Learn more about TOKYO BEAST, the web3 game developed by Japan’s leading mobile game company, and how to participate in the TOKYO BEAST Bybit Web3 airdrop event.

Blockchain gaming has come a long way since its early days of point-and-click, browser-based games. The current generation of web3 games delivers experiences on par with traditional gaming in both gameplay and narrative, offering players a genuine alternative to Web 2.0 games. 

 is a web3 game developed by Japan’s leading mobile game company. The blockchain-based game is set in 2124, a time when Androids with free will, known as “Replicants,” have become commonplace. They support the very foundation of the social economy, and humans often live comfortably as owners of these Replicants. Among these replicants are the “BEASTs,” conscious robots who have risen to prominence through participation in the high-stakes “XENO-karate” tournament. 

As the game progresses, individual motivations come to light, as questions like “What are the ambitions of the BEASTs?” and “What is the untold story behind their creation?” are explored in this complex and intricate game. 

 is centered around strategic team composition and automated battles. Players assemble teams of four BEAST androids. The key to success lies in the thoughtful combination of the unique abilities of thousands of different BEAST types. This is further enhanced by “Mods,” which are in-game items used to boost the BEASTs' statistics. 

 feature allows players to actively participate alongside their chosen proxy BEASTs, climbing the ranks of the Xeno-karate circuit in order to become legendary champions. BEAST NFTs represent the primary form of digital ownership within the 

A distinctive gene-shuffle breeding system empowers NFT holders to create entirely new BEASTs, so that they may inherit unique traits and characteristics. This breeding mechanism brings strategic elements to the game, and contributes to the potential appreciation in value and rarity of the BEAST NFTs. 

To cater to both Web 2.0 and web3 audiences, the 

 ecosystem is structured around two core components: 

. BASE offers a web3-centric experience focused on investment and economic activities, utilizing the project's native TBZ token. TRIALS provides a more traditional Web 2.0-like gameplay experience in which players can purchase in-game currency (Jewels), engage in gacha to acquire BEASTs and Mods and participate in various battles or missions. 

This dual structure allows players to engage at their own comfort level, making it easier for Web 2.0 users to explore the crypto aspects of the game at their own pace.

How to participate in the TOKYO BEAST airdrop on Bybit

 with a reward of 625,000 TGT tokens! The event is currently ongoing, and will end on Mar 25, 2025, 7AM UTC. 

This event is designed to introduce new players to the game and encourage them to interact with 

 accounts. To participate in this competition, a user needs to complete the following tasks.

5. Retweet and like TOKYO BEAST posts on X

7. Trade any assets worth 5 USDT or more on BSC chain in Dex Pro.

New to Bybit Web3 DEX Pro? Bybit has published a handy guide to help you get started on the platform. You can access it 

That’s it! You now have the chance to win a share of 625,000 TGT tokens. Please note that wallet addresses with a zero balance are not eligible for the airdrop. Airdrop distribution will take place within one month after the event has ended.

 is one of the most anticipated web3 games of this current season. Bybit’s partnership with this game provides Bybit users with an easy way to participate in this upcoming project and win rewards. 

Beginner

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What is TOKYO BEAST — and how to complete tasks for the airdrop

Lens, now live on mainnet, offers a complete platform for building SocialFi apps with fast, scalable transactions and low-cost fees using the GHO stablecoin.

Daily top performer — Nillion Network (NIL)

The S&P 500 futures fell 4%, extending last week’s 9.1% drop, as tariff tensions and global retaliation rattled markets. Gold slips to $2,985 as investors raise cash amid a stock selloff, but safe-haven demand may limit further downside. CoinDesk Indices, which tracks the broader crypto market, dropped 8.72% in the past 24 hours, Bitcoin rose 0.10%, while Ether dropped 0.29%. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is NIL, up 6.0%, following the launch of Nillion's Secret Vault, which empowers secure AI collaboration for sensitive data.

Nillion (NIL), founded in 2021, enables secure, decentralized data processing using cryptographic methods like blind computation, protecting privacy without exposing raw data—ideal for AI, DeFi, and healthcare. Nillion has 

 its Secret Vault, enabling AI agents to securely store and access sensitive data using natural language. This integration allows agents to collaborate on tasks like medical diagnoses while ensuring privacy and confidentiality, making it ideal for sectors such as healthcare and finance.

Check out the latest prices, charts, and data of 

 on mainnet, offers a complete platform for building SocialFi apps with fast, scalable transactions and low-cost fees using the GHO stablecoin. It provides pre-built social primitives like accounts, feeds, and groups, along with Grove, a user-controlled, on-chain storage solution. The Developer Dashboard simplifies app creation, user onboarding, and integration, even without coding expertise. Lens supports a range of use cases, from social networks to DeFi applications, with built-in distribution, customizable features, and seamless integrations with DeFi tools like Uniswap and Chainlink. It emphasizes user-owned data and provides robust developer support for faster app launches.

BTC spot ETFs saw a net outflow of $190.2M for the week ending April 4, 2025, driven by $95.5M from GBTC and $94.7M from other ETFs. Despite the weekly loss, cumulative flows since inception remain positive at $36.2B, with $58.8B into non-GBTC ETFs offsetting $22.6B in GBTC outflows.

 for its DePIN project, aiming to improve on-demand physical goods production with decentralized technology. The network recently partnered with Sui and uses Walrus for decentralized storage. The 3DOS Points Program is live, allowing users to run a node for free and earn points, potentially leading to an airdrop. To participate, users need to register, verify their email, and connect to the network using a browser extension. Additional points can be earned through limited-time tasks.

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Lens launches mainnet with complete platform for building scalable socialfi apps

In this step-by-step guide, we dive into how overseas Chinese users can register and trade on Bybit, one of the leading cryptocurrency exchange with a fully localized interface.

Bybit is a top-tier cryptocurrency exchange with a fully localized interface. Users can easily navigate the platform and access a variety of trading options, including spot trading, 

 of up to 100x. The platform offers a user-friendly experience with streamlined order execution and robust risk management tools. We provide clear step-by-step guides, so even those who are just beginning their crypto investment journeys can trade with confidence and efficiency.

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 65 million users globally. Retail traders choose Bybit for its seamless and intuitive trading experience, while institutional clients rely on its deep liquidity and robust security framework. Recognized for its user-friendly interface, advanced trading features, and strong security measures, Bybit is a trusted platform for trading cryptocurrencies, gold, forex, and other commodities.

Chinese users residing outside mainland China can sign up on Bybit using their mainland Chinese ID or passport. It is important to note that Bybit does not permit trading in the Chinese yuan (CNY).

: Register using an email address or phone number. After registering, complete the identity verification process by providing the required identification documents. Once it is done, you will be prompted to fund your account.

Bybit offers multiple methods to fund your account:

Bybit's platform is fully localized for overseas mandarin users, offering a seamless trading experience.

Exploring other features for overseas Chinese users

Exciting events for overseas Chinese users

Bybit is committed to engaging with our users through a variety of innovative and rewarding events. One event that just ended is the 

, where participants earned points by completing a range of activities — from trading challenges to educational quizzes. These points could be redeemed for attractive prizes, including cash rewards and luxury items, such as a Mercedes-Maybach car. Look out for our next event in Q2 2025 for more exciting rewards.

 tailored to overseas Chinese users, offering exciting rewards to boost their trading experience.

Bybit offers a robust, secure and user-friendly trading platform to meet the unique needs of overseas Chinese users. Our fully localized interface, combined with a diverse range of trading options — from spot and derivatives trading to staking and savings — help our users participate with confidence in the crypto market. 

Moreover, our exciting events — such as our Mandarin livestreams and Fortune Rewards Festival — also enhance the overall trading experience by rewarding active participation. We remain dedicated to supporting our community through continual innovation and educational initiatives so that our platform evolves alongside global crypto trends. 

 so you can explore Bybit’s extensive features and join our upcoming events to elevate your trading journey.

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How to trade on Bybit for overseas Chinese users

While stablecoins and cryptocurrencies both utilize blockchain technology, their fundamental purposes and characteristics significantly diverge. Learn more.

Volatility is the one thing that traders both fear and adore. If you’re somewhat familiar with the crypto market, you’ll know that 

 can be a double-edged sword in the arena that is crypto trading. From dizzying highs to staggering lows, gains and losses can be made in an instant, thanks to the inherent volatility within the crypto space. Fortunately, digital assets such as 

 aim to mitigate this risk by providing a more dependable alternative within the crypto trading ecosystem.

 are, and that they’re typically used as a means to facilitate crypto trading, there’s certainly more than meets the eye with this type of pegged asset. From their unique role in decentralized finance (

) protocols to their place in the ever-changing regulatory landscape, this article will explore how stablecoins compare to other cryptocurrencies — and what awaits them in the future.

Stablecoins are digital assets designed to maintain a stable value by being pegged to an underlying asset, such as a fiat currency, commodity or basket of cryptocurrencies. 

Unlike traditional cryptocurrencies, which are generally volatile, stablecoins aim to provide price stability. This makes them particularly useful for facilitating trades, payments and remittances, and as a store of value during market fluctuations.

The stability of stablecoins also bridges the gap between traditional finance (TradFi) and 

. For example, sending money internationally using a stablecoin such as 

 avoids costly bank wiring fees and administrative delays associated with banks.

The mechanisms of each stablecoin peg vary depending upon their type.

Stablecoins thus offer a reliable medium of exchange in the volatile crypto market, making them increasingly popular among businesses and individuals alike.

In their broadest definition, cryptocurrencies are decentralized digital assets that use cryptography for security and operate on blockchain technology. 

Unlike stablecoins, cryptocurrencies derive their value from market dynamics, rather than being tied to an external asset. With the end goal of eliminating intermediaries such as banks, cryptocurrencies allow users to transact directly with one another in a 

 (P2P) fashion. This decentralization is a core principle of cryptocurrencies, one of many values that aim to empower crypto users with greater financial autonomy and control.

Popular cryptocurrency projects and their use cases

Some of the most well-known coins and tokens include the following.

These cryptocurrencies have diverse use cases, ranging from investment opportunities to powering blockchain ecosystems.

Unlike traditional stocks and equity, cryptocurrencies lack an external anchor for their value. Their prices fluctuate based on the factors listed below.

While this volatility presents risks, it also offers significant growth potential for investors willing to navigate these fluctuations strategically.

Stablecoins vs. cryptocurrencies: similarities and differences

You might be wondering why we’re comparing these two seemingly different asset classes. One is a bastion of price stability and certainty, while the other is primarily associated with volatility and speculation. While they both exist within the realm of digital assets and utilize blockchain technology, their fundamental purposes and characteristics diverge significantly. However, they also share certain commonalities that warrant a closer examination.

Shared characteristics between stablecoins and cryptocurrencies

At their core, both stablecoins and cryptocurrencies share foundational traits.

Stablecoins and cryptocurrencies both exist as digital assets, meaning they’re represented electronically and rely on digital infrastructure. This shared digital nature allows for fast, borderless transactions and integration with online platforms.

A significant portion of stablecoins and cryptocurrencies utilize blockchain technology. This shared foundation provides transparency, security and immutability.

While their degree of decentralization varies, stablecoins and cryptocurrencies can operate on decentralized networks. Cryptocurrencies such as Bitcoin are designed to be highly decentralized, with no central authority. Some stablecoins (like Dai) also strive for increased decentralization. However, many fiat-backed stablecoins are more centralized in nature.

Stablecoins and cryptocurrencies both have the potential to facilitate cross-border transactions without the need for traditional intermediaries such as banks. This can result in faster, cheaper and more accessible international payments, particularly for individuals and businesses in regions with limited access to traditional financial services.

Both stablecoins and cryptocurrencies play crucial roles in DeFi. They’re used for lending, borrowing, trading and providing liquidity on DeFi platforms, enabling users to access financial services without relying on traditional institutions.

Stablecoins and cryptocurrencies both utilize cryptographic techniques to secure transactions and ensure the integrity of their networks. Cryptography protects against unauthorized access, 

Ultimately, these shared features make both asset types attractive to individuals seeking financial independence from centralized institutions.

Key differences between stablecoins and cryptocurrencies

The primary distinctions between these two digital assets lie in their value mechanisms, functionality and overall adoption.

Stablecoins are specifically designed to maintain a stable value, usually by being pegged 1:1 to a fiat currency like the US dollar. This inherent stability makes them suitable for predictable transactions and as a temporary store of value. In contrast, other cryptocurrencies are typically characterized by high price volatility, driven by speculation, open market supply and demand and broader economic news. This volatility presents opportunities for profit, but carries substantial risk.

The primary roles of stablecoins are to serve as a stable medium of exchange within the digital asset ecosystem, act as a 

 against the volatility of other assets and facilitate trading and/or DeFi activities. Conventional cryptocurrencies often serve a wider range of purposes, including speculative investment, potential long-term store of value (like Bitcoin) or as the native token to power DApps and networks.

A fundamental difference between stablecoins and cryptocurrencies lies in determining how their values are maintained. Stablecoins rely on mechanisms like holding equivalent reserves of the pegged asset, or using algorithms to control supply and demand to sustain their link. Conversely, the values of other cryptocurrencies are generally determined by dynamic market forces, without a direct peg to external real-world assets.

Stablecoins are facing intense and increasing regulatory scrutiny worldwide, as exemplified by frameworks like the 

, now in effect, and ongoing discussions in the US, such as those potentially related to proposals like the previously discussed 

 (GENIUS) Act. Regulatory focus is primarily on reserve adequacy, issuer responsibilities and potential systemic risks. The regulatory landscape for other cryptocurrencies is more varied and fragmented across jurisdictions, leading to a complex global patchwork that continues to evolve.

Due to their design, stablecoins generally have lower volatility risk as compared to other digital assets. However, they carry distinct risks related to the reliability of their pegs, the solvency and transparency of the issuers and evolving regulations. On the flip side, cryptocurrencies carry high market risk due to their inherent price volatility.

By understanding these similarities and differences, individuals can make informed decisions about how to utilize these digital assets within their trading strategies.

When deciding between stablecoins and cryptocurrencies, there is no definitive answer as to which is better. Each serves a unique purpose, and their suitability depends upon your financial goals, 

 and intended use. To make an informed decision, it’s essential to weigh the trade-offs between stability and growth potential in order to gauge which works best for your long-term trading and/or investing objectives.

Evaluating stability vs. growth potential

Stablecoins and cryptocurrencies occupy opposite ends of the risk spectrum. Stablecoins are designed to minimize volatility, making them ideal for individuals or businesses seeking predictability in value. Their price stability makes them particularly useful for payments, remittances and storing value during turbulent market conditions.

On the other hand, cryptocurrencies like Bitcoin or Ether are inherently volatile, but offer significant opportunities for capital appreciation. Their value fluctuates based on market demand, investor sentiment and technological developments. For those willing to embrace risk in pursuit of higher returns, cryptocurrencies may be the preferred choice.

Ultimately, the decision hinges on your personal objectives and deciding whether you’re actively trading or focused on a long-term portfolio.

The future of stablecoins and their expanding role in finance

Stablecoins are increasingly seen as a crucial component bridging traditional financial systems and the burgeoning digital asset ecosystem. Their core function is to maintain a stable value, typically by pegging to reserve assets like fiat currencies or commodities. Considering that they’re expected to play a pivotal role in transforming global financial systems by merging the efficiency of digital currencies with the reliability of fiat money, here are some ways they may influence global finance.

Stablecoins and cryptocurrencies represent two sides of the same coin (no pun intended) within the digital asset ecosystem. While stablecoins offer reliability through price stability, cryptocurrencies provide opportunities for innovation and growth. Understanding these differences is essential for navigating the crypto space effectively.

As blockchain technology advances and global adoption grows, these two asset types will play complementary roles in reshaping finance. Whether you seek stability or growth potential, there’s no doubt that crypto is driving us toward a more inclusive financial future.

Intermediate

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Stablecoin vs. crypto: Balancing stability with growth potential

Bybit Learn

Options

Traders and investors love how the wheel option strategy offers you a road to long-term passive income. Find out how to execute it with our simplified guide.

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The wheel strategy (a.k.a "options wheel strategy") is a two-step "Buy Low-Sell High" income strategy used by stock options traders who sell cash-secured puts and covered calls in order to receive stock at a discount, and then sell at an above-market price. With just a few small adjustments, crypto traders can also benefit from this strategy.

An investor continually sells (writes) Out-of-The-Money (OTM) cash-secured puts to collect option premium.

If at the predetermined expiration date the option expires worthless, the writer keeps all the premium — repeating the process until a put eventually expires In-The-Money (ITM).

A put option expiring in-the-money (ITM) exercises automatically.

Unlike traditional equity options where a physical transfer of ownership takes place when exercising an option contract — Bybit's USDC crypto options are "cash-settled". Here, no position transfer takes place. Instead, the option seller's account is credited or debited to the associated cash (

The option contract expires at a settlement price of $19,000 and the seller's account receives a credit of +$1,000 USDC (

Strike Price - Settlement Price + Premium Received

At this point, the option seller enters the market and purchases one BTC, before moving to step 2 of the wheel strategy.

Now holding the underlying crypto asset, the investor sells out-of-the-money (covered) calls to generate a consistent income.

When a call option eventually expires in-the-money — there are two available options:

Sell the underlying crypto asset and return to Step 1 selling cash secured puts.

Keep the underlying asset and continue selling covered calls to generate income.

The most important factor when using the wheel strategy is ensuring your trading account has enough capital to cover the difference between the strike price and the settlement price if the option expires in-the-money. Here, the account balance guarantees the short put is "cash-secured".

Selling a put option is a high-risk strategy with limited upside (collected premium) and significant potential downside — the difference between the strike price and the settlement price, minus the premium received.

For this reason, the chosen strike price should represent a level you are happy to open a long-term position in the underlying asset.

When deciding which put option to sell, there are two main considerations:

If the goal is for the option to expire worthless (collect premium), selling a put with a strike price way below the current market price works better - the lower the strike price, the less chance the option will expire in-the-money. The trade-off is that option premiums decrease the further out-of-the money you go.

If the aim is acquiring the underlying crypto asset, choose a higher strike price you believe will expire in-the-money — ideally not by too much as to offset the amount of premium received.

Before deciding which maturity (expiration date) to sell, consider how the option premium changes over time. All options lose value (time decay) as the expiration date draws near. We can measure exactly how much value an option will lose by using Theta.

Theta is an options Greek measuring the rate an option premium declines over time - as an option moves closer to expiry, time decay speeds up — at expiration the option has zero time value.

A handy way to visualize theta is to imagine a snowball rolling down a mountain. At the top of the mountain, the snowball is small and moving slowly. As it rolls further down the mountain, it speeds up, growing larger along the way, until it reaches the bottom (expiration).

An option with a theta of -0.50 will lose $0.50 each day whereas an option with a theta of -2.00 will lose $2.00 per day. Theta is always represented as negative as it always has a negative effect on an option's price.

Theta is highest for At-The-Money (ATM) options (the strike price is equal to the current price of the underlying asset) decreasing when a strike price moves further into-the-money or out-of-the-money.

For best results, selling near-dated puts with between 30-40 (DTE) offers a good way to maximize time decay whilst not being tied to a less flexible longer-term contract.

In the same way the account balance "secures" the short put, the underlying asset provides the "cover" for the short call. For this reason, you must hold the underlying crypto asset while the short call contract is active.

When choosing which strike price to sell, consider the same factors used to determine which put to sell:

Similar to the put, selling a near-dated call option with between 30-40 DTE offers a good mix of value and flexibility.

Another useful metric to help decide which strike prices will work best when using the wheel options strategy is Delta.

Delta is the amount an option premium changes for every $1.0o change in the underlying asset. Call options have a positive delta ranging between 0 and 1 - whereas put options carry a negative delta ranging between -1 and 0.

For call options, the delta tells us how much the price will rise when the underlying asset ticks higher by $1.00 and how much the price will drop when the underlying asset drops by $1.00. This works in reverse for put options, which lose value when the underlying asset rises, and gain when the underlying assets fall.

Typically, an at-the-money call option will have a delta of - or close to 0.50, meaning the premium will +/- $0.50 for every $1.00 move in the underlying price.

Delta decreases as a call option moves further out-of-the-money (higher than the current market price), and increases when a call option moves deeper into-the-money (lower) — the opposite is true for put options.

Delta is simply the options markets' way of telling us the odds of a strike price expiring in-the-money.

All things equal, an at-the-money option has a 50% chance of expiring in-the-money, and thus is a 50/50 bet - whereas a 0.20/-0.20 delta has a 20% chance of expiring in-the-money.

Higher Delta = Higher chance of expiring ITM.

Lower Delta= Lower chance of expiring ITM.

The wheel option strategy is suitable for investors with a good working knowledge of options trading.

Because crypto options are cash-settled, traders must always remember to acquire the underlying asset when a short put expires in-the-money and sell (if that's the aim) when a short call expires in-the-money. For this reason, the wheel option strategy is best suited to more experienced options traders.

Sideways trending markets with wide trading ranges and clearly defined support and resistance levels (round numbers are often best) works great for the wheel strategy, giving you several ways to yield positive returns:

The below chart shows how you can profit from the wheel strategy:

The breakeven point is the price at which an options strategy is neither making nor losing money. Because the wheel strategy has lots of moving parts, we can't pinpoint a specific breakeven point - instead, we must look at each individual component to work out their respective breakeven points.

The breakeven point when selling a cash-secured put is when it expires in-the-money (below the strike price) equal to the amount of premium received.

Here, the breakeven for the put writer is $18,000. If the put expires at $18,000 their account is debited -$2,000 (

Because the wheel strategy involves acquiring an underlying asset and then selling calls against it, we must also factor in the price of acquiring the underlying asset into our calculation.

Typically, the option seller buys the underlying crypto asset when the put option expires. Choosing not to can impact profitability in three ways:

The writer purchases the underlying asset at the same level as the settlement price:

Settlement Price of $18,000 - Purchase Price of $18,000 - no change

The option writer purchases the underlying asset below the settlement price:

Settlement price of $18,000 - Purchase price $16,000 — a saving of $2,000.

The writer purchases the underlying asset above the settlement price:

Settlement Price of $18,000 - Purchase Price of $20,000 — a loss of $2,000.

Note: To reduce risk you should purchase the underlying asset immediately if the short put option expires ITM.

We can work out the breakeven point for a covered call by calculating at which point the premium no longer offsets a drop in the underlying asset when the option expires.

Assuming an investor acquires one BTC at $20,000, then sells an out-of-the money call option, collecting a $2,000 premium, the breakeven point is $18,000. Here, the $2,000 premium offsets the $2000 drop in the underlying asset.

The sweet spot of an options strategy refers to the optimal price at the expiration date. Just as a wheel options strategy has more than one breakeven point, it also has several sweet spots:

When selling a cash-secured put, the ideal settlement price is when the underlying is equal to the strike price. Here, the option expires worthless and the seller keeps the premium.

Similar to the cash-secured put, the sweet spot for a short covered call is when the option expires at-the-money (expires worthless). The seller keeps the premium, and assuming the call was out-of-the-money when sold, the value of the underlying asset will be higher.

One of the main advantages of trading options is their flexibility. Unlike trading spot or perpetual futures where the only choice is whether to keep the position open or close it, options traders have several ways to adjust their position during adverse market conditions.

Let's assume BTC is trading at $22,000 and an investor sells one BTC $20,000 put option with 40 days-to-expiry and receives a $2,000 premium, believing the price will be close to $20,000 at expiry.

Half way through the contract, now with 20 days-to-expiry, the investor becomes more bearish, believing BTC may trade down to $18,000 before the option's expiration date.

The underlying price has dropped $500 to $21,500 and the option premium is still $2,000 (the time-decay has offset the negative price movement of the underlying).

Here are some ways they can adjust the position to reflect their new, more bearish outlook:

Because the wheel strategy is multi-faceted, in theory, there are several ways for it to play out at maximum profitably:

To understand the potential losses when trading the wheel strategy, we need to break it down into two parts:

Wheel Strategy: A Long-Term Strategy For Consistent Income

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards