcoGalaxy: Mantle Surge is through Layer 3. Participants who complete specific Layer 3 quests will receive extra bonuses, including double rewards on certain tasks.

By leveraging Layer 3 bonuses, you can significantly boost your total wish count, increasing your chances of securing leaderboard positions or hitting big wins in the Lucky Draw.

If you’re looking for a fun and rewarding way to engage with the Mantle ecosystem, EcoGalaxy: Mantle Surge is definitely an event worth joining. With 1,000,000 MNT up for grabs, both casual users and seasoned traders can benefit from this campaign.

The event's dual-reward system allows participants to tailor their strategy based on their preferences. Whether you enjoy the thrill of luck-based rewards or prefer the competitive edge of leaderboard climbing, this campaign offers something for everyone.

Additionally, holding MNT and cmETH provides passive earnings, while Layer 3 integration presents an opportunity for double rewards — making the experience even more lucrative for active participants.

EcoGalaxy: Mantle Surge is a limited-time, gamified rewards campaign that blends trading, staking and on-chain interactions. By completing tasks, holding Mantle assets and strategically using your wishes, you can maximize your rewards and secure your share of the 1,000,000 MNT prize pool.

This event runs from Mar 6, 2025 to 27, 2025, so now is the best time to get started. Are you ready to explore the Mantle ecosystem and claim your rewards? Join EcoGalaxy: Mantle Surge today!

Beginner

how to participate in ecogalaxy mantle surge

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Join Bybit’s AI-DOL SUPERSTAR Trading Battle, vote for top AI projects and compete for a share of a $1M prize pool. Earn rewards while shaping the future of AI in crypto.

The Bybit AI-DOL SUPERSTAR Trading Battle is an exciting and innovative trading and voting event that aims to identify and support high-potential AI projects within the cryptocurrency space.

As artificial intelligence (AI) continues to revolutionize blockchain technology, this competition offers users a unique opportunity to engage with emerging AI-driven crypto projects while earning substantial rewards of up to $1 million.

 (AI) and cryptocurrency is reshaping blockchain and 

 — autonomous programs powered by machine learning — are revolutionizing the sector by automating trading strategies, optimizing portfolio management and executing on-chain decisions with minimal human input.

These intelligent agents analyze vast datasets, identify market trends and execute trades in real time, significantly enhancing efficiency and reducing risks in the volatile crypto market. Their role extends beyond trading, influencing DeFi protocols, NFT markets and blockchain governance.

Bybit is at the forefront of this AI-driven transformation, launching the 

 to spotlight high-potential AI projects. This event provides a launchpad for groundbreaking AI applications, connecting innovators with a global crypto audience.

What Is the Bybit AI-DOL SUPERSTAR Trading Battle?

Bybit is launching a unique AI trading event designed to highlight the most promising AI-driven crypto projects.

AI is revolutionizing crypto markets, with automated trading bots now executing over 60% of all crypto transactions. The integration of AI and blockchain is unlocking new trading strategies, DeFi innovations and web3 applications, making the AI sector one of the most promising in crypto.

Bybit’s AI-DOL SUPERSTAR Trading Battle bridges AI and blockchain, providing a global stage for emerging projects to gain exposure to a global audience. Participants play an active role in shaping the future of AI in crypto while earning rewards.

How to Participate in the AI-DOL SUPERSTAR Trading Battle

Campaign Period: Feb 28, 2025, 10AM UTC – Mar 27, 2025, 10AM UTC

Bybit users can support AI projects and earn rewards by participating in this AI-powered trading competition. Here's a step-by-step guide to joining:

Projects earn voting points from the following ways:

By actively trading and voting, participants not only have a chance to earn from the $1 million prize pool, but will also play a crucial role in shaping the future of AI in the crypto industry.

Bybit's AI-DOL SUPERSTAR Trading Battle offers an exciting $1 million prize pool, with multiple ways for participants to win rewards.

The breakdown of how votes are allocated for Bybit Spot is as follows:

The breakdown of how votes are allocated for Bybit Web3 is as follows:

The maximum number of daily votes that a user can receive is 100,400 (50,200 for Bybit Spot and Web3 respectively).

By trading, voting and engaging in the competition, participants not only support innovative AI projects but also receive a chance to maximize their earnings in this high-stakes trading battle.

Bybit's AI-DOL SUPERSTAR Trading Battle offers a distinctive platform that connects cryptocurrency traders with AI innovators. Participants are invited to support leading AI projects, earn attractive rewards and contribute to shaping the future of AI within the crypto ecosystem. 

 and be part of the AI-driven revolution on Bybit!

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How to Participate in Bybit’s AI-DOL SUPERSTAR Trading Battle

TrendX is a web3 platform that hopes to provide crypto investors with one-click trading and investment solutions. Learn more here.

While cryptocurrency markets offer many fantastic investment opportunities, it can be hard to find the right option to invest in. TrendX hopes to make things much easier for investors. This project plans on using artificial intelligence (AI) analytics to find cryptos with a high chance of profitability. Here are some things to know before you start working with TrendX.

 platform that hopes to provide crypto investors with one-click trading and investment solutions. It uses AI and data processing analytics to assess and highlight promising investment opportunities. The TrendX platform also includes a variety of borrowing, lending and trading services.

TrendX began in 2022 as veDAO, a community-led system whose main focus was funding web3 projects through decentralized investing. Users could pool funds and vote to provide these funds to promising startups and cryptos. Over time, the evolving technology of the system became particularly adept at locating exciting investment opportunities. 

. This new name is meant to highlight the trend-tracking capabilities of the system, and to showcase the individual investment opportunities available through TrendX. The rebrand also coincided with the release of a native cryptocurrency for the TrendX system. 

TrendX believes it can remove some of the guesswork from investing while still providing users with new and exciting opportunities. The platform hopes to make investors' efforts easier and more profitable by using technology to highlight promising projects. 

TrendX's other primary goal is to decentralize and diversify the field of AI investing. Most AI crypto investment projects tend to be centralized systems, in which one company controls all the processing and lending power. TrendX's distributed computing makes the entire process more accessible. The company hopes it can put power in the hands of everyday users, so one centralized system isn’t dictating what people are purchasing.

Underneath the software that provides a simple and intuitive interface for its website, TrendX relies on a proprietary distributed computing network called 

. With Owlbot, every computer or phone that runs TrendX becomes a source of computational power. Users agree to lend their idle processing bandwidth to TrendX, and the community’s collective power is used to propel an AI system that collects investing data from an international pool of markets, processes the data and makes investment recommendations. 

 stores and protects each sensitive user connection and data collection point, so users can be confident that working with TrendX won’t leave them vulnerable to hackers or scams. Furthermore, the website uses some standard software tools, such as “verification successful” waiting and 

, to help its interface run as smoothly and securely as possible.

TrendX's shared computing connections and AI processing can be used for all sorts of 

 (DeFi) services. Following are the key features that the ecosystem offers.

Web3AI is TrendX's main trend-tracking system. It checks up repeatedly on tens of thousands of projects and crypto influencers, and looks at daily sentiment, social media activity and pricing trends to find the most promising projects to invest in. After performing due diligence, the system provides helpful metrics on various parameters, such as public opinion, number of fans and venture capitalist funding.

The KOL Square feature tracks key opinion leaders within the web3 space. By monitoring sentiment from major thought leaders, it allows users to see which cryptos are gaining in popularity. The feature includes helpful operational efficiency filters that let you select specific tags and projects for more details. 

For those who want to improve their cash flow without spending a lot of time tinkering with tools, TrendX offers Alpha Square, a service that starts with the same analytics as other features but then creates refined market strategies. These strategies are carefully market-tested before being offered to users. So far, they’ve been proven to provide 

Smart Money is a security-prioritizing version of trend tracking. It uses safety checks to help protect users from 

. The Smart Money system also closely analyzes parameters such as the number of wallets holding specific amounts of project tokens, so users can receive early warning when trends begin to shift. 

Web3 Project Search is all about exploring projects based on your connection with them. This investment research tool encourages users to filter and sort based on details such as sentiment indicators, project type and associations with specific influencers. The Project Search tool tracks over 22,000 different projects, making it easy to find an option that suits your unique parameters. 

This VIP service offers additional features to users who are willing to pay for extended access to the platform's AI services. Users who hold and stake TTA (more on this native token below) receive more real-time tracking, and wait shorter times for “verification successful.” Users with even greater privileges also get personalized recommendations and more access to project details. 

This built-in blockchain technology makes it easier to safely handle transactions and data for people within the TrendX ecosystem. It stores information for AI modeling training, and the decentralized system also ensures security for private user details, such as Ray ID.

In the few years since its founding, TrendX has developed many exciting technologies and attracted a robust community. Its recent rebrand and token launch have also helped its platform to grow and improve its cash flow. The next project that TrendX hopes to tackle is that of extending its technology to include additional features, such as improved security and enhanced trading features. 

, TrendX will be releasing a high-speed aggregated DEX with which users can buy and sell crypto. It also plans on exploring ways to take advantage of 

 and improved memory storage. By the fall of 2025, TrendX hopes to have an 

 fully tailored to offer individualized web3 investment advice. 

TrendX's cryptocurrency is more than just a simple investment opportunity released to attract funding. Instead, it features a complex 

 that’s deeply integrated into the platform's everyday functioning. 

Here's what you need to know about the TrendX dual token system.

. It’s used to manage application programming interfaces (APIs) and ad spaces, and to process fees. Users pay in TTA to cover transaction fees when swapping tokens, and when subscribing to premier investment strategies.

XTTA is the computing power token on the TrendX platform. When people provide their computing power to TrendX, they receive XTTA as a reward. XTTA can be mined through the Owlbot computing power system, or purchased directly to upgrade a user's chosen part of the Owlbot AI processing system without requiring them to give up computer processing power. 

As it launches its dual token system in 2025, TrendX is working hard to reward its community and promote its tokens. 

 have rewarded users for participating in the DAO to get more tokens. Now, in 2025, the main TrendX airdrop is about giving individual users tokens in exchange for social media activity, with 

 for it. Users can increase their portion of TTA by following TrendX on X or reposting TrendX posts. 

 and connecting your wallet to the airdrop. 

As the main token for paying fees on the TrendX network, TTA is an essential part of running the entire TrendX system. With a total supply of 1 billion tokens, it’s built on the Ethereum 

 scaling system, Basechain. These tokens are distributed according to the following schedule:

Though TTA tokens are just starting to hit pre-market listings, there’s already quite a bit of interest in them. Some predictions for TTA prices have focused on XTTA’s price. However, keep in mind that while XTTA is selling for $0.25, it does have a much 

 than TTA. Taking into account the fact that XTTA has about half the tokens that TTA does, it's possible that TTA may debut at around $0.10. 

Another useful metric to look at when considering TTA’s price is the crypto market as a whole. Usually, pricing patterns for new coins start with a brief jump, and prices then start to stabilize according to current market trends. Many crypto investors 

, with some quick increases in prices for summer 2025. If this occurs, TTA prices may look quite promising.

The TTA token is an intriguing option for investors. There’s been a lot of interest in the TrendX system, and so far, the company has been doing its due diligence to support and market the TTA token. This backing by a reputable company indicates that its token could perform well in open markets.

However, TrendX's dual token system could lead to some confusion. It's possible investors might only rally behind one coin, or that TTA and XTTA token prices could be tied a little too closely together. Therefore, investors need to retain some caution when working with this new token launch. Remember to account for market volatility, and don’t invest money you can’t afford to lose in TTA or any other crypto.

While TrendX began as a simple investing DAO, over time its impressive technology has helped it win over a larger audience. People looking for high levels of security, profitability and convenience may find that TrendX works well for their investment needs. 

Even if you aren't interested in AI and operational efficiency, check out TrendX's TTA and XTTA tokens. As the project expands, its cryptocurrencies may offer some exciting price growth.

Intermediate

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TrendX (TTA): Identifying Investment Opportunities With AI-Powered Analytics

Bybit Learn

Bybit Guide

Learn how to download Bybit App easily without hassle. A step-by-step guide is provided.

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Need to know how to download the Bybit App on iOS and Android devices? We’ve got you covered. Follow our quick and simple steps to install the Bybit App from the Google Play Store, Apple App Store or via APK download. Keep reading for the efficient setup and initial configuration to jump-start your cryptocurrency trading.

Downloading the Bybit App for Android Devices

Android users will be pleased to know that if you’re having trouble accessing the Bybit App via the normal app downloading method it’s easily accessible through the Google Play Store or via an alternative method (APK files). 

Search for the Bybit App in the Google Play Store

To embark on your Bybit journey, start by opening the Google Play Store on your Android device. Simply follow the steps below to complete the process:

Downloading the APK File From Bybit Official 

For those who can’t access the Google Play Store, there’s still a way to get the Bybit App on your Android device. You can download the Bybit APK file from a reliable source. Remember, you’ll need to enable the 

 option in your device settings to install the app from outside the Google Play Store.

Installing the Bybit App on Android Devices

Once you’ve downloaded the Bybit APK file, you can initiate the installation process, which will allow you to download the Bybit App as follows:

After successful installation, the Bybit App will be ready for you to use. 

Downloading the Bybit App for iOS Devices

You can find the Bybit App in the Apple App Store — or if you’re keen on trying out new features before the new version of the Bybit App is officially released, you can join the Bybit Beta Program through TestFlight.

Searching for the Bybit App in the App Store

To locate the Bybit App on your iOS device, follow the steps below:

: Please ensure that you’re signed in with your Apple ID to access and download apps from the App Store.

Whether you’re a seasoned trader or a newbie in the cryptocurrency world, the Bybit App offers a user-friendly experience, starting from account registration, interface navigation and customization of language and currency preferences — all at your fingertips.

You can sign up using your email address or phone number. Remember, each email address or phone number can only be associated with one Bybit account. However, if you’re an existing Bybit user, simply log in with your registered email address or phone number.

Here’s a simplified method to get started with Bybit:

 and register with your email address or phone number.

 on your Bybit account to unlock fiat deposits, increase withdrawal limits and participate in Bybit's highly anticipated events, such as Launchpad and/or Bybit Earn products. This verification process typically takes a few minutes to complete, which includes verifying your basic account information, providing ID documentation and uploading a selfie.

Completing Identity Verification entitles you to all of Bybit’s products and services. In the case of lost credentials, an identity-verified account provides a simpler process to help you recover your account.

If you already hold crypto in another wallet, you can 

 it into your Bybit Account. Please refer to 

 for more information on how to deposit into your Bybit account. 

If you don’t have any crypto in another wallet, please refer to Step 4 (below) for how to 

 that you should never share your Bybit account passwords, private keys or 2FA codes with anyone. Bybit will never ask you to disclose any sensitive information.

 is a service that allows users to buy cryptocurrency using fiat currency. Bybit supports 

, each of which in turn supports different fiat currencies.

One-Click Buy allows users to buy and sell coins through any of our supported payment methods — 

You may also buy crypto on our P2P portal. This allows you to buy crypto directly from other crypto enthusiasts. Visit 

 to learn more about how to buy crypto on P2P.

You may deposit fiat currency into your Bybit account using different methods, such as bank transfer or Volet.com (formerly Advcash), depending upon the respective currency. Once deposited, your fiat will be deposited into your funding account, and you can use your fiat balance to buy crypto directly.

Step 5: Explore Bybit Beginner-Recommended Products

Once you’ve deposited crypto into your Bybit account, you can explore the various trading products Bybit offers. Here are some beginner-recommended products:

In our Spot market, you can trade hundreds of cryptocurrencies. Crypto Spot trading is a transaction between buyers and sellers to trade one cryptocurrency for another at the current market price. 

If you’re not ready to trade yet, but still want to grow your crypto holdings, you can look at our Earn products.

Alternatively, if you want to obtain newly listed tokens, you can dip your toes into Bybit Launchpad, a token launch platform for innovative blockchain projects. Bybit Launchpad gives users access to pre-listing rounds and allows them to earn new tokens directly on Bybit. 

Now that you’re all set up, it’s time to dive into the exciting features that the Bybit App has to offer. From Spot and Derivatives trading to a full-fledged NFT Marketplace, Bybit brings a world of possibilities to your fingertips — and with the added assurance of Bybit’s advanced security measures, you can trade with confidence, knowing your funds are well-protected.

Whether you’re aiming to maximize profits with the Bybit Wealth Management program or looking to engage with the decentralized ecosystem through Bybit Web3, the Bybit App has everything to cater to your trading needs. Let’s take a closer look at these features.

Customizing Language Preferences and Regional Currency Display

In order to personalize your trading experience, Bybit allows you to adjust your language preferences and select a regional currency of your choice. Simply navigate to the settings within the app to customize these options.

Utilizing Trading Strategies and Copy Trading

To maximize your trading potential, Bybit provides access to sophisticated trading strategies crafted by experienced Bybit traders, including Bybit Margin Trading. Whether you’re a seasoned trader or just starting out, these strategies can be a valuable resource to guide your trading decisions and help you experience unparalleled trading opportunities.

But that’s not all. With Bybit’s Copy Trading platform, you can mirror the trades of master traders. This not only saves you the effort of conducting market analysis, but also allows you to learn effective strategies from experienced traders.

Couple this with the option of using automated bots to increase revenue and reduce losses, and you have a powerful tool kit to enhance your trading efficiency on the Bybit App.

In the volatile world of cryptocurrency, managing risk is crucial in order to protect your capital and ensure stable returns. Bybit provides various tools and strategies to aid in risk management, from setting goals and defining risk appetite to diversifying portfolios and more, all aimed at enhancing portfolio stability.

Additionally, Bybit advises users to enhance their account security to minimize the risk of hacking. Having an identity-verified account also facilitates easier account recovery in case of lost credentials. With these measures, Bybit ensures that you can trade with peace of mind, knowing your assets are well-protected.

In the ever-evolving world of cryptocurrency, staying updated is key to success. Bybit updates its latest products, trading pairs and other important information through a dedicated announcements feature. Be it special events like the 

 or educational opportunities such as the 

, everything is communicated via Bybit announcements.

Moreover, the platform informs users of market updates, including trading closures and delivery schedules. Exclusive promotions for specific regions are also announced to Bybit users. In short, Bybit ensures you’re always in the know, so you can make the most of your trading experience.

From downloading the Bybit App and getting started to exploring its key features and enhancing your trading experience, we’ve covered a lot of ground in this comprehensive guide. Whether you’re trading on an Android or iOS device, Bybit offers a seamless, user-friendly platform packed with advanced features and tools to cater to your trading needs. 

As you begin your Bybit journey, remember that the key to successful trading lies in constant learning, effective risk management and staying up-to-date with the latest developments. Get started today and explore the exciting cryptocurrency trading world with Bybit!

Easy Guide: How to Download the Bybit App on iOS and Android Devices

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards