PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

Beginner

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Bybit Learn

web3

Bybit Web3 wallets are specialized tools designed to enhance user interaction with the decentralized internet. Learn more about how each of them works here.

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Exploring the unlimited opportunities in Web3 safely with the right wallet that suits your needs.

 represents a significant evolution of the internet, introducing a decentralized framework that shifts control and power back to users through 

. At the heart of this transformation is Bybit. We not only offer offer advanced trading solutions, but also facilitate seamless access to the burgeoning world of web3 through our diverse array of 

In this article, we’ll explore the different types of Bybit Web3 wallets available and help you understand and select the 

 to secure your digital assets while navigating the decentralizedweb.

Bybit Web3 wallets are specialized tools designed to enhance user interaction with the decentralized internet. They prioritize security, ease of access and reliability, enabling users to manage digital assets efficiently in the web3 space.

As users have varied needs, Bybit Web3 offers several types of wallets. Each of them is tailored to different preferences in terms of security, usability and control.

Cloud Wallet — For Beginners and Those Seeking Max Convenience

Bybit’s Cloud Wallet offers the utmost convenience by delegating the management of 

 to Bybit’s secure cloud infrastructure. This 

 wallet is ideal for newcomers to the cryptocurrency world, as well as those who prefer not to engage in the technicalities of private key management. The Cloud Wallet ensures that your assets are safeguarded by Bybit’s state-of-the-art security protocols, providing peace of mind and freeing you from the responsibilities of direct key management. Simply log in after creating to use it.

Seed Phrase Wallet — For Maximum Security and Control

 wallet that can be imported to Bybit Wallet with a seed phrase or private key. 

The seed phrase, which is a unique combination of words generated at the setup of the wallet, is used as the encryption key. This phrase is essential for accessing and recovering your assets, so you should store it securely. Ideal for users who prefer complete autonomy over their security, the Seed Phrase Wallet requires thorough understanding and responsible management of the seed phrase to prevent unauthorized access.

Keyless Wallet — A Balance Between Security and Simplicity

Innovating beyond traditional security measures, Bybit’s 

 is a noncustodial wallet that removes the need for a seed phrase and instead incorporates MPC technology to secure your private keys. This design caters to users who seek both security and simplicity, reducing the risk of losing access due to forgotten seed phrases or keys. It’s a perfect choice for those who value quick and secure access to their assets without the complexity of traditional methods.

Seed Phrase Wallet vs. Keyless Wallet vs. Cloud Wallet

The chart below explains the key differences between the Bybit Seed Phrase Wallet, Keyless Wallet and Cloud Wallet. 

The Keyless and Cloud Wallets require the creation of a Bybit account prior to usage. In contrast, the Seed Phrase Wallet doesn’t require a Bybit account, offering a more flexible approach for those who prefer minimal platform dependency. Importantly, none of these wallets require identity verification, simplifying the setup process while maintaining privacy.

Custody is a critical factor when choosing a wallet. The Seed Phrase Wallet is noncustodial, granting you full control over your seed phrases and private keys. This option is ideal for users who prioritize complete autonomy over their assets. The Keyless Wallet, while also noncustodial, introduces a dual key-share system enhanced by a recovery password. This system splits the control of private keys between Bybit and the user’s encrypted cloud storage, balancing security with recoverability. In contrast, the Cloud Wallet uses a custodial solution where Bybit assumes responsibility for the private keys, offering a straightforward and less technical user experience.

Accessibility across platforms is essential for seamless user experience. All three wallets are accessible via both the Bybit app and web interfaces. However, the Seed Phrase Wallet and Keyless Wallet can only be created through the Bybit App. Through the web version, you’ll be able to connect your Seed Phrase Wallet and Cloud Wallet via the Bybit Wallet Extension and WalletConnect, respectively.

In terms of functionality with web3 events, the Seed Phrase and Keyless Wallets currently support Bybit Web3 Swap and various 

. Future updates will expand their capabilities to include Bybit Web3 IDO and Staking. The Cloud Wallet, however, already supports a broader range of Web3 features, providing a more comprehensive service offering.

Security is paramount across all wallet types. The Seed Phrase Wallet employs encrypted storage solutions, such as iCloud or Google Drive, to safeguard your seed phrases, while the Keyless Wallet utilizes a multi-point storage strategy to secure private keys across several secure points. The Cloud Wallet, managed entirely by Bybit, adheres to standard security protocols to protect user assets.

When it comes to usability, the Cloud Wallet stands out for its ease of use, making it an excellent choice for newcomers to crypto or those who prefer convenience. The Keyless Wallet strikes a balance, offering more control than the Cloud Wallet, but with less complexity than the Seed Phrase Wallet, which demands a higher level of technical understanding, suited for those who are comfortable with direct management of their security details.

Safety level varies with each wallet type. The Seed Phrase Wallet offers the highest degree of security, designed to appeal to users who want maximum control over their digital assets. The Keyless Wallet provides substantial security with slightly less user responsibility, whereas the Cloud Wallet, while secure, places the least burden on the user by managing security protocols on their behalf.

Bybit Web3 Wallets are connected with over 30 chains. Each wallet supports different blockchain networks, which can be 

 by connecting to the respective wallet through Bybit's platform. 

The Seed Phrase Wallet offers extensive cross-platform compatibility, allowing users to import and export seed phrases or private keys to and from other wallets, thus enhancing its versatility. In contrast, the Keyless and Cloud Wallets are designed specifically for integration with the Bybit Web3 platform, focusing on a seamless user experience within the Bybit ecosystem.

This comparative overview provides insights into choosing the best Bybit Web3 wallet for you based on your specific needs, whether you prioritize security, ease of use or flexibility.

Determining the best wallet for your needs depends upon several factors, including your level of comfort with technology, your security requirements and how you intend to use your crypto assets. The Seed Phrase Wallet is unmatched for maximum security and control. If convenience is your priority, the Cloud Wallet offers a hassle-free solution. For a balance of security and ease of use, the Keyless Wallet is ideal.

Bybit’s diverse selection of Web3 wallets ensures there’s an option suitable for every type of user — from blockchain beginners to advanced traders. Each wallet type is engineered with specific features to cater to different needs, ensuring that you can navigate the web3 space with confidence, security and ease. As the digital landscape evolves, choosing the right wallet for you will be instrumental in your journey through the exciting and decentralized world of web3.

The Ultimate Guide to Choosing the Best Bybit Web3 Wallet

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards