Gold is projected to surpass $3,000 per ounce in 2025, driven by strong macroeconomic and geopolitical factors.

At the heart of gold's potential surge is the current macroeconomic landscape that’s characterized by persistent inflation and anticipated monetary policy shifts. Inflation rates in the U.S. are expected to remain above the Federal Reserve's target of 2%, creating an environment in which gold is expected to serve as a crucial hedge against currency devaluation. When inflation erodes purchasing power, investors often turn to gold to preserve their wealth.

Moreover, the Federal Reserve has signaled a shift toward monetary easing, with market expectations indicating potential interest rate cuts in the coming months. Lower interest rates decrease the opportunity cost of holding gold, making it a more attractive investment as compared to interest-bearing assets, such as bonds and savings accounts. With real interest rates projected to remain low or even go negative, gold could experience renewed demand as a safe store of value.

Geopolitical tensions further bolster gold’s appeal. Ongoing conflicts, particularly the strained U.S.-China relationship and the Russia-Ukraine war, create an atmosphere of uncertainty that drives investors toward safe-haven assets. During times of geopolitical instability, gold has historically seen increased demand as investors seek to mitigate risks associated with market volatility.

As global tensions escalate, the demand for gold is likely to rise, reinforcing its status as a reliable hedge against financial instability. Investors tend to flock to gold during crises, viewing it as a secure asset that retains its intrinsic value, especially when other markets are under pressure.

Another significant factor contributing to the bullish outlook for gold is the unprecedented demand from central banks around the world. In 2024, central banks collectively purchased over 1,000 metric tons of gold, marking one of the highest levels of accumulation in recent history. This trend is expected to continue into 2025, particularly among countries like China and Russia that are actively reducing their reliance on U.S. dollar reserves as part of a broader de-dollarization strategy.

This central bank buying provides a strong structural support for gold prices, minimizing downside risks. As these institutions accumulate more gold, the resulting scarcity in the market could lead to higher prices. The growing demand from central banks underscores the renewed confidence in gold as a strategic reserve asset, especially amidst economic volatility and geopolitical tensions.

From a technical perspective, gold is currently in a robust uptrend, trading above key moving averages and nearing critical resistance levels. If gold successfully breaks through the psychological barrier of $3,000 per ounce, momentum could carry it toward higher price targets, potentially reaching $3,200 or even $3,500. 

, such as relative strength index (RSI) and moving average convergence divergence (MACD), suggest that gold remains in a bullish phase, indicating further upside potential.

As gold approaches these key resistance points, technical traders will closely monitor its price movements. A successful breach of the $3,000 level could trigger momentum buying, propelling prices higher as investor confidence grows.

Finally, rising investor sentiment plays a crucial role in gold’s potential price surge. Increased inflows into gold-backed 

 (ETFs), in addition to speculative positioning in futures markets, reflect strong confidence among both retail and institutional investors. As ETF holdings rise, it signals renewed interest in gold as a safe-haven investment.

This optimism is bolstered by a general shift in market sentiment as investors are increasingly turning to gold amid concerns over economic stability and inflation. The combination of robust technical indicators, macroeconomic pressures and favorable investor sentiment positions gold favorably for a significant price increase in 2025.

In summary, gold is well-positioned to reach $3,000 per ounce in 2025, driven by a combination of persistent inflation, geopolitical uncertainty, strong central bank demand and positive technical indicators. As investors seek refuge in safe-haven assets, gold’s intrinsic value and historical performance during times of crisis will make it an attractive option for preserving wealth. The confluence of these factors suggests that gold's upward trajectory could continue, making 2025 a pivotal year for this precious metal.

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Bybit Commodity Insight Report: Why Gold Is Poised to Reach $3,000 in 2025

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.

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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

Bybit Learn

DeFi

Altcoins

Explainers

 Zeta Markets is a Solana-based platform revolutionizing perpetual futures trading with swift settlements, low fees, and innovative undercollateralized positions.

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The arrival of early token-swap and lending protocols signified the emergence of the 

 (DeFi) industry in 2017–2018. However, it didn't take long for more advanced forms of trading — including 

 — to appear on the menu. Decentralized derivatives platforms flourished, quickly becoming a prominent niche within the DeFi ecosystem. Fast-forward to mid-2024, and the derivatives category of the DeFi market is approaching a 

Yet, despite all this growth, many decentralized derivatives platforms operate as if it's still 2018. With 

 (ETH) the largest blockchain hosting DeFi protocols, derivatives exchanges are encumbered with tardy settlement times and exorbitant 

. Additionally, onerous overcollateralization requirements are still the reality for many blockchain-based derivatives trading platforms.

One project within the space is notably different, though. Zeta Markets is a decentralized derivatives trading protocol on the 

 (SOL) blockchain that features lightning-fast sub-second transaction settlement times, minimal gas fees and the ability to trade via undercollateralized positions. The platform owes many of its benefits to Solana's stellar technical parameters. Others, however, are a function of the protocol's unique architecture.

 (ZEX) is a Solana-based crypto perpetuals exchange that offers users speedy order settlement times and meager fees while providing a noncustodial, fully on-chain trading environment. 

Thanks to the technical efficiencies of the Solana blockchain, the Zeta Markets platform features order processing times of less than one second and gas fees that are typically small fractions of a cent. As a public blockchain network, Solana also helps Zeta offer complete order transparency.

The protocol features a central limit order book (CLOB), a setup familiar to many DeFi traders using 

 (CEX) platforms and traditional markets. At the same time, it remains fully decentralized and is based on a blockchain ethos of community ownership.

Platform users place their perpetual futures trades from the same unified account, and account and order funding use the 

 (DEX) boasts one particularly vital feature — the ability to place undercollateralized trades. The platform's overall setup (particularly its margin system, discussed below) makes undercollateralized trading possible. This starkly contrasts with many other DeFi protocols, including perpetuals platforms that often require overcollateralization of accounts. For many DeFi users, this could be a critical factor, making Zeta Markets the best crypto perpetuals exchange for their trading needs.

Margin System for Undercollateralized Derivatives Trading

Zeta Markets' unique margin system allows it to offer undercollateralized trading opportunities. The system has three key elements: pricing 

 as the primary oracle to source up-to-date pricing data on crypto assets traded on the platform, with 

 as its backup oracle. Thanks to Solana's swift transaction-processing capabilities (supported by 400 millisecond block times), pricing data is incorporated into Zeta Markets in intervals of less than one second.

The collateral framework also works to support the margin system. While Zeta boasts undercollateralized opportunities, maintaining adequate collateral levels is important for ensuring the overall health and operations of its platform.

Finally, Zeta’s liquidation mechanism is also critical to protecting its system and making undercollateralized trading viable for the entire trader community. Network users willing to act as liquidators check the health of other accounts, liquidating those that fail below a certain maintenance 

 process, and any entity on the platform can opt to act as a liquidator. Liquidators earn rewards in the form of 30% of the maintenance margin for the liquidated account. Note, however, that acting as a liquidator is a high-risk activity with no guarantee of being profitable.

Unlike many other decentralized derivatives platforms, which typically use the 

 (AMM) trading model, Zeta is based on the CLOB system of order matching, which is usually found on CEXs. CLOB is based on directly matching buy and sell orders, rather than executing trades against an AMM liquidity pool. While AMMs shine for 

 trades, the CLOB model might be superior for crypto derivatives trading.

Compared to an AMM, the CLOB setup allows for better price discovery, often features more significant insights into market depth and is more efficient at supporting high-frequency trading. These factors are all critical for derivatives trading. Additionally, trigger orders — one of the main order types on Zeta Markets — are also better supported by a CLOB trading mechanism. 

Given all these advantages of a CLOB over an AMM in the area of derivatives trading, the project has made an intelligent choice to base its primary trading model on the former.

 have no expiration dates, funding rates are used to ensure that these contracts maintain value close to the underlying asset's spot market price at all times. A positive funding rate indicates that the price of the perpetual futures contract is currently higher than the underlying asset's price. In turn, a negative funding rate means that the futures contract is traded at a lower price than that of the underlying asset.

Based on current funding rates, Zeta users make funding payments to keep the price of the futures contracts adjusted to the market. Long positions make funding payments to short positions when the funding rate is positive, and conversely, 

 at times of negative funding rates. The prevalent funding rates are recalculated on the platform every 10 seconds.

Trading Tools and Features on Zeta Markets

 is the gateway to the platform's derivatives trading opportunities. Using it, you can open perpetuals contracts for some major high-cap cryptos, such as SOL, ETH, 

 (ARB), as well as several smaller-cap coins, e.g., 

 (DYM). You can also find some seriously hyped-up Solana-based meme coins, such as 

Traders can also take advantage of the leverage in most of these perps. Typically, leverages on major coins like SOL, BTC or ETH are up to x10, while perpetuals based on smaller-cap coins have ratios of around x4–x5. As noted earlier, you’ll need to fund your account using USDC before opening these futures contracts based on the cryptocurrency of your choice.

Zeta users can earn rewards in the platform's native token, ZEX, based on their trading activity. The rewards are based on the user's Z-score, which is largely determined by the amount of 

 paid by the account. The Z-score for each user and the rewards paid out are calculated once per epoch, with each epoch typically lasting 28 days.

Zeta Markets’ native token, ZEX, was launched in late June 2024 on the Solana blockchain. The token's main functions include 

Following ZEX's token generation event (TGE), users can now stake the crypto for up to four years. Staking ZEX offers benefits, such as a boost to the user's Z-score, which is crucial for the amount of ZEX rewards earned, eligibility for 

 and the right to participate in on-platform governance processes.

Upon staking ZEX, users are assigned a gZEX score, which is determined by the amount and duration of staking.

The gZEX score mentioned above is critical for the user's influence on Zeta’s governance processes. Your voting power will depend heavily on this score. While the platform's governance processes are still maturing, it's expected that community members will actively participate in on-platform decision-making by discussing and voting on proposals for protocol changes, market listings, reward models and other parameters.

For 90 epochs starting from ZEX's TGE in late June 2024, the platform will distribute 300 million ZEX tokens in incentive payments. Users' Z-scores (see above) will be critical for determining their reward allocations. With each epoch covering 28 days, this incentive program is expected to run until around mid-2031.

 asset, with a maximum and total supply of 1 billion. Supply allocation shares are per the chart below:

The supply distribution chart above shows that 10% of ZEX tokens are allocated to community airdrops. The Round 1 airdrop has 8% of the total supply allocated to it. In it, early contributors to the platform will receive ZEX tokens following the TGE, with the majority of the allocation determined by the users' Z-scores.

The other 2% of the ZEX supply slated for airdrops will be distributed in Round 2, in which ZEX stakers will be eligible for token allocations based on their gZEX scores, which depend on the amount and duration of staking. The Round 2 airdrop is scheduled to start 28 days after the TGE, in late July 2024.

The ZEX token is available on Bybit via the Spot market as a 

 dedicated to the token give you the chance to grab a share of the 4,620,000 ZEX prize pool.

: This event requires new users either to accumulate a deposit volume of at least 1,000 ZEX, or deposit at least 100 USDT and trade 100 USDT worth of ZEX in their first trade with Bybit in order to earn from a 1,000,000 ZEX prize pool.

: The second event offers a 2,000,000 ZEX prize pool, with rewards capped at 100,000 ZEX per trader. Any user, whether existing or new, needs to trade at least 500 USDT worth of ZEX on Bybit's Spot market. The more you trade, the higher the share of the prize pool you can expect to receive.

: Earn a 100 ZEX bonus from a 1,620,000 ZEX prize pool for each friend you refer (up to ten successful referees). Referees must join Bybit with your referral code and participate in either of the abovementioned ZEX events.

Zeta Markets offers derivatives aficionados a rare combination of insignificant costs and undercollateralized trading opportunities. Coupled with Solana's sub-second execution times and the CLOB setup that lends itself well to derivatives trading, Zeta stands out as a unique platform, both within the Solana ecosystem and the entire crypto industry.

Talk of Solana seriously challenging Ethereum in the DeFi space has been going on for years. However, despite the relative success of some Solana-based DeFi projects, no platform that would truly make it a reality has yet arrived. Zeta Markets may now try to mount such a challenge in one specific corner of DeFi — perpetuals trading. It won't be easy, but the project's numerous distinct advantages make this a task that’s not as far-fetched as some might think! 

Zeta Markets (ZEX): Revolutionizing Perpetual Futures Trading on Solana

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards