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

Bybit Learn

web3

Explainers

OpenSea is the world's first and largest NFT marketplace. Find out the origin of it and why it is so popular amongst NFT collectors and digital creators.

Dive into the world of non-fungible tokens (

, the world’s largest NFT marketplace that has revolutionized the way digital assets are bought, sold, and traded. Whether you’re a seasoned NFT enthusiast or a curious newcomer, this comprehensive guide will unravel the intricacies of what is OpenSea, its founders’ pioneering vision, and how it has grown into a thriving platform for millions of users. So get ready to explore the endless possibilities of NFT trading and creation, and embark on an exciting journey through the world of what is OpenSea.

Understanding OpenSea: A Comprehensive Overview

Established in 2017, OpenSea has rapidly evolved into the world’s most extensive NFT marketplace, serving as a user-friendly platform for the trade, purchase, and sale of digital assets. It offers a diverse range of NFT categories, including:

Built on the Ethereum network and integrated with the Polygon blockchain, OpenSea ensures seamless transactions with reduced fees, making it a popular choice for NFT enthusiasts.

OpenSea’s intuitive interface simplifies the process of creating NFTs for users, while developers can utilize the platform to build customized NFT marketplaces for various purposes such as in-game items, crowdfunding initiatives, and utility NFT distribution.

Driven by the ambition to develop open protocols enabling developers and users to create open economies across games, platforms, and digital worlds, Alex Atallah and Devin Finzer founded OpenSea in 2017. They identified a need for NFT collectors to safely trade their digital assets, and thus, the world’s largest NFT marketplace came into existence.

Today, OpenSea embodies their vision of an all-encompassing platform for digital asset transactions, including digital currency.

OpenSea’s meteoric rise is evident in its impressive growth, boasting:

The platform’s quick expansion, powered by its accessible interface and various NFT categories, has positioned OpenSea as a preferred destination for global NFT enthusiasts.

The platform of OpenSea presents an intuitive marketplace for users to delve into and uncover NFTs. With various filters and search options, users can easily find and browse through NFT collections spanning a wide range of categories, such as:

When searching for a new home, it’s essential to consider not only the house itself but also other properties in the neighborhood to ensure you’re making the best investment.

Finding the perfect NFT on OpenSea is a breeze, thanks to the platform’s user-friendly navigation. Users can easily sort NFTs by applying filters such as price range, collection, rarity, and more. OpenSea’s marketplace also provides several categories for filtering, including art, music, domain names, virtual worlds, trading cards, collectibles, sports, and utility.

OpenSea accommodates a wide spectrum of NFT enthusiasts with its support for various NFT categories, such as art, music, collectibles, virtual lands, and sports assets. Some of the most popular NFT categories on OpenSea are Profile Picture (PFP) collections, including 

Creating, Buying, and Selling NFTs on OpenSea

With the platform’s simple and straightforward processes, users can easily engage in the world of NFTs.

OpenSea offers various sale types and auction options, catering to the diverse needs of its users.

Learning how to create NFTs on OpenSea is as simple as constructing an NFT collection and uploading digital files in accepted formats. With just a few clicks, users can mint their unique digital assets and showcase them to a worldwide audience.

Buying NFTs on OpenSea is a seamless process. Here are the steps:

OpenSea’s user-friendly interface makes it easy for users to discover and purchase their desired NFTs.

Selling NFTs on OpenSea is equally straightforward. Users can navigate to their collection, select the NFT they wish to sell, and choose between listing it as an auction or a fixed sale. OpenSea charges a fee of 2.5% for each transaction, ensuring a fair and competitive marketplace for all users.

Blockchain Integration and Multichain Support

By integrating with multiple blockchains like Ethereum and Polygon, OpenSea assures seamless transactions and minimized fees for its patrons. The platform’s multichain support enables users to access a diverse range of NFTs, promoting a more inclusive and thriving NFT ecosystem.

Built on the Ethereum network, OpenSea utilizes the Wyvern Protocol for smart contracts, enabling secure and decentralized NFT transactions. Ethereum’s features that make it an ideal choice for developers and businesses include:

Ethereum serves as the foundational blockchain infrastructure for OpenSea.

OpenSea’s integration with Polygon offers users:

While Polygon may lack the same level of familiarity within the NFT market as Ethereum, its benefits in terms of transaction speed and reduced fees make it an increasingly popular choice for NFT enthusiasts.

OpenSea maintains compatibility with a variety of crypto wallets, facilitating easy connection and management of NFTs for users. The platform emphasizes security measures to protect users’ assets, offering valuable advice on best practices and precautions to maintain the safety of digital wallets and transactions.

OpenSea supports an array of wallets, including:

This allows users to connect and manage their NFTs. Users can easily integrate their preferred wallet with OpenSea and use it to purchase, sell, and trade NFTs on the platform.

OpenSea encourages users to follow security best practices, such as using hardware wallets and being cautious of phishing attacks. The platform has implemented security measures to protect user wallets and transactions, locking compromised accounts and blocking stolen items.

However, users are ultimately responsible for the security of their digital wallets, and OpenSea recommends taking steps to ensure that wallets are secure.

By offering valuable NFT data and market trends, OpenSea equips users to make enlightened decisions and uncover top collections. The platform’s analytics tools, along with its API for tracking real-time NFT sales, offer valuable insights for collectors and investors alike.

OpenSea offers a range of NFT statistics and analytics tools, such as:

These tools allow users to mint nfts and sort them, including non fungible tokens, utility nfts, and other crypto collectibles, by sales volume, recent activity, and other metrics, providing valuable insights into the NFT market and trends.

OpenSea highlights top collections and projects, helping users identify popular and valuable NFTs. By consulting the rankings on the OpenSea website, users can discover the highest-ranking NFT collections based on volume, floor price, and other statistics.

Notable collections include Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Springfield Punks.

Comparing OpenSea to Other NFT Marketplaces

OpenSea distinguishes itself from other NFT marketplaces with its exclusive features, varied NFT categories, and competitive fees. However, it also faces challenges and controversies that may impact its reputation.

A comparison of OpenSea with competitors such as Rarible and SuperRare offers significant insights into the respective strengths and weaknesses of each platform.

OpenSea offers a user-friendly platform, diverse NFT categories, and low fees compared to competitors like Rarible and SuperRare. Its easy-to-use interface, comprehensive search options, and blockchain support make it a preferred choice for NFT enthusiasts.

Additionally, OpenSea adheres to metadata standards, ensuring a seamless and enjoyable user experience.

Despite its success, OpenSea has faced controversies, including insider trading allegations, plagiarism, and phishing attacks. These incidents may impact the platform’s reputation and user trust. However, OpenSea has taken steps to address these issues and implement measures to prevent future occurrences, demonstrating its commitment to maintaining a safe and secure marketplace for its users.

In conclusion, OpenSea has cemented its position as the world’s largest NFT marketplace, offering a diverse range of digital assets and a user-friendly platform for trading, buying, and selling NFTs. Its integration with multiple blockchains, compatibility with various wallets, and emphasis on security make it an attractive choice for NFT enthusiasts. So, whether you’re a seasoned collector or just starting your NFT journey, OpenSea is an excellent platform to explore the exciting world of non-fungible tokens. #Bybit #CryptoArk

OpenSea is a blockchain-based marketplace for buying, selling and trading NFTs, similar to eBay or Etsy but in a decentralized manner.

Overall, OpenSea is a safe place to buy and mint NFTs since they are stored in your own wallet. However, there have been reports of crimes targeting the platform and its clients in 2021 and 2022, so it is important to take precautions when buying or trading.

OpenSea is free to use for creating and minting Non-Fungible Tokens (NFTs). Although selling an NFT on OpenSea is free, there may still be transaction fees involved depending on the blockchain being used, and OpenSea will typically take a 2.5%-10% fee from the total sale.

Open Sea is a great place for beginners to start exploring the world of NFTs, as it offers many options such as sports collectibles, domain names, trading cards, and virtual worlds.

OpenSea is a decentralized platform for buying and selling NFTs across multiple blockchain platforms such as Ethereum and Polygon. It also enables users to mint their own NFTs.

What is OpenSea? Discover the World's Greatest NFT Marketplace

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards