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.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

Advanced

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

NULS’s highly customizable blockchain infrastructure appeals to developers by offering features such as modular architecture and cross-chain technologies.

 project launches, one of the first questions it has to ask itself is, “Which chain should we build on?” The specific underlying blockchain technology that supports a 

 design makes a huge difference in the system's speed, reliability and flexibility. While Ethereum’s blockchain is a popular choice for developers, there are also some smaller chains that provide an even more developer-friendly environment. NULS has created a convenient and infinitely customizable blockchain that’s designed with developers in mind. Here's what you need to know about NULS and the NULS token.

 is a highly customizable blockchain infrastructure. It appeals to developers by offering features such as modular architecture, cross-chain technologies and high speeds. To make development on NULS as easy as possible, the blockchain offers a useful interface and a variety of tools.

The concept of NULS was first created by 

, who previously worked with the Chongqing TV & Science Educational Channel. To turn her dream into reality, Wang partnered with Jason Zhang, a software developer with a background in banking software, and Reaper Ran, a blockchain development enthusiast. 

This team officially founded their company in 2017. After creating the technology behind the system, the NULS team decided to hire Liesa Huang as their CEO. With Huang handling the business side of things, the NULS mainnet and token were launched in 2018. 

The NULS mission is to create a blockchain both by and for developers. As the web3 industry took off, the NULS team noticed that many blockchains were designed targeting investment instead of development. They wanted to create a system that was first and foremost for running other projects. Ultimately, NULS aims to be the blockchain ecosystem that businesses turn to when they want to create web3 projects, such as blockchain-backed rewards systems or blockchain-based games. To achieve this goal, NULS focuses on providing many developer-friendly features not found on other chains, including the following:

 a specific amount per verification, PoC consensus uses a large lump sum. Validators are required to stake a large pool of NULS tokens, which they receive back at the end of their validation period as long as they run the system correctly. However, validators receive yellow cards and/or red cards if they make mistakes or run out of computing power. Those who receive too many cards will have their assets frozen.

NULS then uses this underlying system to design a complex set of modules. The ecosystem runs as multiple chains, each one handling its own service. NULS includes a virtual machine for smart contracts, a cross-chain connection chain, a consensus module and more. This modular design allows developers to use and pay for only services that they actually need. 

The NULS platform is packed with features to help developers design exciting projects. Following are some of the key tools you'll encounter when you work with NULS. 

NULS ChainBox is the main development interface for the ecosystem. It includes six separate modules for a ledger, accounts, transactions, blocks, consensus and network. Since the easy interface guides users through each step and provides pre-made scripts for running programs, developers don't need any blockchain experience to work with ChainBox.

The SCO platform makes it easy for NULS community members to support NULS-based projects. Anyone who develops on the NULS chain can set up their system for staking. Stakers earn rewards in the form of the project's token, while the development team also earns NULS for helping to run their NULS project.

-compatible parallel chain. It runs as a 

 Ethereum chain that scales the network with better performance and lower gas fees. From ENULS, NULS developers can connect to multiple blockchain networks and transfer digital assets between Ethereum, BNB Chain, Optimism and other blockchains.

 styles for their users' convenience. They offer both a desktop wallet that connects straight to NULS, and a multichain wallet. The platform is also compatible with many third-party wallets, and has even ensured that people can stake NULS through them.

If you want to support the NULS blockchain and help it become an essential part of the blockchain space, staking is a great idea. Temporarily locking your tokens helps to run the NULS consensus mechanism, and also allows you to earn staking rewards. This is an easy way to obtain passive income from your NULS tokens.

NULS has spent the past seven years improving and refining its technology to meet market trends. The company started with a simple blockchain, but has slowly added more features like 

 development. NULS plans for 2024 primarily focus on optimization. For instance, the company hopes to fine-tune and improve its public service API, its automated market maker protocol and its documentation process. 

 also includes plans for more NULS community development. Each quarter, the company hopes to support the development of 10 new projects that can run on NULS. By 2025, NULS hopes to include a variety of 

 (DeFi) and GameFi apps that rely on the NULS blockchain.

NULS is the native token of the entire NULS ecosystem. In addition to its use in managing the chain’s consensus mechanism, NULS is also used for community governance and transaction fees. Each NULS token can be broken into 100 million smaller token pieces, called NA. NULS’s initial token supply of 100 million tokens was distributed to four separate groups as follows:

Like many other crypto startups, the NULS token experienced a huge price jump shortly after its airdrop. The coin reached an all-time high of $8.53 in 2018, and since then has gradually fallen below $1. In Mar 2024, NULS price went from $0.20 to $0.89 before decreasing back to $0.30. Its current price is $0.38 (as of Nov 28, 2024). Most people believe that moderate, positive growth is possible for the NULS token in late 2024.

 for NULS, but pricing data also supports this outlook. Analysis from CoinCodex suggests the price of NULS will rise to 

 by the end of 2025. NULS token prices are often closely linked to news from the NULS ecosystem, so every new project that launches on NULS and each new feature released on the NULS blockchain can contribute to price spikes.

Looking to trade NULS tokens? Bybit now offers NULSUSDT Perpetual contracts. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

NULS provides many unique opportunities for investors. The token is a good choice if you're a patient investor who likes holding onto coins for years, and selling when market conditions suddenly improve. In addition to its long-term growth, this coin is also experiencing some short-term fluctuations that might provide profit if NULS holders can time the market correctly.

Just keep in mind that NULS features more volatility than 

 like Bitcoin or Ethereum. It's probably not a reliable enough choice to become the main token in your portfolio, and market conditions will make a big difference in your potential profits. With this sort of token, it's essential to do a lot of 

 and follow standard risk-management best practices before making your final decision.

The NULS blockchain is a great example of how a specialized chain can improve the web3 space. By focusing on blockchain solutions for developers, NULS supports the development of new DApps and other web3 projects. Over the years, this blockchain has also done a great job of following market trends and providing continual maintenance for its users. If you're looking for a reliable crypto company to back, the 

Intermediate

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NULS (NULS): Efficient Blockchain Solutions for Developers

SOS Ltd. has announced plans to invest up to $50 million in Bitcoin (BTC), underscoring its commitment to expanding its blockchain and cryptocurrency investments.

Daily Top Performer — Ethereum Name Service (ENS)

The S&P 500 dropped 0.4% as investors took profits. Tech stocks led declines, and inflation data showed limited progress toward the Fed’s target. Markets now see a 34% chance of no Fed rate hike in December. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 5.46%, with Bitcoin and Ether rising by 6.20% and 9.42%, respectively in the past 24 hours.

Today's top performer is ENS, which surged 45.0% following the announcement of Namechain's vision for simplified, gas-free registration with faster transactions.

Ethereum Name Service (ENS), launched in May 2017,is a blockchain-based domain system on Ethereum, turning complex addresses into simple names, similar to DNS. It is secure, decentralized, and governed by its token holders. 

 on simplifying the registration process with key goals: enabling name registration from any L2 without connecting to Namechain, gas-free ETH payments, completing registration in a single transaction, and reducing wait times from 60 seconds to 10 seconds.

Check Out the Latest Prices, Charts, and Data of 

 plans to invest up to $50 million in Bitcoin (BTC), underscoring its commitment to expanding its blockchain and cryptocurrency investments. The decision comes as Bitcoin's price reaches historic highs, and SOS aims to leverage favorable market conditions, including improved U.S. regulations and growing institutional interest. The company will employ various quantitative trading strategies to manage this investment and optimize returns. SOS believes Bitcoin will play a significant role as a global strategic reserve asset, enhancing its long-term competitiveness and profitability in the digital asset sector.

Yesterday, BTC Spot ETF data showed a total inflow of $103 million, with $0 from GBTC and $103 million from non-GBTC sources.

 2000 points for verifying your uniqueness by scanning your face and minting it on the testnet. Use code 6de1553d if needed. Completing this task confirms you're non-sybil. New users can follow a detailed guide with screenshots 

Beginner

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SOS Ltd. Announces $50 Million Bitcoin Investment to Expand Digital Asset Strategy

Explore this article to find out how you can participate in Bybit Web3 Staking.

 can be both exciting and rewarding. If you’re wondering where to start so that you can 

, consider Bybit Web3 Staking. This relatively new addition to Bybit Web3 offers a seamless and user-friendly platform for those eager to embark on this journey. 

In this article, we'll guide you through the process of participating in Bybit Web3 Staking, ensuring you're well-equipped to maximize your crypto investments.

 is a platform that offers a convenient way to stake your tokens and generate earnings without the need to hop across different protocols or execute numerous transactions. 

Bybit Web3 Staking isn't just another staking platform — it's a holistic ecosystem tailored to enhance your crypto staking experience. Here's why it stands out.

In essence, Bybit Web3 Staking offers a blend of user-centric features, top-tier security and convenience, making it a compelling choice for anyone keen on maximizing their crypto returns.

How to Get Started With Bybit Web3 Staking

Now that you know more about Bybit Web3 Staking and why you should try it, here's a step-by-step guide to get you started. 

 before you can proceed with Bybit Web3 Staking. If you require any assistance in creating an account, please refer to our detailed 

tab in the navigation bar at the top left corner of the Bybit homepage. 

: After you’ve entered the Bybit Web3 Portal, hover your cursor over the 

tab in the navigation bar at the top of the page and click on 

: A pop-up window will appear. You can choose the wallet you wish to connect to (

button next to your preferred wallet. In this article, we’ll use the 

as an example. To connect to it, click on the 

button next to it, and enter your account details.

: After connecting your wallet, you can deposit funds by hovering your cursor over the 

page, you can view all available staking pools. Click on the 

 icon to adjust the display. You may arrange the pools according to 

: Click on your preferred staking pool to find our more information, such as:

: Input the amount you would like to stake, and click on 

: In the pop-up window, verify the details of your staking order. Please take note of the slippage and estimated cost, and click on 

: A pop-up window will appear to indicate that the transaction is being processed. Once the transaction is complete, you can view your transaction by clicking on 

Once you’ve successfully staked, the transaction details will be shown in

Your investment details, including the total yield accumulated, can also be found on the respective staking pool’s page.

On top of the base yield, some projects issue additional incentives. You may check your additional yields below.

The total value of your investments from all staking pools will also be displayed on the dashboard on the 

: If you’d like to unstake your holdings and claim your rewards, navigate to the 

: Select the pool you wish to redeem, and click on 

once you’ve confirmed that your details are correct.

: Confirm the redemption details, and click on 

 that the redemption process may take some time, and transaction details will be available under 

Bybit Web3 Staking offers a comprehensive and intuitive platform for crypto staking. Its user-friendly interface helps even those new to the world of staking to participate confidently and grow their investments. Whether you're a seasoned investor or just starting out, Bybit Web3 Staking is a reliable and efficient choice for your staking endeavors.

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How to Participate in Bybit Web3 Staking (Step-by-Step)

Bybit Learn

Altcoins

Kishu Inu is a dog-themed meme coin with a decentralized exchange (DEX), reward mechanisms and NFTs. Find out more about it in this article.

 and others have been popular in the crypto world for several years now. These digital currencies’ price fluctuations have proved to be tremendously lucrative for some investors and speculators. Kishu Inu is a relative newcomer to this space, but its native token has already made its way into thousands of investors’ crypto wallets. Let’s take a thorough look at this crypto token.

The Kishu Inu ecosystem consists of a liquidity pool established on 

, an NFT marketplace and a DEX. Via this platform, KISHU crypto tokens can be bought, sold and traded. They can also be earned through a staking mechanism. In addition, KISHU holders can create, buy, sell and exchange NFTs through its ecosystem. Its design is modeled closely after that of other popular meme coins, such as Dogecoin, 

However, Kishu Inu stands apart from other meme coins in several key areas, and was designed to accomplish a specific mission. Uniquely, its mascot is the Kishu dog breed. In addition, it distributes 2% of every transaction to its token holders. While this fee structure is unique to Kishu Inu, some other meme coins have a relatively similar mechanism. This strategy encourages users to hold KISHU tokens.

Kishu Inu launched in 2021 with a big splash. The meme coin’s launch was 

. Its founders and developers have remained anonymous, but there are hints about their identities on Kishu Inu’s social media accounts. After the meme coin’s first month, more than 100,000 token holders were active, with its market cap at that time exceeding $2 billion.

Comparatively, Kishu Inu is one of the smaller crypto tokens today. However, it’s already developed solid partnerships. For example, token holders can make travel plans at 

 also accepts KISHU payments. After establishing a relationship with the Bybit exchange, Kishu Inu became the first-ever meme coin to 

As a meme coin, Kishu Inu stands out with crypto users by having a legitimate purpose. Compared to some of its well-known predecessors, Kishu Inu brings newer concepts to the table and offers them to a mainstream audience. Its innovative features, aimed at achieving its purpose, include 

Kishu Inu promotes growth and development through its transparency and self-management style. While many meme coins may seem to simply be passing trends, this project focuses on maintaining its appeal through continued development and a better rewards system. It’s also been designed with security in mind: Its code is heavily audited and its crypto tokens are 

The KISHU token is an Ethereum ERC-20 token. It’s used for a decentralized usage rewards mechanism through which token holders receive an allocation of 2% of each transaction fee. Therefore, token holders can benefit from a regular stream of income. They can also create, sell, trade and buy NFTs, in addition to earning staking rewards and participating in a 

This meme coin project is more than just another dog-themed meme coin, thanks to its robust features and mechanisms. While the developers have taken inspiration from Dogecoin and others, they’ve focused on creating something that will appeal to the mainstream and that adopts the latest features and mechanisms. These features encourage users to hold their crypto tokens for a longer period of time — and also drive long-term appeal to investors. 

What are the unique features of Kishu Inu?

Kishu Inu is structured with a static rewards system. As mentioned, each time KISHU tokens are bought or sold, a 2% transaction fee is charged. The transaction fee is disbursed to the wallets of KISHU holders as a reward. The exact amount that each token holder receives is based on their percentage of the crypto tokens in circulation. Many meme coins are heavily traded as crypto users try to make a quick buck off of price fluctuations. This static rewards system, however, encourages KISHU token holders to keep and even grow their holdings over a longer period of time.

Kishu Inu functions with a DEX, known as Kishu Swap, which runs on Uniswap. The Uniswap DEX is well-known as one of the safest and largest currently in operation. Through Kishu Swap, token holders can exchange, buy or sell any of the many available ERC-20 crypto tokens.

, which will feature an all-in-one solution for swapping. Its users will be able to look forward to swapping between more than 16,000 tokens across 22 different blockchains, and enjoy the best rates with optimal routing and bridging systems.

Artists participate in contests within the Kishu Inu community, and the NFTs that they create are offered through Kishu Crate. Artists receive prizes for their efforts through the KISHU liquidity pool. Token holders can stake their tokens in Kishu Crate, and receive digital collectibles and NFT rewards in the process. The Kishu Inu community collectively votes on which digital art pieces should be made available to stakers through Kishu Crate.

Token holders can easily track their earnings, prizes and holdings through the Kishu Paw Print app. This easy-to-use app offers detailed stats on usage, and includes a price chart, the current U.S. dollar value of the user’s holdings, and more. In addition, crypto users can conveniently monitor their holdings without having to sit in front of a computer.

Kishuverse is one of the newest developments for the Kishu Inu project, with some aspects of it still in the works. It’s a centralized hub on which artists can mint their NFTs, created within the Kishu Inu platform. Until this part of the project is completed, crypto users can access the official 

. Today, these NFTs are available for purchase through the 

. NFT holders will have early access to the game, and may also receive various types of rewards in it.

To purchase these mystery boxes through Bybit, you’ll first need to 

. Once your account is created, transfer funds to your Spot account. When your account is funded, you can select your NFTs and finalize your purchase.

While Kishu Inu launched in 2021, it’s already progressed through four phases of development. The first phase was the actual launch. At that time, the goal was to have 2,000 holders and 2,000 Telegram members. Listings on CoinGecko and CoinMarketCap were also completed. 

The second phase was for growth, with the developers focusing on goals of 20,000 holders and 10,000 Telegram members. The website also was redesigned during this phase. 

During phase three — expansion — the decentralized Kishu Swap exchange was released. Participation grew to 30,000 holders and 15,000 Telegram members. In addition, initial CEX listings with Hotbit, Bilaxy and CoinTiger were completed. 

The last is the utility phase, which included growth to 100,000 holders and 50,000 Telegram members. Additional CEX listings were created, and the exchange was listed on 

. Paw Print, Kishu Crate and a listing on 

Kishu Inu is a community-driven, decentralized platform that functions with the Ethereum-based KISHU token. This token can be exchanged through the Kishu Swap DEX. It may also be used to purchase NFTs, and it may be earned with the Kishu Inu reward mechanism. KISHU can also be staked for additional incentives, and has passed a thorough security audit. There are 100 quadrillion KISHU tokens in circulation today. Its market cap is just over $38,987,000.

The current price (as of Dec. 9, 2022) of a KISHU token is $0.000000000396. Its price is volatile, and is affected by several key factors. One of these is its status as a meme coin. Meme coins have largely been used as short-term investments, which can drive significant price fluctuation in a short period of time. The token’s accessibility on leading trading platforms can drive interest and activity. Also, there’s growing interest in the decentralized finance (

) sector. Kishu Swap acts as a DeFi exchange, and trading activity may be elevated as a result.

It’s important to note that KISHU’s starting price in April 2021, $0.000000000069, peaked only a month later at $0.000000017547. The value then plummeted, only to shoot back up 1,900% by October 2021. However, between that time and August 2022, KISHU’s value dropped by 94%, which can most likely be attributed to overall bear market sentiment.

 for the end of 2022 is $0.0000000024. By the end of 2023, they forecast the token’s price may reach $0.0000000038 and, looking farther ahead, $0.0000000073 in 2025.

Buying any type of cryptocurrency is speculative at the moment. However, a stockpile of KISHU tokens can currently be purchased for a few cents, so the risk of making a modest investment is truly negligible. The value of a KISHU token is currently far off its peak, and there’s a possibility that it may decline further. 

However, if this happens, the loss may be minimal. On the same note, if the value skyrockets, you may stand to gain very little over the next several years. Nonetheless, there’s a great opportunity to make a profit through token value appreciation and rewards if you intend to make a long-term investment.

Kishu Inu has progressed successfully through its four phases of growth and development. At the same time, more than 100,000 crypto users purchased KISHU during its first month, and that number has continued to grow. In addition, the social media platforms for Kishu Inu have hundreds of thousands of followers. There’s considerable interest in Kishu Inu, and that interest may grow over time. Its marketplace has specifically been designed to have longer staying power than other doge meme coins, and its unique features and upcoming developments may contribute to its continued popularity.

Kishu Inu has specifically been developed using the best traits of popular meme coins, but its development has also centered on creating features and mechanisms that encourage long-term investments. Given KISHU’s extremely low price today, the cost to get started is minimal, and could prove to be lucrative down the road.

Kishu Inu (KISHU): The Next Meme Coin With Growth Potential?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards