Bybit Web3, the Web3 division of Bybit and one of the top global crypto exchanges, announced an Initial DEX Offering (IDO) for Thetanuts (NUTS) on its platform.

The SPX index was up 0.48%. This optimism persisted despite higher-than-expected producer inflation in April and revisions to March's data. Traders also considered comments from Federal Reserve Chair Jerome Powell about maintaining restrictive monetary policy. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 2.49% and 2.08%, respectively, in the past 24 hours.

Today’s outperformer is AR, which jumped 2.2% after Arweave Ecosystem Update Features New Migrations, Autonomous Trading, and Community Bounties.

Arweave (AR), launched in June 2018, is a decentralized platform for permanent data storage, leveraging its AR cryptocurrency to incentivize users and ensure data permanence. It offers easy web access and is developing moderation tools, with a key partnership with the Internet Archive highlighting its commitment to secure data preservation. Recently,  Arweave Weekly Digest features ar.io's migration to 

 to enhance scalability and introduces Autonomous Finance’'s trading bot for automated portfolio strategies. It also highlights Weavers Raid II with $10,000 in bounties for community projects. Additional updates include the first $AR token bridge via AOX, a partnership with Anchorage, and new educational and community engagement resources, including a podcast on Arweave infrastructure.

Check Out the Latest Prices, Charts, and Data of 

Bybit Web3, the Web3 division of Bybit and one of the top global crypto exchanges, announced an Initial DEX Offering (IDO) for 

 (NUTS) on its platform. Thetanuts, a leading DeFi options protocol that specializes in altcoin options, has become the top DeFi Options Protocol by TVL, exceeding $30 million. The IDO will run from May 13 to May 17, 2024, with the token listing on May 20. Eligible participants must maintain a minimum balance of 400 USDC in their Bybit Wallet during the snapshot period. A total of 66,660,000 NUTS tokens are allocated for the IDO from a total supply of 10 billion.

Cryptocurrency investment products saw $130 million in inflows, reversing a previous trend of outflows, with Bitcoin funds receiving the largest share. However, trading volumes decreased. Institutional investment in U.S. spot Bitcoin ETFs increased, highlighted by the State of Wisconsin Investment Board's significant purchases. This reflects a growing interest in digital assets among traditional financial institutions.

 after identifying and redistributing tokens from Sybil accounts to genuine users. The airdrop is set to launch on May 16, 2024, at 12 pm UTC. It includes an initial allocation and a bonus that vests over 6 hours to reduce network congestion and enhance user experience. This airdrop marks a significant move towards decentralizing Drift Protocol, empowering its community, and driving future development. Further details on eligibility and claiming are available on their website.

Beginner

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Bybit Web3 Announces IDO for Leading DeFi Options Protocol Thetanuts

Liquid restaking is a process whereby staked crypto assets are reused to secure additional blockchain protocols, enhancing capital efficiency and liquidity.

Liquid restaking presents a dynamic and effective method for 

) ecosystem. Through the creation of liquid restaking tokens (LRTs), staked assets are tokenized, allowing investors to maintain control over their assets while still enjoying rewards. This approach enhances liquidity and financial flexibility and optimizes the use of capital. 

In this article, we’ll explore liquid restaking, breaking down its core concepts and assessing both its benefits and potential risks in DeFi.

Liquid restaking is a process whereby staked crypto assets are reused to secure additional blockchain protocols, enhancing capital efficiency and liquidity. It allows investors to earn rewards from a restaking platform.

Liquid restaking tokens (LRTs) are digital assets that represent staked cryptocurrencies. They enable users to repurpose staked tokens to secure additional blockchain systems. Users receive LRTs when they deposit liquid staking tokens on a restaking platform. 

Liquid restaking introduces a fresh perspective to the world of cryptocurrency, building upon the principles of staking in a way that enhances efficiency and potential returns. At its heart lies the 

 (PoS) system, through which validators secure the network by 

 their cryptocurrency as collateral rather than via traditional 

. In this setup, validators validate transactions, add them to the blockchain and, in return, earn rewards proportional to their staked amounts.

But what really sets liquid restaking apart is its innovation in allowing staked assets to be “restaked” or reused to secure additional blockchain protocols. Holders of liquid staking tokens can choose to sell, trade or lend their assets on a DeFi platform. This system is made possible through a process known as rehypothecation, whereby the same collateral is used to back different activities.

EigenLayer introduced the concept of restaking tokens, enabling users to take their staked ETH and restake it with actively validated services (AVS). These services perform various functions, such as providing support for Ethereum scaling solutions and furnishing shared security. Networks that can't afford to create native validators can rely on the restaked tokens generated by larger Ethereum networks to handle consensus.

 (TVL) from investors, including amassing 

 of the total amount of Ether (ETH) in circulation within just two days after reopening deposits in February 2024. 

To support this process, staked assets are represented by LRTs, which are tokenized versions of the original staked assets. These tokens serve multiple purposes within the ecosystem, such as securing additional protocols or participating in governance. Just as staked tokens have 

 (LSTs) to preserve liquidity, restaked tokens gain liquidity from LRTs. 

The beauty of liquid restaking lies in its ability to enhance capital efficiency. Validators can earn additional rewards without the need to stake more assets, which improves the overall liquidity of the system. 

However, while liquid restaking offers the potential for higher returns, it also comes with increased risks. The rehypothecation of assets means that if one system fails, it could have a ripple effect on others secured by the same assets.

Liquid restaking brings both promise and caution to the blockchain space.

Liquid restaking and liquid staking are both innovative concepts, with profound implications for staking. They share the common foundation of operating within the PoS framework, whereby validators secure the network by staking their cryptocurrency rather than through traditional mining methods. 

Both systems aim to improve liquidity and capital efficiency within the blockchain space by tokenizing staked assets, enabling greater flexibility by their utilization. However, they differ in their scope and approach. Liquid staking primarily focuses on securing a single PoS blockchain, while liquid restaking extends this concept by using staked assets to secure additional blockchain protocols or applications, such as 

Liquid staking involves earning rewards solely from the staking process itself, while liquid restaking potentially offers additional profits by incorporating rewards from staking on the primary blockchain (such as Ethereum) and operations on platforms like EigenLayer. However, liquid restaking tends to be more complex due to the rehypothecation of assets, which may carry a higher level of systemic risk as compared to liquid staking.

Is Liquid Restaking Better Than Liquid Staking?

When weighing the merits of liquid restaking against those of liquid staking, it’s important to consider the trader's level of experience and their specific investment objectives. 

For beginning traders, liquid restaking may seem daunting due to its intricate mechanics and the added risks associated with rehypothecation. In this regard, liquid staking could be a more straightforward and safer entry point into the staking ecosystem.

On the other hand, experienced traders, accustomed to the complexities and risks of DeFi, might find liquid restaking more appealing. It promises the potential for higher returns and increased capital efficiency, which aligns well with the goals of those seeking to optimize their investments.

Liquid restaking is a better alternative to liquid staking for those who wish to actively participate in the Ethereum consensus process, and seek to leverage their staked assets beyond traditional staking rewards. However, this choice comes with added risk and complexity.

Liquid restaking offers a promising alternative to traditional liquid staking, particularly for those interested in actively participating in the Ethereum consensus process and maximizing their staked assets. By allowing staked assets to be repurposed across various protocols, liquid staking not only contributes to the security and efficiency of the Ethereum network but also opens up avenues for earning additional rewards.

Intermediate

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Liquid Restaking: A Better Alternative to Liquid Staking?

ZeroLend (ZERO) is a multichain lending and borrowing protocol specializing in RWAs and LRTs.

 and borrowing is the second-largest category in the decentralized finance (

. This gigantic niche has been among the driving forces of the DeFi revolution that began around 2017–2018. While there’s been no shortage of lending and borrowing protocols specializing in regular crypto tokens and 

, it’s challenging to find platforms that focus on specific assets.

ZeroLend (ZERO) is a new multichain protocol that aims to do just that. The project focuses on two specialized crypto assets — real world assets (

) and liquid restaking tokens (LRTs) — in its lending and borrowing operations. It also offers other innovative solutions, such as account abstraction, that dramatically simplify access to and management of DeFi assets and activities.

 (ZERO) is a multichain lending and borrowing protocol specializing in RWAs and LRTs.

ZeroLend was founded in 2023 and gradually expanded its Layer 2 coverage throughout early 2024. It's been backed by several prominent institutional investors, including Consensys, Polygon Ventures and Transform Capital.

ZeroLend allows users to lend and borrow funds using a variety of crypto assets, including RWAs, LRTs, stablecoins, high-cap cryptocurrencies (e.g., ETH or 

) and high-risk assets, such as GRAI, MULE and more.

Besides its key lending and borrowing operations, ZeroLend also offers its users account abstraction (AA) services. AA allows traders to carry out common DeFi activities in a user-friendly way without worrying about managing such underlying, low-level blockchain concepts as 

The ZeroLend platform offers lending and borrowing in a range of conventional crypto assets. These can be grouped into three broad categories. The first group is cryptocurrencies with 

 and liquidity levels of at least $100 million. Typical cryptos in this category include major assets such as ETH or WBTC. The second group consists of USD-pegged stablecoins, such as 

. Finally, there’s a category for smaller-cap cryptocurrencies, as well as typically risky cryptos. These three groups are in addition to specialized assets, namely LRTs and RWAs, which we'll cover below.

One of the cryptocurrencies available for borrowing via the ZeroLend ecosystem is 

, a USD-pegged crypto minted by providing collateral in ETH or stablecoins. Thanks to overcollateralization, each ONEZ is backed by more than $1. Being safely overcollateralized and pegged to the U.S. dollar, the ONEZ token is a valuable asset for DeFi users looking for stability amid the inherent volatility of decentralized crypto trading.

Borrowed funds on the ZeroLend protocol can be subject to 

. This is designed to protect liquidity providers and support the overall financial viability of the platform. If the loan-to-value (

) ratio for borrowed funds drops below a specified threshold (known as the loan’s health factor on ZeroLend), the loan could be liquidated by the platform unless the borrower adds enough funds.

How liquidation works on ZeroLend. Source: docs.zerolend.xyz

ZeroLend also provides lending opportunities in LRT assets. More commonly known as 

 (LSDs), these are tokens issued by a variety of liquid staking platforms when you stake funds on them. Currently, four LRTs are supported on the ZeroLend decentralized lending platform — ezETH from Renzo, weETH from 

, rsETH from Kelp DAO and pufETH from Puffer.

By providing LRT lending opportunities, ZeroLend allows you to put these tokens to further use beyond their native platforms. You earn yields on your investment both on the original liquid staking protocol (through your investment in ETH or stablecoins) and on ZeroLend (through one of the supported LRT assets).

ZeroLend is also among the few platforms that provide RWA lending opportunities. RWAs are a rapidly growing sector and are projected to become a $10 trillion market by 2030. The platform hopes to capitalize on this growth by offering crypto lending collateralized using tokenized stocks, commodities, bonds, real estate and other types of off-chain financial assets.

Providing RWAs as collateral on ZeroLend can lessen one key limitation in crypto lending and borrowing: overcollateralization. Most crypto loans require ample overcollateralization, with typical collateral amounts ranging from 120% to 200% of the borrowed funds. Many borrowers don't have access to such capital in crypto assets. By tokenizing their RWAs and bringing them on-chain, they can access crypto loans more efficiently.

For instance, an institutional entity looking to borrow $500,000 in stablecoins might not have the $600,000 to $1 million in cryptocurrency typically required as collateral in such a scenario. However, they might have access to RWAs, such as real estate, land or bonds, against which they can take out the loan. Naturally, before these assets can be used to secure crypto loans, they need to be brought on-chain via tokenization.

Many DeFi trading activities require users to be familiar with operations and concepts such as private key management, gas fees, and multisig transactions. For crypto beginners, these notions can be confusing, raising barriers to entry to DeFi platforms. Even experienced users would ideally like to concentrate on actual trading instead of managing these nuances. This is where AA comes in.

ZeroLend's AA service provides you with a user-friendly wallet interface in which low-level details related to signatures, keys and gas fees are automated and abstracted away from you — thus freeing you from the necessity of handling these operations directly. AA helps you keep transactions private, cover gas fees (or lets you pay gas fees with ERC-20 tokens), access gasless transactions, automate the handling of delegated transactions, and log in to DeFi platforms with social handles in a user-friendly way.

AA on ZeroLend is achieved by tying your wallet not to an ordinary address on the blockchain, but to a programmable 

. As such, your abstracted wallet can programmatically handle common low-level operations based on the smart contract code, without you having to worry about nuances and technicalities.

Launched on May 6, 2024, ZERO is ZeroLend's native crypto token. It's an 

 asset on the Linea Layer 2 chain. The ZeroLend token has the following key functions:

 asset, with a total and maximum supply of 100 billion.

So far, ZeroLend has announced two main airdrops. 

 is the platform's default airdrop system, whereby users are allocated ZERO tokens based on Zero Gravity points — the protocol's loyalty point program. The more actively you participate in ZeroLend (as measured by your lending and borrowing activity), the more Zero Gravity points (and therefore, more ZERO airdrop allocations) to which you’ll be entitled.

The second airdrop is a campaign focused on distributing 

 tokens. A nontransferable crypto asset, earlyZERO is used to incentivize early platform users. Following ZERO's token generation event (TGE) that took place on May 6, 2024, recipients of earlyZERO can convert their tokens to ZERO at a 1:1 ratio.

The ZERO token is available on Bybit via Spot pair with USDT (

). Additionally, you can participate in Bybit's Spot listing campaign from May 6–20, 2024, dedicated to the ZERO token to grab a share of the 

As of May 14, 2024, ZERO has been on the market for eight days and 

. Long-term price estimates for ZERO are bullish, with DigitalCoinPrice expecting the token 

 in 2025 and $0.00353 in 2030. Meanwhile, Cryptoticker forecasts it 

ZeroLend's focus on RWAs and LRTs opens up new, flexible opportunities for DeFi lenders and borrowers. You can now increase total yields from your liquid staking investment by reinvesting LRT assets on ZeroLend, and the platform's RWA lending service is a unique opportunity to borrow tokens leveraging your real-world financial assets. The best part of all is that all these novel products are available through multiple chains, offering you plenty of options to conduct your lending and borrowing activities on your preferred platform.

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ZeroLend (ZERO): A Multichain Lending Platform on Layer 2 Networks

SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs. Learn more here.

The Oracle Red Bull Racing Velocity Series represents a groundbreaking collaboration between the high-octane world of Formula 1 racing and the revolutionary technologies of 

, seeks to redefine fan engagement by integrating the thrill of racing with the dynamic potential of digital collectibles. Through the introduction of the SPEED token and the 

 protocol, this series not only captivates enthusiasts of motorsports and crypto but also sets a new standard for innovation in both fields. 

As we explore these technologies, we'll uncover how they blend the adrenaline of real-world racing with the expansive possibilities of the digital realm, offering unique opportunities for interaction and investment.

What Is the Oracle Red Bull Racing Velocity Series?

 is a pioneering initiative from Oracle Red Bull Racing and Bybit, blending the excitement of Formula 1 racing with innovative digital art and NFTs.

Launched as a strategic collaboration between Bybit and Oracle Red Bull Racing, the Velocity Series aims to captivate both racing aficionados and digital art enthusiasts by merging these two worlds through blockchain technology. The series features unique digital artworks that draw inspiration from the racing team's performance and dynamic data generated by the iconic RB20 F1 car.

DN-404 is an Ethereum token standard that represents a novel approach to blockchain technology, specifically designed to handle the complexities of 

. Created by Asterix Labs in February 2024, DN-404 aims to streamline the ownership and transacting of these unique digital assets by allowing them to be fractionally owned and traded, thus bridging the gap between non-fungible and fungible token operations.

The DN-404 protocol utilizes a sophisticated mint-and-burn mechanism to manage the relationship between fungible tokens and their corresponding NFTs. Purchasing a full token results in the minting of a linked NFT, while selling parts of the token leads to proportional burning of the NFT, thus maintaining a balance that supports fractional ownership and transferability. This process ensures that NFTs can be owned and traded more flexibly and with fewer complications as compared to traditional methods.

SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs.

The SPEED token is limited to a total supply of 2,000, making it an exclusive element of the Velocity ecosystem. SPEED tokens are intricately linked to the ownership of Velocity Pass NFTs, which provide various benefits and privileges within the Oracle Red Bull Racing community. This means that if you’ve been airdropped a Season Two pass (

), or have bought one via the Dutch auction, you’ll have one SPEED token in your wallet. 

The integration of SPEED with Velocity Pass NFTs ensures a cohesive and enriched user experience.

Velocity Pass NFTs are exclusive digital assets that offer holders a unique blend of experiences and benefits within the Oracle Red Bull Racing ecosystem. More than just digital collectibles, these NFTs serve as keys to a series of privileges and interactions that connect fans more closely with the world of Formula 1 racing. Owners of these passes gain access to special events, digital art drops and other unique experiences designed to enhance the fan engagement and community aspect of the racing series. Each NFT is tied to specific benefits and offers that vary depending upon the level of the pass and the events occurring within the racing season.

This year, the Velocity Pass has significantly expanded and enhanced its offerings. The collection introduced an appealing new design and doubled its number of total passes to 2,000. This expansion aims to enrich the overall experience, regularly introduce new surprises and expand the community, thus drawing more fans into the exciting world of Velocity.

Holders of the Velocity Pass 2.0 now enjoy exclusive privileges, though it's important to note that fractional ownership doesn’t qualify for these benefits. These privileges include access to three exclusive NFT artwork drops from top-tier artists in 2024, eligibility for various surprise elements and participation in raffles with outstanding prizes.

In terms of distribution, out of the total supply of 2,000 Velocity Pass 2.0 NFTs, 900 were made available through a rebate Dutch auction that started at 5 ETH and decreased to 0.5 ETH. Moreover, 1,000 passes were airdropped to original Velocity Pass NFT holders, determined by a snapshot taken on Apr 12, 2024 at 1PM UTC. The remaining 100 passes were reserved for promotional activities.

Ownership and actions associated with the SPEED token are intimately tied to the Oracle Red Bull Racing Velocity Pass 2.0 NFTs. Each SPEED token is linked to a corresponding NFT, and various transactions can alter the ownership status and privileges of these digital assets.

These mechanisms ensure a dynamic interaction between the token and its corresponding NFT, mirroring the complex relationships within more traditional asset management, but with the added nuances of blockchain technology.

The following are among the multiple benefits of holding the SPEED token.

The SPEED token significantly enhances liquidity within the cryptocurrency market. Holders aren’t limited to waiting for a single buyer, but rather can engage in instantaneous transactions across multiple exchanges. This flexibility ensures that users can capitalize on market movements quickly and efficiently, reducing the potential for 

 and improving the overall trading experience.

SPEED tokens introduce a more flexible approach to participation within the Oracle Red Bull Racing Velocity ecosystem. Investors and fans have the liberty to decide the extent of their involvement, whether fully immersed or partially engaged. This flexibility allows for a more personalized interaction with the ecosystem, accommodating both casual enthusiasts and dedicated supporters.

By holding SPEED tokens, you become an early adopter of DN-404 technology in the blockchain space. This positions SPEED holders at the forefront of blockchain innovation, providing them with the opportunity to experience and benefit from the latest developments in blockchain technology and NFT integration.

Owning SPEED tokens also means becoming a part of an active and passionate community that’s composed of individuals who are enthusiastic about the latest advancements in blockchain technology, and are keen on exploring new possibilities within the NFT space. This communal aspect fosters a network of support and information exchange, enhancing the user experience and providing a foundation for collective growth and learning.

Purchasing and selling SPEED tokens is straightforward and can be done through 

 that support this token. To engage in transactions, users can input the specific contract address of the SPEED token (0x1c72523eecade307c9bffd03953ff91c5b80be09) into the DEX, such as 

For the below examples, we’ll assume a scenario in which the Buyer and Seller already have two DN-404 tokens each before trading.

The Oracle Red Bull Racing Velocity Series, with its SPEED token and DN-404 protocol, exemplifies the innovative fusion of sports, art and technology. This initiative not only enhances the fan experience by offering a digital interactive dimension to the racing world, but also pushes the boundaries of what’s possible in the NFT space, paving the way for new forms of digital engagement and investment.

If you have any questions or require any clarification, you can ask for assistance on Bybit’s Discord and we’ll try to help you achieve the best possible SPEED and Oracle Red Bull Racing Velocity Series experience.

:This Community Guide is not intended as advice. It’s important to 

 that cryptocurrencies remain unregulated in many jurisdictions, including the U.K. Profits from cryptocurrency transactions may be subject to capital gains taxes or other financial obligations. Additionally, the value of cryptocurrency investments can fluctuate in value. Given that DN-404 is a new and evolving blockchain technology, prospective Velocity Series 2.0 participants are advised to seek independent advice before engaging with this platform.

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Oracle Red Bull Racing Velocity Series (SPEED): Advancing with DN-404

Bybit Learn

Strategies

What would happen after approval of Ethereum Spot ETFs? Read on as we offer Ethereum price predictions and suggest trading strategies that you can adopt.

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 of an Ethereum Spot exchange-traded fund (

) by the SEC has continued to stir anticipation in the crypto community. The 

 on January 10, 2024 has raised hopes for similar products linked to 

. However, recent delays in the SEC's decision-making process have introduced uncertainty, with major players like 

This article analyzes the potential outcomes of the SEC's decision on Ethereum Spot ETFs, as well as its impact on Ether's price. Learn winning trading strategies on Bybit, depending upon your view of post-approval trends.

An Ethereum Spot ETF is an investment vehicle that tracks the price of 

. It allows investors to gain exposure to Ethereum without directly owning or storing the cryptocurrency themselves. Investors buy shares in these funds rather than purchasing Ether directly from cryptocurrency exchanges. Unlike 

, which derive value from futures contracts, Ethereum Spot ETFs are hedged by Spot ETH tokens. As a result, the ETFs can mirror Ether’s real-time market price.

Why Is Everyone Excited About Pending SEC Approval of Ethereum Spot ETFs?

The excitement surrounding the pending SEC approval of Ethereum Spot ETFs stems from the potential for this investment vehicle to provide easier access to Ethereum's price movements for both retail and institutional investors. Anticipation was initially high after the SEC approved Bitcoin Spot ETFs on January 10, 2024, leading many to believe that similar products backed by Ethereum would follow suit. However, recent delays in the SEC's decision-making process have added to the suspense and speculation around the approval of Ethereum Spot ETFs.

Investors are particularly eager because SEC approval of Ethereum Spot ETFs would provide a regulated way to gain exposure to Ether. Spot ETF approval could open up new avenues to investment for both institutional and retail investors.

Despite initial optimism, recent news indicates that the SEC has been delaying decisions on 

 from major players like BlackRock, Fidelity, VanEck, Franklin Templeton and Grayscale. These delays and uncertainties in the SEC's decision-making process have dampened expectations, raising fears that the SEC may not approve these ETFs as quickly as initially hoped.

Post–Ethereum Spot ETF Approval Price Prediction: Three Potential Outcomes

The recent surge in Ethereum's price, as it briefly crossed the $4,000 mark in March 2024, has been fueled by a mix of factors, 

 surrounding the possible approval of an Ethereum Spot ETF. This bullish trend has sparked optimism within the crypto community, with experts foreseeing further price surges if the Spot ETF applications get the green light. Against this backdrop, all eyes are on the SEC’s upcoming decision, slated for May 2024, regarding the approval of Ethereum ETF applications from issuers like Fidelity, ARK 21Shares and Hashdex. 

As the anticipation mounts, traders may want to consider potential outcomes, which could fluctuate based on market expectations, regulatory clarity and general sentiment. 

Here are three potential scenarios that could unfold following the approval of an Ethereum Spot ETF, and how you can navigate each one in your favor.

Bullish Post–Ethereum Spot ETF Approval Price Prediction

For several reasons, approval of an Ethereum Spot ETF could fuel bullish market sentiment. First, it would offer a regulated and straightforward path for retail and institutional investors to tap into Ethereum's potential without dealing directly with cryptocurrency complexities. This newfound accessibility could trigger a surge in demand, potentially driving up Ethereum's price. Also, the approval itself could serve as validation for Ethereum's legitimacy and its potential for wider adoption, instilling further confidence among investors.

Optimal ETH Option Strategy: Bull Call Spread

If you're bullish on Ethereum, a bull call spread could be an optimal strategy. Here's how it works: You purchase a 

. Simultaneously, you sell a call option, at a higher strike price, that's out-of-the-money (OTM). Both 

This strategy allows for profit if Ethereum's price rises beyond the cost of the call spread, while limiting your potential loss to the net premium paid. It can be a cost-effective way to benefit from bullish movements with a known maximum risk.

To execute a bull call spread strategy on Bybit, purchase a near at-the-money ETH call at a strike price of (for this example) $3,200, expiring at the end of June. Next, sell an out-of-the-money call option with a higher strike price, such as $3,800. Ensure both options have the same expiration date. The net 

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,200 lower strike call and sell a $3,800 higher strike call that costs $200, here’s an analysis of potential profitability. 

:(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Lower Strike Price + Net Premium Paid = $3,200 + $200 = $3,400

Bearish Post–Ethereum Spot ETF Approval Price Prediction

Several factors could contribute to negative market sentiment post–Spot ETF approval. For instance, approval could lead to selling pressure, as investors who’ve been waiting for the news sell their holdings. This increased supply could outpace demand, driving down the price of Ether. In addition, approval could signal a saturation point in the market, leading investors to take profits and exit their positions. 

The SEC has been investigating Ether to determine whether to classify it as a security because of its transition to a 

 consensus mechanism, which has implications for more stringent regulation. If an ETF approval is accompanied by negative news regarding security classification or other concerns, it could dampen investor sentiment and contribute to a bearish market outlook for Ethereum.

Optimal ETH Option Strategy: Bear Put Spread

The optimal ETH option strategy on Bybit for a bearish outlook could be a 

 at a higher strike price and simultaneously selling a put option at a lower strike price, both with the same expiration date. A bear put spread allows investors to profit from a potential decrease in Ether's price, while limiting their downside risk. 

This strategy is cheaper than buying a put option by itself and benefits from the price of ETH falling, in addition to the time decay of the short put option.

To execute a bear put spread strategy on Bybit, buy an ATM or OTM put option strike price, such as $3,000, and simultaneously sell a put option with a lower strike price, for example, $2,500. Both options should have the same expiration date. The net delta is around 0.2.

Your payoff is based on the change between Ethereum's price and the strike prices of the options. If you buy a $3,000 higher strike put and sell a $2,500 lower strike put that costs $250, here’s your potential profitability:

(Higher Strike Price − Lower Strike Price) − Net Premium Paid =

Higher Strike Price − Net Premium Paid = $3,000 − $2,500 = $500

Neutral Post–Ethereum Spot ETF Approval Price Prediction

In a scenario where the price of Ethereum post–Ethereum Spot ETF approval is neutral, the market sentiment could be balanced, for various reasons. The approval of Ethereum Spot ETFs might be expected by the market, leading to a lack of significant price movement. Additionally, investors might adopt a wait-and-see approach to assess the actual impact of the approval on Ethereum's price, resulting in a temporary equilibrium between buying and selling pressure.

Optimal ETH Option Strategy: Cash-and-Carry Arbitrage Trade

A strategy you can use on Bybit when your position is neutral is that of cash-and-carry 

. The anticipation of Ethereum Spot ETF approval could prompt Futures contracts to trade higher than Spot. To execute a market-neutral trade, traders sell their ETH Futures against buying Spot. 

To execute this ETH trade on Bybit, buy ETH for $3,150 (for example) to establish your long Spot position. Then, sell an equivalent number of ETH June Futures for $3,156. You may then profit from the $6 difference between Futures and Spot.

What if the SEC Doesn’t Approve Ethereum Spot ETFs?

The crypto market is a complex ecosystem, and regulatory decisions are just one of many influences on market dynamics. SEC denial of Ethereum Spot ETFs may lead to a temporary setback for both Ether's price and 

. Investors anticipating the approval may react by selling off their positions, causing a short-term decline in Ethereum's price. 

While some experts believe that the market has already priced in the possibility of Ethereum Spot ETF rejection, many still believe a refusal could cause a short-term dip in prices. The absence of an Ethereum Spot ETF could limit the accessibility of Ethereum to traditional investors, potentially slowing down the influx of institutional capital into the cryptocurrency market.

SEC rejection of an Ethereum Spot ETF could signal regulatory uncertainty and hesitation toward cryptocurrencies, affecting not only Ether but also other digital assets. Such lack of approval could affect investor confidence in the crypto market as a whole, leading to a period of volatility and cautious trading.

Overall, the failure to approve an Ethereum Spot ETF could result in a short-term price drop for Ether, increased market uncertainty and a potential slowdown in institutional adoption of cryptocurrencies.

As the excitement builds around the potential approval of an Ethereum Spot ETF, investors are exploring ways to maximize their exposure to Ethereum. 

 presents an attractive investment opportunity for those interested in staking ETH and earning yields. 

 ETH through Bybit Savings allows investors to earn a yield on their holdings, providing a steady source of passive income. It offers both flexible and fixed-term products, granting investors the flexibility to select the staking option that aligns with their investment strategies. 

Bybit Savings ensures competitive and guaranteed 

s, delivering attractive returns on staked ETH. These features make Bybit Savings a popular choice for investors seeking to seize potential market opportunities post–ETF Spot approval and maximize their returns while staking Ethereum.

Here’s how you can get started staking ETH and earning yield with Bybit Savings:

With the SEC's decision on Ethereum Spot ETFs approaching, traders and investors are preparing for potential market volatility and price movements. Whether the ETFs get approved or not, strategies are available to navigate different market scenarios effectively. From bullish to bearish or neutral outlooks, several strategies can take advantage of market movements after either SEC ETF approval or rejection.

Additionally, exploring opportunities such as staking ETH through Bybit Savings can provide alternative avenues for maximizing returns in the dynamic crypto market. 

Ethereum Price Prediction: How to Trade ETH After Approval of Spot ETFs

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