Ethereum surged 29% this week, breaking a 10-week downtrend and catching short sellers off guard with $400M liquidated. 

The S&P 500 extended its rally with a nine-day winning streak, its longest since 2004, as optimism over potential trade deals and upcoming Fed and earnings updates lifted sentiment. Gold rose to $3,245 on trade uncertainty and Fed rate cut hopes. CoinDesk Indices, which tracks the broader crypto market, fell 1.50% in the past 24 hours, while Bitcoin and Ether dropped 0.10% and 0.51%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AI16Z, which surged 7.0% after Bonsai's smart media protocol integrated with Eliza to empower agent-driven social content creation.

elizaOS (AI16Z), launched in October 2024, formerly ai16z, is a Solana-based DApp that uses a DAO and an AI agent, "Marc AIndreessen," to manage community-driven investments in tech and crypto projects. 

, lets developers create agent-driven social media scripts and templates using ElizaOS plugins. The Bonsai Client, its first implementation, enables easy deployment of these smart media agents on platforms like Lens. Builders can explore these tools and compete for prizes in the Lens Spring Hackathon.

Check out the latest prices, charts, and data of 

Ethereum surged 29% this week, breaking a 10-week downtrend and catching short sellers off guard with $400M liquidated. Despite muted ETF flows and neutral derivatives sentiment, ETH’s dominance remains unshaken—boasting $64B in TVL, dwarfing Solana, BNB Chain, and Tron combined. With fresh momentum from the recent pectra upgrades and Trump distancing from rival altcoins, all eyes are now on a potential push toward $2,700. 

BTC spot ETFs saw $920.9M in net inflows this week, driven by $1.09B into non-GBTC funds despite $171.5M outflows from GBTC. Since inception, total net inflows stand at $41.1B.

 are now live and claimable as a small bonus for users farming the upcoming Aster (AST) airdrop. By depositing BNB to mint asBNB, users can start earning points toward both the main airdrop and future ecosystem rewards. Optional perp trading can boost points further, but simply holding asBNB is enough to qualify.

Beginner

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Ethereum outperforms with a 20% rally as fresh capital flows in and undervaluation signals flash

Our monthly report delves into insights from options volatility to inspire your next crypto move.

: April 2025 saw BTC's implied volatility surge above 75% due to tariff chaos, but it collapsed to 35% within a week, indicating a surprising short-term drop in volatility expectations despite ongoing macro uncertainty.

: BTC's return above $100K was met with muted enthusiasm in the derivatives market, suggesting that 

traders no longer view this level as a significant psychological barrier, and the rally isn’t likely to be sustained.

: ETH significantly outperformed BTC with a 23% rally, leading to increased demand for short-dated calls and a positive shift in the options market, highlighting renewed bullish sentiment.

: Historical trends suggest a potential summer lull in volatility in store for BTC, raising questions about whether this pattern will repeat in 2025 amidst ongoing macroeconomic challenges.

Bitcoin’s volatility plunges in late April

April 2025 witnessed significant volatility in the cryptocurrency market, particularly influenced by US trade policies. As President Trump announced steep reciprocal tariffs, the crypto landscape experienced sharp fluctuations. Bitcoin (BTC) initially demonstrated resilience, despite widespread sell-offs in equities and the US dollar, only to succumb to a decline from $88K to $75K by early April. This period was characterized by a dramatic rise in implied volatility that peaked above 75% as traders sought protection through short-dated puts. However, as the tariffs faced moderation, implied volatility plummeted to 35% by mid-April, marking the lowest level since early March.

Interestingly, while short-tenor volatility collapsed, 

the back end of BTC's term structure remained elevated, signaling that market participants expect heightened volatility in the mid-term

. Amidst this backdrop, realized volatility fell below the five-year seasonal average, paralleling similar trends in previous years and suggesting a 

. The historical pattern contrasts that BTC often experiences a rebound in volatility heading into May, raising questions about whether this trend will persist.

Subdued derivative response suggests Bitcoin rally might not endure

The market's reaction to BTC's resurgence above the $100K threshold was notably subdued compared to previous instances. While BTC rallied 20% following the initial tariff sell-off, the derivatives market displayed a muted response. The 25-delta put/call skew, a measure of market sentiment, indicated only a slight bias toward out-of-the-money calls, contrasting sharply with sentiment previously when BTC first breached the $100K mark in December 2024. This lack of exuberance suggests that traders no longer view $100K as a significant inflection point, raising concerns about the sustainability of the rally. 

Meanwhile, funding rates and implied volatility — though still bullish — didn’t reach the extremes observed in earlier months, indicating more cautious market sentiment. The relationship between BTC's spot price and implied volatility suggests that although traders are optimistic, they’re waiting for BTC to approach previous all-time highs before adjusting their volatility expectations.

Ethereum's option data points to further rally

In stark contrast to BTC, Ethereum (ETH) displayed remarkable resilience and outperformed major cryptocurrencies, gaining 23% overnight following favorable trade news. This rally catalyzed a surge in demand for short-dated calls, pushing front-end volatility expectations significantly higher. The response from the derivatives market was robust, inverting the term structure and indicating renewed bullish sentiment toward ETH, even as it’s trading well below its all-time high.

The ETH options market exhibited a shift from neutral to slightly negative skew, to a 10% bias favoring out-of-the-money calls, reflecting the market's confidence in ETH's potential to regain lost ground. Despite overall macroeconomic uncertainty, the demand for ETH options suggests that traders are optimistic about Ether’s future price movements.

In conclusion, April 2025 highlighted the complex interplay between macroeconomic factors and cryptocurrency market dynamics. While BTC faced challenges in eliciting strong responses from derivatives markets upon recrossing the $100K threshold, ETH's performance indicated a divergence in market sentiment. As traders navigate the evolving landscape, the potential for seasonal volatility patterns and the influence of macroeconomic developments will remain critical factors in shaping future market expectations.

Advanced

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Bybit X Block Scholes options volatility report (April 2025): Data suggests Bitcoin rally might not endure, but Ether sees further upside

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.

After mostly trading sideways at the end of April 2025, a US-UK trade deal sparked a crypto rally. BTC surged past $100K for the first time since February, but it’s ETH's performance that captured the derivatives market's attention. 

A 23% increase in ETH's spot price led to an inverted term structure and a spike in front-end volatility. The put/call skew for ETH shifted from a bearish bias to a nearly 10% skew toward OTM calls. Other sentiment indicators, such as perp funding rates and futures yield, also supported the rally. In contrast, while BTC's funding rates and skew have increased, its implied volatility remains low at 40%, over 30 points below ETH's 7-day implied volatility.

Please check out the report’s highlights.

ETH’s record performance since 2021 was propelled by positive term structure

ETH has significantly outperformed BTC and the top 10 cryptocurrencies, marking its largest single-day gain since May 2021. The options market has reflected this enthusiasm, with implied volatility for short tenors rising sharply and inverting ETH’s term structure, thus contrasting with BTC's muted, positively sloped structure. The 7-day tenor for ETH is now trading at a 33-point premium over that for BTC. 

While puts dominate BTC's open interest, ETH is seeing the opposite trend. On May 8, 2025, options volumes surged over $120M, more than double the typical monthly volume, with $60M more in calls than puts. ETH now boasts a positive futures curve and funding rates, as well as a strong skew toward OTM calls.

ETH sees exceptionally bullish put/call skew

ETH's substantial outperformance in the current crypto rally has led to bullish sentiment in its derivatives markets. Funding rates have surged, futures yields are strongly positive and the put/call skew has shifted significantly toward OTM calls, now close to 10%. This starkly contrasts with early April, when the skew was 20% toward OTM puts. Although ETH has underperformed (relative to BTC and other "ETH killers"), it has rebounded in this rally, with the ETH/BTC ratio rising after spending most of the year declining.

Open interest for Bitcoin options increased, with implied volatility remaining suppressed

The announcement of the new US administration's first trade deal, nearly 30 days into Trump's 90-day tariff pause, jolted crypto markets, pushing BTC back up above $100K. Surprisingly, implied volatility has remained suppressed, failing to invert BTC's term structure, with front-end volatility trading at around an 18-month low of 35-40%. On May 8, 2025, options volumes surged, with call volume reaching $189M, reversing last week's trend of higher put volumes. Meanwhile, open interest rose steadily to exceed $300M, the highest level this month, but remains significantly larger for puts than for calls despite the price increase.

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Bybit X Block Scholes crypto derivatives analytics report (May 9, 2025): Ether’s put/call skew turns remarkably more bullish than Bitcoin’s

This article explores how Sign works, its flagship products (such as TokenTable, SignPass and EthSign), its native token (SIGN) and how to trade SIGN on Bybit.

Sign is an omnichain attestation infrastructure that empowers users and developers to verify real-world claims on-chain. Built for a more transparent and decentralized future, it eliminates the need to “just trust” and enables everyone to verify with cryptographic proof.

This article explores how Sign works, its flagship products (such as TokenTable and EthSign), its native token (SIGN) and how to trade SIGN on Bybit.

 is an omnichain attestation protocol designed to make it easy for anyone to verify the authenticity of any claim — 

. Whether it’s a document, credential or user identity, Sign transforms traditional trust models into verifiable, cryptographic attestations. 

Sign’s mission is to replace outdated, opaque validation systems with transparent, 

 proof — enabling a future where “verify” replaces “trust.” Through tools like schema registries and digital signatures, Sign empowers users to bring accountability and integrity to digital interactions.

Sign is developed by the team behind EthSign, a 

-native e-signature and agreement platform. Its core team brings deep experience in 

 development and cross-chain integrations.

The project is backed by top-tier investors, including Sequoia Capital China (now known as HongShan Capital Group), Mirana Ventures, HashKey Capital and Hack VC.

This strategic funding positions Sign as a foundational layer in the web3 infrastructure stack.

Sign allows users to create attestations — cryptographically signed statements that prove the validity of claims, such as credentials, achievements or actions. These digital proofs can be verified by anyone at any time, making them tamperproof and transparent.

Sign’s key technical elements include a schema registry that ensures consistent data formatting, digital signatures proving authenticity, and on- and off-chain attestations with support for revocation or updates

This system acts like a programmable layer for web3, bringing a new level of trust to identity, credentials and data exchange.

TokenTable is Sign’s flagship token distribution platform. It helps projects unlock, distribute and manage tokens transparently and securely at scale.

It uses Sign’s attestation engine to verify token unlocks, 

 and vesting schedules, ensuring traceable, auditable token flows.

SignPass is a blockchain-based identity solution that brings real-world credentials on-chain. One notable implementation is the Sierra Leone PR Card, used for the world’s first government-approved on-chain permanent residency program.

SignPass offers encrypted on-chain records for easy 

 verification, physical ID issuance for daily identity use and streamlined digital application systems for cross-border access.

It showcases the way blockchain can modernize public sector services worldwide.

EthSign is a decentralized contract signing platform that lets users create, sign and store legally binding agreements directly on-chain. It removes intermediaries and ensures documents are immutable and accessible.

EthSign reinforces Sign’s mission by bringing traditional documentation into the realm of verifiable web3 attestations.

The SIGN token is the native utility token powering the Sign ecosystem. It’s used for:

The total supply is capped at 10 billion SIGN, with 1.2 billion tokens in circulation. While the fully diluted valuation (FDV) sits above $746 million as of May 7, the circulating market cap is approximately $89.6 million. SIGN continues to gain traction across exchanges and developer networks.

SIGN is available for trading on Bybit via Spot trading and as a USDT Perpetual contract. Bybit offers up to 75x leverage for the SIGNUSDT Perpetual contract and supports secure, high-liquidity spot trading.

Start exploring the future of attestations with SIGN on Bybit today.

Intermediate

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Sign (SIGN): Web3 protocol for trustless attestation

Memes

Looking for the best Solana meme coins? This article delves straight into the diverse universe of Solana-based tokens, highlighting the largest meme coin and others that are hitting the mark with investors. Discover the leading meme coins that have gained traction for their virality, promising economics, and strong community support. We’ll provide you with all you need to know about the ones that stand out and why, without overwhelming you with jargon or speculation.

Solana’s blockchain has become a fertile ground for the sprouting of meme coins, including the solana based meme coin, nourished by its robust infrastructure and swift transaction capabilities. The meteoric rise in adoption by both savvy investors and institutions has cultivated an ecosystem ripe for the emergence of these cultural tokens, including the top Sol meme coins. One such example is a Solana meme coin called Solvation, the best Solana meme coin that epitomizes this new wave, aiming to capture the hearts of the community while making waves in the crypto market with its irreverent charm. As the biggest Solana meme coin, it has garnered significant attention and investment.

The allure of sol meme coins, also known as Solana meme coins, is undeniable, and some might even consider them the best meme coins out there. Their unique blend of humor, community spirit, and the potential for financial reward has attracted a growing audience. These coins are more than just digital curiosities; they’re a testament to the Solana community’s creativity and the increasing appetite for alternative investments in the crypto space.

As we venture deeper into the Solana ecosystem, let’s spotlight 11 top Solana meme coins that have caught the attention of investors and enthusiasts alike. Each coin offers a distinct flavor of fun and potential for growth, from the quirky to the downright adorable. Whether you’re looking to diversify your portfolio or simply indulge in the playful side of crypto, these are the must-have picks to keep an eye on.

Dogeverse steps into the spotlight, amassing an impressive $9 million during its presale and signaling strong market potential. This Shiba Inu-themed meme coin has garnered significant attention, perhaps due to the canine’s iconic status in the crypto space. Investors are intrigued by the promise of Dogeverse, eager to see if it will follow in the pawprints of its meme coin predecessors and embark on a bullish run.

The excitement around Dogeverse is palpable, as the crypto community anticipates how this new entrant will perform in the market. Will it become as ubiquitous as its Shiba Inu muse, or will it carve its own unique path? Only time will tell, but the early success of its presale suggests that Dogeverse has captured the hearts—and wallets—of many.

Slothana – Slow and Steady Wins the Race

Slothana, a sloth-themed entrant in the meme coin race, adopts a philosophy that is as relaxed as its mascot: slow and steady growth. With a unique airdrop format post-presale, Slothana caters to a broad investor base, distributing 50% to presale investors, 30% to socially active users, and 20% to Noctis token holders. This strategy embodies a commitment to community and rewards early supporters, reinforcing Slothana’s position in the market.

The appeal of Slothana extends beyond its novel approach to token distribution. The meme itself resonates with a universal theme, striking a chord with anyone who has ever felt bogged down by the sluggishness of daily life. As a result, Slothana has the potential to go viral, driving further growth and engagement within the solana meme coin space.

BONK – An Ultra-Popular Choice with Massive Adoption

Enter BONK, a meme coin that stands out for its practical utility and widespread adoption in the solana ecosystem. Its key features, including BonkSwap, BonkDex, and BonkVault, have contributed to its rapid growth and popularity among investors looking for an attractive option. BONK’s utility extends into the DeFi space, play-to-earn games, and other emerging Web3 applications, providing token holders with diverse opportunities to use and grow their investments.

As a testament to its potential, BONK has seen a surge in usage, signaling that it may become a cornerstone within the Solana network in the near future. Its ability to provide tangible benefits to its users sets BONK apart from many other meme coins, suggesting a bright future for this particular token.

Dogwifhat – A Trendsetter in the SOL Meme Coin Space

Dogwifhat, not to be confused with the previously mentioned WIF coin, emerges as another trendsetter in the SOL meme coin arena. With a market capitalization exceeding $218 million, Dogwifhat has quickly become a force to be reckoned with among its peers. The brand identity of this coin is undeniably strong, with a Shiba Inu in a pink-knitted hat at its center, capturing the hearts and wallets of the crypto community.

The developers have announced the introduction of a hat generator feature, promising to elevate the interactive aspect of Dogwifhat to new heights. This feature is anticipated to further cement Dogwifhat’s position as a pioneer and trendsetter in the meme coin space, offering an engaging experience for its holders.

Book of Meme – Unleashing Creativity with Meme Generation

Book of Meme stands as a testament to the fusion of meme culture and blockchain technology, offering a canvas for cultural preservation and creative expression. This coin goes beyond the typical meme token, aiming to create a decentralized platform where creativity and digital assets intersect. As the name suggests, Book of Meme may become the anthology of the crypto world, documenting the evolution of meme culture in the digital age.

The concept of Book of Meme excites those who are both cryptocurrency enthusiasts and cultural connoisseurs. It represents a unique niche in the meme coin market, offering a new avenue for artistic expression within the Solana network.

Cat in a Dogs World – Feline Power in a Canine-Dominated Market

In a canine-dominated marketplace, Cat in a Dogs World emerges with feline finesse, boasting a market cap that surpasses half a billion dollars. This token has clawed its way up the ranks, demonstrating that there’s room for cats among the dogs of the crypto space. With such a substantial financial footprint, Cat in a Dogs World has quickly piqued the interest of investors looking for the next big thing.

The success of Cat in a Dogs World may well signal a shift in the meme coin landscape, where diversity is celebrated, and every animal has its day. This coin’s rise to prominence is a reminder that, in the crypto world, innovation and a fresh take can lead to remarkable outcomes.

$WEN – Poetic Potential in a Fractionalized NFT

$WEN coin offers a unique twist in the meme coin genre as a fractionalized NFT poem, tapping into the poetic potential of the crypto space. Wen has distinguished itself with a market cap nearing $100 million, a testament to its allure as a digital asset. The coin’s strategic distribution approach, which saw 70% of its fixed supply airdropped to Jupiter users, illustrates a commitment to equitable token distribution.

This approach led to Wen’s tokens being spread across over a million wallets, showcasing the project’s potential for widespread adoption and interest. As a result, Wen stands as a beacon of innovation in the Solana meme coin space, offering a unique blend of artistry and investment.

Solama – Llama-Themed Fun with Supply Burns and Play-to-Earn

Solama enters the fray with a llama-themed branding strategy that distinguishes it from other meme coins, tapping into the subculture of llama enthusiasts for a unique market appeal. The coin’s active social media presence fosters a tight-knit community, building a strong network effect that can drive its growth and popularity. Strategic supply burns, announced with fanfare to the Solama community, add an element of excitement and anticipation, which can positively impact the coin’s value.

The introduction of a play-to-earn game further elevates Solama’s attractiveness, linking gaming achievements with financial rewards through the conversion of game earnings into Solama coins. This deflationary model, combined with an engaged community and a play-to-earn gaming utility, positions Solama as an enticing option for both the gaming and investing communities.

Slerf – From Accidental Fame to Strategic Partnerships

Slerf’s entry into the meme coin market was marked by an unexpected event: the accidental burn of $10 million worth of tokens during its presale. This incident catapulted Slerf into the limelight, and the coin has since leveraged its newfound fame to forge strategic partnerships that promise to stabilize and broaden its market presence.

The buzz around Slerf demonstrates the unpredictable nature of the meme coin market, where even unplanned occurrences can lead to notoriety and opportunity. Slerf’s roadmap, now enriched with alliances, could lead to a solid foundation for growth and longevity, turning an accident into an asset.

Cuck – A Soaring Newcomer with a Cat-Duck Hybrid

Cuck, the latest addition to the Solana meme coin family, has made an impressive debut with a cat-duck hybrid character serving as its charming mascot. Upon its launch, Cuck experienced a meteoric rise, with gains of 50% in the first day of trading, signaling strong market enthusiasm for this quirky newcomer. The blend of feline and avian features in its branding has captured the imagination of the crypto community, and forums are abuzz with conversations about this unique meme coin.

The soaring success of Cuck in its initial trading indicates a fertile breeding ground for innovative meme coins on the Solana network. With such a strong start, investors are watching closely to see if Cuck can maintain its momentum and secure its place among the top meme coins on the market.

Factors to Consider When Choosing Solana Meme Coins

Selecting Solana meme coins for your portfolio is not just about following the herd; it’s about strategic consideration of several key factors that could spell the difference between success and disappointment.

The key factors to consider when selecting Solana meme coins are:

By considering these factors, you can make informed decisions when selecting Solana meme coins for your portfolio.

In assessing these coins, one must heed the endurance of a meme coin, which is shaped by market conditions and the robustness of community support. Investors are encouraged to ground their expectations in reality, as the likelihood of replicating the astronomical gains of few meme coins is slim. Conducting due diligence to verify the legitimacy of multiple meme coins is crucial, as it helps safeguard against fraudulent activities that prey upon the uninformed.

Advantages of Investing in Solana Meme Coins

Investing in Solana meme coins comes with a host of advantages, including:

These advantages make it tempting to buy Solana meme coins, as they become an attractive investment option.

Decentralized exchanges on Solana, such as Jupiter and Raydium, further sweeten the deal for investors with their high liquidity and minimal fees. These advantages make buying and selling meme coins on the Solana network not only convenient but also cost-effective, allowing investors to maximize their potential returns.

Risks and Challenges of Solana Meme Coin Investments

However, the allure of Solana meme coins comes with its share of risks and challenges. The market for meme coins is notorious for its volatility, with values often driven by social media buzz rather than fundamental financial metrics. The prevalence of pump-and-dump schemes poses a significant threat, where prices are artificially inflated followed by a precipitous crash, potentially leaving investors with substantial losses. The expertise of the coin’s creators—or lack thereof—can also be a determining factor in a project’s success; inexperienced developers can make critical errors, and anonymity can hide fraudulent intentions.

Presale investments, while tempting, carry their own set of risks. Investors are drawn to the promise of getting in early, but the danger of developers conducting a ‘rug pull’—exiting the project abruptly with the funds—cannot be ignored. As with any investment, due diligence is paramount. Understanding the project’s roadmap, team, and community engagement can help mitigate these risks and guide investors towards more secure meme coin choices.

Strategies for Successful Solana Meme Coin Investment

For those intent on navigating the tempestuous waters of Solana meme coins, a few strategies can help in charting a course for success. Diversification is key; investing across a spectrum of new meme coins, rather than placing all bets on a single coin, can spread the risk and potentially buffer against losses. Recognizing that meme coins are largely driven by sentiment rather than utility, investors should keep a close eye on market trends and community sentiment to time their investments wisely.

Risk management should be a cornerstone of any meme coin investment strategy. This involves not only assessing the market’s pulse but also being clear about one’s investment horizon. Are you looking for a quick trade to capitalize on a surge in popularity, or are you in it for the long haul, ready to weather the market’s volatility? Deciding on this upfront can guide investment decisions and help maintain a level head amidst the hype.

Solana meme coins present a unique fusion of culture, technology, and investment potential that is hard to ignore. From the lightning-fast Solana network to community-driven projects like Dogwifhat and BONK, these coins offer a diverse range of opportunities for savvy investors. However, as with any frontier, there are risks to be navigated and strategies to be employed. By considering the factors outlined, understanding the advantages, and recognizing the inherent risks, one can approach Solana meme coin investments with a balanced perspective. May your journey through the meme coin cosmos be both profitable and enjoyable.

What makes Solana an attractive blockchain for meme coins?

Solana is an attractive blockchain for meme coins due to its ability to handle thousands of transactions per second, low transaction fees, and scalable, performance-oriented environment for developers and investors. This makes it a promising platform for meme coin projects.

How can I evaluate the potential of a Solana meme coin?

To evaluate the potential of a Solana meme coin, consider factors such as price potential, meme virality, market momentum, community engagement, and overall market conditions, while also verifying the legitimacy of the coin. These factors will help you make an informed decision.

What are some risks involved in investing in Solana meme coins?

Investing in Solana meme coins carries risks such as high market volatility, pump-and-dump schemes, potential scams due to inexperienced or anonymous developers, and the danger of presale 'rug pulls'. Be cautious when considering these investments.

How can I mitigate the risks when investing in meme coins?

To mitigate risks when investing in meme coins, diversify your investments, stay informed about market trends, have a clear investment horizon, and conduct thorough research on any project before investing. This is essential for managing potential risks.

Are there any advantages to investing in meme coins despite the risks?

Investing in meme coins on the Solana network can offer advantages like high liquidity, low transaction fees, and potential for fast price gains driven by community support and market trends. These factors can make meme coin investment attractive despite the risks involved.

Top 10 Solana Meme Coins in 2024

Compete for 2,500 USDT USDT Every Week

Top 10 Solana Meme Coins in 2024

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards