Bybit WSOT 2024 broke records with $100B in trading volume, over 77,000 traders and innovative events such as the DEX Wave. This recap dives into highlights, top performers and key stats.

The Bybit World Series of Trading (WSOT) is a premier global trading competition that continues to set new benchmarks in the crypto industry. WSOT 2024 saw record-breaking participation, with over 77,000 traders from 161 countries generating $100 billion in trading volume. 

This year’s event introduced features like the WSOT DEX Wave, tiered competition leagues and ROI reset options, making the competition more accessible and fair.

This article provides a detailed overview of WSOT 2024, including its highlights, innovative features and exceptional performances by individuals and squads. It also examines Bybit’s efforts to integrate traditional finance (TradFi) and 

 (DeFi) to push the boundaries of crypto trading.

 has become one of the world’s most prominent cryptocurrency trading competitions. Designed to celebrate trading excellence and foster a sense of community, WSOT attracts participants from across the globe who compete for prestige and significant rewards.

The 2024 edition of WSOT raised the stakes with a prize pool of up to 10,000,000 USDT, distributed across three competitive leagues tailored to traders’ capital size:

WSOT 2024 emphasized inclusivity with its structured tiers, enabling traders of all levels to participate. Coupled with advanced features such as ROI resets and strategic use of 

 (UTA), this year’s competition underscored Bybit’s commitment to innovation and fostering global engagement in crypto trading.

The Bybit WSOT has grown into the world’s largest crypto trading competition, showcasing exceptional trading talent and innovation since its 2020 inception. Each following year, WSOT has raised the bar with increasing participation, prize pools and charitable contributions.

Key highlights from past WSOT events include:

With each successive edition, WSOT has further cemented its place as a premier trading competition, combining inclusivity, high stakes and global community engagement.

WSOT 2024: Key Highlights and Records Broken

WSOT 2024 set new standards for crypto trading competitions, attracting worldwide participation and breaking multiple records. This year’s event highlighted the scale, inclusivity and competitive spirit of the global trading community.

WSOT 2024 redefined crypto trading competitions, merging innovation with inclusivity. The event’s record-breaking achievements, robust community engagement and impressive prize pools underscore Bybit’s commitment to elevating the trading experience.

With features like DEX integration and tiered competitions, WSOT continues to push boundaries, setting a benchmark for global crypto events.

WSOT DEX Wave: Expanding Into Decentralized Trading

Introduced at WSOT 2024, WSOT DEX Wave brought DeFi and web3 trading into the spotlight. This new segment allows participants to explore and engage with a variety of web3 projects, competing for the 1,000,000 MNT prize pool while navigating the growing 

Participants evaluated over 100 web3 projects, casting votes and contributing 120,000 voting points. The competition featured a fair weighting system, ensuring all projects received a balanced opportunity for recognition.

By engaging with real-use cases, traders not only demonstrated their skills but also gained deeper insights into emerging decentralized technologies.

DEX Wave introduced a new dynamic to WSOT, encouraging traders to bridge the gap between traditional trading and the decentralized market. By focusing on web3 projects, the event underlined the expanding role of decentralized platforms in the evolving crypto landscape.

With record-breaking participation and $100 billion in trading volume, Bybit WSOT 2024 set a new benchmark for crypto trading competitions. The event showcased Bybit’s commitment to innovation, fair competition and a seamless trading experience, solidifying its position as a leader in advancing the global cryptocurrency trading ecosystem.

Intermediate

wsot 2024.png

Bybit WSOT 2024 Recap: Record-Breaking Year

Phantom Wallet, with 7M monthly users, has integrated the Sui blockchain, marking its first support for a Move-based network and a significant step for Sui’s ecosystem. 

Daily Top Performer — Morpho Protocol (MORPHO)

The S&P 500 fell 0.19% as investors awaited the November jobs report, which may influence the Fed's anticipated rate cut. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 8.2%, with Bitcoin and Ether rising by 0.17% and 0.40%, respectively in the past 24 hours.

Today's top performer is MORPHO, which surged 54.0% following the launch of DeFi Saver's Automated Leverage Management for Morpho on Base.

Morpho Protocol (MORPHO), founded in 2021, is a decentralized Ethereum-based lending protocol that enhances crypto lending through a P2P order matching system. It allows customizable lending markets and features Morpho Vaults for various risk levels. Initially launched in 2022 with Morpho Optimizers for Aave and Compound, it later introduced Morpho Blue in 2024 for flexible lending markets. Morpho Labs continues to focus on developing Morpho while still supporting the original Morpho Optimizers. 

, enabling Automated Leverage Management. This includes Auto-Repays for unwinding and Auto-Boosts for leveraging up based on set threshold ratios. Users can configure their positions easily. The feature is available for several Morpho markets, such as cbETH/USDC, wstETH/USDC, and more, with additional markets to be added in the future.

Check Out the Latest Prices, Charts, and Data of 

Phantom Wallet, with 7M monthly users, has 

 the Sui blockchain, marking its first support for a Move-based network and a significant step for Sui’s ecosystem. This expands Phantom's multichain support beyond Solana, Bitcoin, and Ethereum, offering Sui users features like staking, swaps, and NFT storage across mobile and browser platforms.

Yesterday, BTC Spot ETF flows recorded a $148.8M outflow from GBTC, partially offset by a $145.0M inflow to non-GBTC funds, resulting in a net outflow of $3.8M.

" hints at a potential $FUEL airdrop happening earlier than expected, despite the Fuel points program running until January 2025. Speculation surrounds whether this refers to the airdrop or another development.

Beginner

2.png

Phantom Wallet Expands Multichain Support with Sui Integration

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.

BTC has finally surpassed the $100K mark, leading to increased bullish positioning in derivatives markets. This reflects strong sentiment and a desire for upside exposure in perpetual swaps and futures. Short-term implied volatility has risen as traders seek options to capitalize on the rally.

Please check out the report’s highlights.

BTC's successful breach of the $100K barrier has led to a noticeable return of perpetual swap markets to all-time high open interest levels, although the response has been somewhat muted. Earlier in the week, perpetual swap markets shifted their focus to ETH after BTC's repeated failures to break through $100K. While funding rates for both derivatives remained high and positive, open interest in ETH contracts increased at the expense of BTC positions prior to the breakthrough. Additionally, ETH trade volumes have constituted a larger-than-usual market share.

BTC Calls See No Significant Influx Post-$100K

The sudden rise in spot prices has triggered a sharp increase in demand for short-tenor options, as traders seek exposure to the upward movement. BTC's term structure inversion has driven short-tenor implied volatility levels above realized volatility. Although implied volatility for BTC is lower than that of ETH, open interest data shows that the influx of call option open interest in BTC markets wasn’t as significant as for ETH. Nevertheless, BTC's volatility skew remains strongly bullish.

ETH's options market showed the most bullish positioning ahead of the overnight spot move, while the perpetual swap markets for both major cryptocurrencies reflected strong positive sentiment. Open interest is heavily weighted toward OTM calls, signaling a robust preference for upside exposure as realized volatility starts to catch up to implied volatility. This demand for upside exposure is evident for both tokens, particularly with ETH's remarkable increase in call option open interest over the past 24 hours.

Advanced

block-scholes-x-bybit-report.jpeg

Bybit X Block Scholes Crypto Derivatives Analytics Report (Dec 5, 2024): After BTC Turns $100K, Investors Are Still More Bullish on ETH

The cryptocurrency market is experiencing unprecedented growth, particularly in major assets like XRP, Cardano (ADA) and Stellar (XLM).

The cryptocurrency market is experiencing unprecedented growth, particularly in major assets like XRP, Cardano (ADA) and Stellar (XLM), whose tokens have seen substantial price increases (XRP up 444%, ADA 280% and XLM 512%). This surge is being driven largely by aggressive accumulation from whale investors, as well as cautious but optimistic sentiment in the crypto community. 

Meanwhile, interest in meme coins is declining as investors shift focus to more sustainable projects. The integration of AI in blockchain ecosystems and the emergence of hyperliquid token generation events (TGEs) are also reshaping market dynamics, indicating a transformative phase for cryptocurrencies.

Significant Growth in Major Cryptocurrencies

The report highlights impressive price increases for several major cryptocurrencies:

Despite these gains, general sentiment in the crypto community remains cautiously optimistic.

 activity is a key factor in current crypto market dynamics:

Since mid-October, there’s been considerable accumulation of Bitcoin by whale wallets, which have added a total of 91,856 BTC. This accumulation has played a substantial role in driving up BTC’s price.

In contrast, there’s been a decline in stablecoin holdings among these wallets, suggesting a strategic shift toward investing in cryptocurrencies, rather than choosing to hold stable assets.

The following several emerging trends are reshaping the cryptocurrency landscape.

Overall, our report underscores a transformative period in the cryptocurrency market, characterized by significant asset growth, strategic whale behavior and the integration of advanced technologies.

Intro to Santiment.png

Whales Accumulate Bitcoin as It Reached $100K; Emergence of AI Agent

Bybit Learn

GameFi

Explore our article to find out what’s the Cipher Code for today’s Hamster Kombat’s Daily Cipher Code.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

Skinny_Banner-1600x400.webp

, where each day at 7PM UTC a new Morse code challenge beckons. These puzzles are more than just mental workouts; they're your ticket to earning significant rewards and honing your strategic abilities in this immersive digital arena.

The Daily Cipher is a central feature of 

, inviting players to decrypt a Morse code each day. Successfully cracking the code yields a generous reward of 1 million coins, boosting both your virtual wallet and analytical skills.

Today’s Hamster Kombat Daily Cipher: Sep 11, 2024

 Daily Cipher for Sep 11, 2024, is as follows:

 —   ••••   •—•   ••   •—••   •—••

Ensure each Morse sequence is entered with precision and slight pauses between letters to confirm correct execution and secure your reward.

Gain an early advantage by trading HMSTR tokens through Bybit’s Pre-Market Trading. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

Today's Daily Cipher, alongside various interactive gaming activities, not only increases your coin balance but also significantly enriches your gaming experience. Each puzzle you decode not only boosts your in-game funds but also sharpens your mental acuity, making every session both rewarding and intellectually stimulating.

Stay connected for ongoing updates and expert strategies to enhance your performance and ensure you remain competitive in the captivating environment of 

A Guide to Hamster Kombat's Daily Cipher Code (Sep 11, 2024)

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards