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

Task: Stake in USDX Stake or Stake Through Restake

 for gas fees. For other networks, use the appropriate gas token and compatible assets.

button on the top right corner of the page to connect your 

Congratulations! You’ve successfully staked your tokens and earned 1.25x Pell Points and 1.5x USDX Points.

Complete all the tasks to grab a share of the 210,000 PELL prize pool!

Option 2: Stake via Restake (BNB Smart Chain)

button on the top-right corner of the page to connect your 

as an example. Click on the pool’s corresponding 

: Enter the amount you want to restake (minimum 

Congratulations! You’ve successfully restaked your tokens and earned 1.5x Pell Points. Complete all the tasks to grab a share of the 210,000 PELL prize pool!

You can view your staked amount and earned points in the 

If you require any assistance, you can join the Pell community for support.

Beginner

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How to Complete Pell Tasks for Bybit Web3 Airdrop Arcade

XION has launched its $12.6M Anti-Grant Grant Program in collaboration with Thrive Protocol to support high-caliber app developers.

The S&P 500 closed flat Friday as investors await the Fed's policy decision and PMI data, with tech stocks leading recent gains amid broader market stagnation. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.87%, with Bitcoin and Ether rising by 0.19% and 0.20%, respectively in the past 24 hours.

Today's top performer is CoW, which surged 52.8% following the launch of CoW Swap and CoW Protocol on Base, offering gasless trades and MEV protection.

CoW DAO (COW), founded in 2022, is a decentralized platform that enhances trading efficiency and security. Its main products are CoW Protocol, which finds the best trade deals using decentralized solvers; an MEV blocker to prevent exploits; and CoW AMM, a DEX that protects liquidity providers from arbitrage losses. The platform aims to safeguard DeFi traders from common security risks. CoW DAO has 

 CoW Swap, CoW Protocol, and soon CoW AMM on the Base blockchain, offering gasless trades, MEV protection, and competitive pricing. CoW Swap aggregates liquidity from multiple sources for optimal execution and provides advanced order types. This deployment enhances security and efficiency for Base users, with future plans to introduce more products, including CoW AMM for LP protection and diversified pools.

Check Out the Latest Prices, Charts, and Data of 

 in collaboration with Thrive Protocol to support high-caliber app developers. Unlike traditional Web3 grant programs, this initiative features a strict selection process, decentralized validation, and a unique "Wall of Shame" to prevent mercenary developers. The program offers repayable grants up to $25,000 for each project, with funds released upon meeting key milestones. It aims to back serious entrepreneurs creating impactful apps on XION’s walletless blockchain, which offers scalability and a seamless user experience. Accepted applicants receive ongoing support, including incubation, technical resources, and access to a large user base and strategic partners.

From December 9–13, 2024, BTC Spot ETF flows totaled $2,167.1M, with GBTC recording outflows of -$221.3M and Non-GBTC inflows of $2,388.4M. The largest daily GBTC outflow was -$105.8M on December 13, while the highest Non-GBTC inflow was $645.9M on December 12. Cumulatively, GBTC has experienced -$21,045M in outflows, whereas Non-GBTC has seen $56,621M in inflows, resulting in a net total of $35,576M.

Superform Labs, a non-custodial yield marketplace that raised $9.5M, offers an 

 through its CRED points program. Users can earn both Superform and Base airdrops by depositing tokens into Base chain vaults, with no lockup required and higher rewards for longer holdings.

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XION Launches $12.6M Anti-Grant Program to Support High-Caliber Web3 App Developers

Cheems (CHEEMS) on BNB Smart Chain blends humor with real-world utility. Explore its Cheemsverse ecosystem, welfare efforts and market performance.

Cheems (CHEEMS) is a meme coin launched on BNB Smart Chain (BSC), inspired by the iconic "Cheems" dog meme. Combining humor with a strong community, Cheems has grown into a notable player in the crypto world, attracting attention for its unique branding and utility within the Cheemsverse ecosystem.

This article explores the Cheems project, highlighting its features, market performance and contributions to charitable causes. Whether you’re a crypto enthusiast or curious about meme coins, discover why CHEEMS stands out.

Cheems (CHEEMS) is a meme coin built on the BNB Smart Chain (BSC), inspired by the popular "Cheems" dog meme that symbolizes humor and community in the crypto space. Designed to combine entertainment with functionality, CHEEMS aims to create an engaging ecosystem for its holders while promoting blockchain adoption through meme culture.

The project originated as a lighthearted way to connect with the growing meme coin community, but has since evolved with utility, such as the Cheemsverse and welfare initiatives. With its focus on fun and inclusivity, CHEEMS has gained significant traction among meme coin enthusiasts.

Cheems stands out as a community-driven project on BNB Smart Chain (BSC), blending humor and functionality. It thrives on the viral appeal of meme culture while incorporating blockchain features to engage its users. With over 

200 trillion tokens in circulating supply

, Cheems has become a significant player in the meme coin space.

Key aspects of the project include the following:

Cheems leverages its humorous roots to connect with crypto users while offering real-world applications, making it more than just a meme coin.

Cheemsverse is an interactive extension of the Cheems ecosystem, combining gaming, NFTs and blockchain applications to enhance utility and engagement. Designed for entertainment and community building, it offers several key features:

Cheemsverse aims to provide real-world use cases for CHEEMS while cultivating a strong, active user base.

 is a key pillar of the Cheems ecosystem, dedicated to giving back to the community through significant charity initiatives. It focuses on supporting animal welfare and local causes, aligning with its mascot's playful, pet-inspired identity.

Cheems Welfare bridges blockchain technology with meaningful social contributions, fostering goodwill within and beyond its community.

The Cheems features a transparent and community-driven tokenomics model:

The burn mechanism enhances token scarcity, fostering long-term value for holders and contributing to a sustainable ecosystem.

Cheems (CHEEMS) has established a notable presence in the crypto market:

Cheems demonstrates consistent activity, backed by a strong community and growing adoption, ensuring its position as a competitive meme coin in the crypto space.

Cheems is a unique meme coin on BNB Smart Chain, offering both utility and entertainment. Through its Cheemsverse ecosystem, welfare initiatives and transparent tokenomics, CHEEMS has gained steady traction among crypto users. With a market cap of $166 million, it reflects strong community support and market relevance.

 as a Bybit Perpetual contract. Dive into the vibrant world of meme coins and explore trading opportunities today!

Intermediate

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Cheems: Lord of Memes on BSC

P2P on Bybit is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price.

Peer-to-peer (or P2P) trading is a form of trade in which buyers and sellers directly exchange their coins and fiat assets.

 is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price. Please note that Bybit does not provide the buy and sell offers on the P2P page.

, including EUR, USD and JPY, and also supports four cryptocurrencies (USDT, BTC, ETH and USDC).

The fee structure of P2P trading corresponds to two different types: taker and maker.

To learn more about fees on the P2P platform, please refer to 

Can’t wait to start your P2P trading journey? Here’s a step-by-step guide to help you start your first P2P transaction on Bybit.

 on the top left corner of the navigation bar to enter the P2P trading page. 

 page, you can filter advertisers by entering your desired criteria for 

 Choose your preferred advertisement, and click on

 Enter the amount of fiat you want to pay, or the amount of coins you want to receive. Click on 

You’ll be redirected to the order page, where you’ll see a countdown timer to transfer the money to the seller's bank account. Make sure to verify that all of the order details are correct before proceeding. 

 once you’ve completed the payment. Acknowledge the rules and click on 

 if you have provided the necessary information.

a. Once the coins you’ve purchased have been successfully released by the seller, you can check your assets in the 

. You can also check your order status from the 

b. If the seller fails to release the coins after 10 minutes, you can click on 

Our customer support team will reach out to you. During this period, please do not cancel the order unless you’ve received a refund from your seller.

 Choose your preferred advertisement, and click on 

a. Enter the amount of USDT you want to sell, or the amount of fiat currency you want to receive. Click on 

 During the pending process, the buyer will have 15 minutes to complete the payment. 

a. Once you’ve successfully received your payment from the buyer, click on 

 to release your coins. You will be asked to enter your GA verification code as a verification step.

*Please ensure you've received the funds from the buyer before ticking the confirmation box and releasing your coins.

1) If the buyer did not complete the payment within the timeframe, the order will automatically be canceled. The coins reserved on the P2P platform will also automatically be returned to your Funding Account.

2) If you’re notified that the payment is completed, but have yet to receive the payment after 10 minutes, you can click on 

. Our customer support team will reach out to you.

For more details on how to buy or sell, please refer to the following two articles:

Now, you will need to complete at least KYC Lv1 before you can start P2P trading.

 in the upper right-hand corner of the page.

To learn more about the KYC verification process, please refer to the 

Once a buy order is submitted, the amount of coin specified will be reserved on the P2P platform. This means that if the seller doesn’t release the coin within 10 minutes after receiving the payment, our customer support has the right to release the coin from the reserved funds to the buyer after verification.

If you’re a seller, please make sure you’ve received the funds from the buyer before releasing your coin.

P2P on Bybit offers zero transaction fees for both buyer and seller. We support more than 

, including debit cards, credit cards, in-person cash payments, and more.

However, traders may need to pay transaction fees to the payment provider based on the payment method selected. 

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P2P on Bybit Trading: Everything You Need to Know

Strategies

Trading

A bull trap refers to a false signal against a bullish trend causing traders to sell off their assets. But did you know you can avoid it? Read on to find out how.

Every sport has its trick play. A play where they fake movement in one direction to throw the defense off, only to move in the opposite direction.

 has its playbook of trickery, today we will share a page out of the book called the bull trap. This pattern traps traders into buying while the market is still trending lower. And if you’re caught in this trap, the consequences can be quite severe.

Whether you’re retail or experienced traders, in this guide you will uncover the ins and outs of a bull trap. You’ll learn to hedge funds by avoiding these traps, based on an asset’s past performance, and by identifying them on a price chart.

A bull trap is when a steadily declining asset appears to reverse in a convincing rally but soon resumes its downward trend to even lower pricing.

Traders witness a downtrend and anticipate a bullish reversal, looking to buy the dip at a good price. After an investor buys in at the initial stage, the price breaks out and rallies beyond the key 

, but later retreats and resumes the downtrend. This pattern is completed when the price breaks down and creates lower lows, pushing the trader into a losing position. Hence, these breakouts can be considered a false signal, one of the worst-case scenarios a trader can anticipate.

Bull trap patterns are often referred to as a “

.” They are commonly seen in all markets, especially in crypto markets, due to frequent swift recoveries. Therefore, crypto traders may anticipate a bounce and buy tokens too early, leading to large losses and frustration.

There are essentially three parts that make up the perfect bull trap. We’ve illustrated them in the image below.

A bull trap occurs when a false rebound traps bullish traders into long positions. In the illustration above, the market is correcting lower within an initial downtrend at 

Then, traders anticipate the end of the correction and buy with the hopes of catching a good entry in the cryptocurrency at 

. Perhaps their trade starts with an unrealized profit, but the attempted rally loses momentum and cannot be sustained.

Prices end up reversing lower as sellers overtake buyers, pushing the market down. When the market falls below the old low, the pattern is completed as the trader either stop the trade or is very deep in a floating loss (see 

The essence of this pattern is when traders prematurely 

 in anticipation of a market low. It appears to the traders that the market downtrend is over. After they are in a long position, prudent and wise crypto traders will place their risk and a 

The early entry into trade and false breakout higher cannot be sustained because the market lacks large buyers. As a result, sellers continue to overwhelm the scarce buyers, and the pricing is readjusted to lower levels.

However, the problem escalates for the buyer, whose trade begins to float at a small loss. The problem intensifies for the buyer as the market pricing keeps readjusting to lower levels.

As the market trends lower, it begins to trigger the stop losses placed by the long traders. When a long trade is stopped out, the trader has to sell.

As the stop loss is triggered, more sellers are added to the market. More sellers in the market generate lower pricing. This negative feedback loop generates strong downward momentum on prices, and the market moves very swiftly to the downside.

Crypto markets are notorious for sharp bullish reversals, and crypto traders don’t want to miss out on a bargain entry. As a result, traders enter at a low price, but it may not end up being the bargain price.

Given this challenge, we can identify signals through technical analysis and 

, which will alert us to the potential development of a bull trap.

First of all, after a steady decline prices will rally, but not very far. In the example above, Bitcoin falls 23% during its initial decline in May 2021. During the initial downtrend, prices will remain below the sloping resistance trend line.

This behavior suggests the mood of the market is still to the downside, and the door is open to a bull trap.

Secondly, a bull trap will experience a false rebound that is weak with no momentum. As a result, the market will have a difficult time breaking above technical resistance levels. These zones are horizontal resistance levels, at previous highs and lows, which the market cannot break.

Another symptom that the market is creating a bull trap is lack of range expansion. A “range” in trading has multiple descriptions. One of the meanings for “range” refers to the size of each candle. If the chart is a daily candlestick, then each candle represents that day’s range.

During the initial downtrend, range expansion will take place, indicating that momentum is strong. To reverse that trend, you need to see range expansion in which the trend moves higher and bounces. The lack of range expansion on the bullish bounce is a symptom of a weak bounce — and that prices are at risk for further correction.

Measuring range expansion is fairly simple. Try adding an indicator to the chart called “

.” Set the input parameter to “1”. This indicator will place a window with a line at the bottom of the chart that provides a range measurement for the previous candle.

If the rally after the initial decline occurs with the indicator staying the same or becoming smaller, then it suggests that no range expansion is taking place.

Additionally, the market will experience a lack of momentum evidenced by the Relative Strength Index (RSI) indicator. Many traders or investors 

 for overbought, oversold readings and to confirm a reversal breakout.

For example, if the RSI has a hard time moving above the 50 centerline reading, this is indicative that a market shows indecision and is not yet recovering. Without momentum in the market, RSI readings will remain below 50.

Finally, the ultimate symptom of a bull trap is when prices break below the old/previous low. Traditional technical analysis will review price action in the form of old highs and lows.

A breakdown below the previous swing low continues a series of lower highs and lower lows, which is the definition of a downtrend.

As the bull trap is sustained, prices tend to correct swiftly to the downside. In the Bitcoin example above, the bull trap pattern shows that prices collapsed 42% within five days.

Crypto markets frequently trap most traders into buying too early. Let’s look at a couple of examples where the bull trap led to quick and large collapses in Bitcoin and Ethereum prices.

After topping on February 13, 2020, Bitcoin’s price began to correct lower and shaved 20% off its value (point 1 on the image above). Traders then saw a bounce develop as Bitcoin recovered some of those losses (point 2).

However, the technical indicators on the chart illustrate how this rebound is potentially a false recovery. Price is well below trend line resistance (point 3) and struggles to break above a horizontal resistance level (point 4). In addition, the recovery is not experiencing a range expansion (point 5). Lastly, the RSI indicator is unable to press above the median line at 50.

At this point, there is no evidence to suggest a meaningful low is in place for Bitcoin. As a result, Bitcoin is at risk of a bull trap.

Sure enough, Bitcoin reversed and fell through the old low two days later. This break below the old low led to a 58% collapse in the pricing over the next five days.

Bitcoin isn’t the only cryptocurrency susceptible to a bull trap. The bull trap was present on a 4-hour price chart of Ethereum the same way, right before it collapsed on May 19, 2021.

Ethereum entered a steady decline of 29% from May 12 to May 16 (point 7). 

 began a seemingly convincing rally (point 8), but the technicals of the chart suggest otherwise.

First, Ethereum did not break the downtrend, as the price was below the trend line (point 9). Secondly, ETHUSD couldn’t even break a horizontal resistance line (point 10).

Also, the market was exhibiting range contraction (point 11), which is the opposite of a healthy rally. Lastly, RSI could not break above 50 (point 12), suggesting this rally could be a false recovery.

Ethereum eventually proved this was a bull trap pattern, as prices fell to retest the old low at $3,124. After that test failed, prices collapsed 40% in a short period — in this case, just a matter of hours.

In a bull trap, the trend is still declining, but the crypto trader is still buying. The risks for these traders lie in trading against the trend.

But the truth is that a trend can last much longer than anticipated. The best way to trade trends is to filter your trades in the direction of the larger trend. For example, in the bull trap pattern, the trend is still lower; you need to filter the signals. That way, you are taking on short-selling trades.

Therefore, identifying the resistance levels where you can initiate a short sell position is crucial. If the market bounces higher and witnesses the bull trap symptoms previously described, then you have strong potential for a continued trend lower.

Also, identify the old swing low on the chart, and place a sell stop order should a breakout occur. Use the cascading sell orders to your advantage and align your trades to the direction of the larger trend, which is lower.

Lastly, make sure to incorporate sound risk management techniques, like implementing a stop-loss order. If the trade doesn’t work out, a stop loss order will prevent a small loss from turning into a severe one.

All in all, the best way to trade a bull trap pattern is to follow the prevailing trend lower and look for short-selling opportunities, rather than buying opportunities.

There will be times when you suspect a bounce in prices but are unsure if a true rebound will take place — or whether it may be a developing bull trap pattern. We never really know ahead of time, until there’s enough evidence that the rising prices appear to have some momentum behind them.

One of the best ways to avoid the bull or bear trap is to check the volume. Should there be any changes to the asset’s value but the volume remains unchanged, it could signal a trap is coming.

Wait for an Indicator to Confirm a Signal

Another way to avoid a bull trap is to wait for the indicators to provide enough evidence that the pattern is unlikely to develop.

Are prices breaking resistance trend lines and overhead levels of horizontal resistance? If these resistance levels break, then it is safer to go long.

Are you witnessing range expansion in the average true range (ATR) indicator? Not every candle will be larger, but you want to see the bullish candles larger than the bearish candles before going long.

Also, is your RSI oscillator breaking above 50? If so, this is evidence that the trend is gaining some momentum.

In April 2021, Ethereum exhibited technical signals that suggested a low likelihood of a bear trap. As illustrated above, Ethereum avoided the bull trap and ended up with a breakout, rallying 83% in value.

It can be challenging to wait patiently for some of these indicators to flash positive signals. However, if these symptoms are not present, the crypto market remains at risk of falling further — which means taking on losses in your trading account.

A bull trap pattern frequently occurs in crypto markets, as it is a false breakout signal to bulls that a rally is underway. In reality, the trend is expected to go lower, and the market continues to seek out cheaper pricing. 

The best way to avoid these traps is to wait for the technical indicators to signal a bull trend is underway, which means waiting patiently. Do not expect the market to react the way you anticipate without the confirmation of proper indicators. Always do your due diligence — and know that you trade at your own risk.

What Is a Cryptocurrency Bull Trap & How to Avoid it?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards