Traders seem to expect BTC’s momentum could slow down a bit after the price hit over $97,000.

Positive sentiment has continued to fuel the cryptocurrency market as the expectation of further institutional adoption of 

 keeps growing. Options trading of BlackRock’s Spot Bitcoin ETF IBIT 

 with a bang, attracting almost $2 billion on the first day of trading. The hope of more spot ETF derivatives to change the market structure with additional institutional money onboarding crypto is high.

, we explored the possibility of the market being overleveraged, which could be painful if the current leverage unwinds. Data from CryptoQuant shows that the estimated leverage of the current BTC markets has reached another YTD high.

Derivatives data on Bybit shows that traders seem to expect that BTC’s momentum could slow down a bit after the price hit over $97,000, and are focusing more on downside protection.

Figure 1: Bitcoin estimated leverage ratio at 0.23. Source: CryptoQuant

BTC Options Open Interest Returns to Previous High While Perps Are Catching Up

Derivatives traders have been actively participating in BTC markets as 

 on Bybit has surged to over $3 billion, on par with the previous high on Nov 14, 2024. Although the options OI has increased, it still hasn’t surged above the previous high. At the time, BTC’s price had already jumped to over $97,000. If the OI doesn’t follow suit and break above the previous high in the coming days, this could be a sign that the market could become a bit exhausted — something for all market participants to be aware of.

Figure 2: Daily open interest for BTC options on Bybit. Source: Bybit

 have also seen increased open interest in recent days. Perpetuals have been among the most favorable products for day traders and short-term speculators. Rising open interest could indicate that more traders are looking for short-term profit, which could bring additional volatility to the market. 

Figure 3: Daily open interest for BTCUSDT Perpetuals on Bybit. Source: Bybit

Dec 27, 2024 remains the most popular expiration date for BTC Options on Bybit, with most of the open interest there. Within that expiration, $120,000 calls had the most OI, and $100,000 calls accumulated the second-largest OI. 

Figure 4: Open interest by strike for BTC Options with a Dec 27, 2024 expiration. Source: Bybit

Meanwhile, the market’s optimism that BTC will hit $100,000 by the end of the year seems to support the current price momentum. Shorter-dated options could show that traders are also looking for downside protection. The Bybit 

 page shows that BTC Options with a Nov 29, 2024 expiration have a strong 24-hour inflow to $90,000 puts. This could indicate that some traders are also anticipating some degree of price correction by the end of the month. 

Figure 5: 24-hour volume by strike for BTC Options with a Nov 29, 2024 expiration on Bybit. Source: Bybit

 for BTC Options on Bybit also indicates a possible downside protection in play among options traders. A smirk skew, or left skew, is a skew curve that’s steeper on one side (the left side) than the other. Traditionally, a smirk skew curve could mean that traders have been protecting their portfolios against a possible declining market. At the time of this writing (Nov 21, 2024), BTC Options contracts on Bybit with Nov 29, 2024 and Dec 27, 2024 expirations have both shown a smirk skew. However, this doesn’t necessarily mean traders are bearish on the price, and could just be part of the trading strategy. For example, traders could set up collars by buying out-of-the-money (OTM) puts and selling OTM calls simultaneously, so that they can profit in case BTC’s price drops, gain upside exposure and potentially offset the cost of buying the puts. 

Figure 6: Implied volatility of BTC Options with Nov 29, 2024 and Dec 27, 2024 expirations. Source: Bybit

The current BTC leverage trading may be complex, but tells a revealing narrative about market sentiment. The divergence between high leverage and increased hedging activities also reminds us that market dynamics are rarely straightforward, and adopting a 

 seems increasingly important in this diverse market.

: Investing in cryptocurrencies and their derivatives involves substantial risk of loss, and isn’t suitable for every investor. This article provides facts for educational purposes only, and does not represent any financial advice. Prior to making any investment decisions, please ensure you fully understand the risks involved and seek independent advice if necessary. Our customer support team is available to assist you with any inquiries.

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Learn From Smart Money: BTC’s Leverage Remains High as Traders Hedge Against Downside Risks

Our weekly crypto derivatives analytics report dives into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

Spot prices have jumped significantly in the two weeks following the November 5, 2024 U.S. elections, propelling Bitcoin to new all-time highs, while Ethereum hasn’t kept pace. The implied volatility term structure has inverted again in tandem with these spot price movements, although longer-dated tenors remain relatively stable. Derivatives market indicators reflect strong positive sentiment: perpetual funding rates are consistently positive, open interest in futures contracts is rapidly increasing and options skew remains firmly positive.

Open interest in futures has surged, indicating heightened market participation and a growing interest in leveraged exposure due to recent price movements. Similarly, open interest in perpetual contracts has sharply increased, fueled by rising trader confidence and a growing demand for leveraged positions in light of recent market rallies. Meanwhile, the implied volatility term structure continues to invert in alignment with spot price increases, demonstrating a sustained correlation between spot prices and volatility.

Please check out the report’s highlights.

Futures Open Interest Reaches ATH Along With Price

Perpetual swap open interest has been increasing alongside futures, with a consistent rise in open positions over the past week reaching all-time high activity levels. This trend suggests that traders are actively pursuing leveraged exposure in response to the ongoing spot rallies, aiming to capitalize on the rising spot prices. Notably, there’s been renewed interest in Ethereum (ETH), reflected in rising trading volumes. 

Perpetual swap funding rates have reached exceptionally positive levels, indicating that long positions are confident enough to pay these rates to sustain their leveraged exposure. This trend has consistently been observed across all tokens, with a noticeable rise in funding rates since Nov 10, 2024. The persistently high funding rates highlight the strength of the bullish sentiment, which is also evident in the increasing open interest in futures contracts. This aligns with the recent spot price action, demonstrating significant upward momentum.

Option Volatility Term Structure Inverts 

The implied volatility term structure for Bitcoin has inverted amid the recent spot rallies over the past few weeks, indicating heightened market uncertainty and expectations of imminent price movements. However, levels haven’t exceeded the highs seen before the elections, and longer-dated tenors remain firmly range-bound. Concurrently, open interest in Bitcoin options has risen significantly, with a notable increase in put trading volumes. Open interest in puts has slightly surpassed calls, despite the persistently bullish market outlook indicated by the volatility smile skew.

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 20, 2024): Market Becomes Extremely Positive About Bitcoin as Volatility Curve Turns Invert

Learn how to join Bybit's VIP Program, where you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades up to $10M.

With the Bybit VIP Program, you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades, Bybit Card cashback and more. Joining the ranks of the very best traders on the platform will boost your profitability, raise your limits and offer access to VIP-only perks.

 and guides you through the steps to become a VIP trader and unlock exclusive benefits. Let's get started!

 is an exclusive club for the most esteemed traders in the crypto market. It’s designed to provide members an enhanced Bybit experience with numerous VIP-only benefits and perks. The program aims to reward avid traders who have high volumes, account equity levels and borrowing activities.

The Bybit VIP Program offers a multitude of benefits for members. These range from discounted trading fees and high limits for withdrawals and application programming interface (API) trades to priority Bybit customer support access, relationship managers and exclusive VIP events and meetups. You can find the full list of VIP exclusive benefits 

Requirements to Become a Bybit VIP Trader

You’ll need to fulfill a specific level for one of the criteria below to become a VIP trader on Bybit:

Bybit's VIP Program features six distinct tiers: 

. Each successively higher tier offers greater rewards, and also comes with more stringent qualification requirements. For instance, as a 

 trader, you’ll enjoy reduced trading fees, such as 0.03% for makers and 0.045% for takers in the spot market. To qualify for this exclusive tier, you must meet at least one of the following criteria:

Once you become a VIP trader, you must continuously meet the above criteria to maintain your Bybit VIP status and keep enjoying the benefits. 

However, this doesn't mean your account will immediately lose its VIP status and revert to standard after a single day in which you don’t meet the requirements. Bybit offers a 14-day grace during which you can continue enjoying VIP perks and benefits, even if you no longer meet the program's conditions. If the criteria are not met by the end of this period, your VIP status will automatically be revoked. However, if that occurs, you can regain your status by fulfilling the requirements for any VIP tier either during or after the grace period. When this happens, Bybit will grant you a new 14-day grace period.

How to Sign up to Become a Bybit VIP Trader

In the following section, you'll find a step-by-step guide that shows you how to join the Bybit VIP Program.

The first step to becoming a VIP trader is to open a Bybit account (if you haven't already done so). Simply 

 and fill out the form with your details. After registering, you’ll need to verify your account to enjoy the platform's full functionality.

Next, fund your Bybit account with crypto or fiat currency.

You can deposit cryptocurrencies by using the 

 menu. On the page, choose your desired coin and the blockchain where you'll be depositing the assets. To avoid any loss of funds, please always ensure that you're transferring crypto from the correct chain.

Next, copy-and-paste the wallet address displayed on the page, or scan the QR code with your smartphone's camera, and initiate the deposit from your wallet. After a few confirmations, your cryptocurrencies will be credited to your Bybit account.

To fund your Bybit account with fiat currency, click on the 

 button and select one of the available services (e.g., 

 service, choose a fiat currency, the deposit amount and one of the available payment methods. After clicking on 

, follow the instructions displayed on the next pages to initiate the transaction. Your funds will be credited to your Bybit account, with processing times varying according to your chosen service and payment method.

After you have a verified Bybit account funded with either crypto or fiat, perform eligible activity on the platform until you qualify for VIP status (see table below).

You can achieve VIP status by fulfilling a minimum level of VIP 1 in either of the following categories (

After becoming a VIP trader on Bybit, don't forget to maintain your VIP status to continue enjoying the exclusive perks and benefits.

If you have active VIP status at another crypto exchange, or your total MT5 trading volume meets Bybit's VIP criteria, you can apply for a VIP+2 upgrade. This upgrade will grant you VIP status on the platform — and instantly elevate it by two levels. (Please 

 that Bybit only considers 10% of any MT5 forex trading volume.)

 and submit your 30-day trading volume on your current exchange. Bybit’s VIP team will review your application, and a Relationship Manager will contact you if you're eligible for the VIP upgrade.

How to Get Started With a 20-Day Bybit VIP Trial

Another way to qualify for VIP status on Bybit is through a 20-day trial. Instead of fulfilling the requirements of the VIP 1 level, simply fund your account with $50,000 to enjoy the exclusive benefits of the program for 20 days with a VIP Trial Card (issued one day after your deposit). The VIP trial offer is available to users who haven't used a trial within the past two months.

To unlock the 20-day VIP trial, head to the 

 menu on Bybit and use one of the available payment methods to fund your account with $50,000 in assets.

With VIP Level-Up Tasks, you can earn generous bonuses as high as 6,000 USDT. You can claim rewards for Level-Up Tasks for five VIP levels (VIP 1, VIP 2, VIP 3, VIP 4 and VIP 5), with higher tiers offering greater bonuses upon completion.

If you're eligible, you’ll see a pop-up window with VIP Level-Up Tasks after you log into your account. To claim your rewards, complete the specified trading volume requirement within 14 days of receiving the task, and click on the 

 page. You can learn more about Bybit VIP Level-Up Tasks

Exclusive Trading Benefits Offered to Bybit VIPs

As a member of the Bybit VIP Program, you can unlock exclusive benefits to supercharge your trading experience. Among these are discounted trading fees (which can significantly boost your trading revenue), profitability and chances of winning trades.

In addition to discounted trading fees, you’ll also enjoy substantially higher API trading and withdrawal limits. While the former is restricted to 10 trades per second for non-VIP users, you can take advantage of up to 120 API trades per second as a VIP trader. Simultaneously, your daily withdrawal limit is increased from the basic 1 million USDT to as high as 12 million USDT.

 is an exclusive club that provides an enhanced service experience for the most esteemed traders. As a member, you can access a multitude of exclusive benefits and perks, such as the following:

Are you ready to supercharge your trading experience? 

Intermediate

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How to Become a Bybit VIP: Your Guide to Exclusive Benefits

LETSTOP is a drive-to-earn mobile app that monitors phone distractions while driving. Learn more about how it works in this article.

Smartphone distractions have created an unprecedented road safety crisis worldwide. 

: texting behind the wheel makes drivers six times more likely to crash than drunk driving does — yet millions of drivers still use their phones while operating vehicles.

This article explores how LETSTOP is transforming safe driving into rewarding experiences through blockchain technology. We'll examine its drive-to-earn model, reward system, tokenomics and potential as both a road safety solution and an investment opportunity.

 is a drive-to-earn mobile app that monitors phone distractions while driving. Users earn STOP tokens for phone-free driving through a gamified system that transforms daily drives into rewarding experiences.

A life-changing car accident caused by a distracted driver running a red light inspired LETSTOP co-founder Almog Nissan to reimagine road safety. Together with co-founder and CEO Dor Levy, they envisioned rewarding safe driving, rather than just punishing dangerous behavior.

The founders built a platform that combines automotive technology, cryptocurrency and AI to revolutionize road safety through rewards. This innovative approach has quickly gained traction, with over 50,000 users logging over 3 million kilometers of safe driving since the app’s launch.

Distracted driving claims thousands of lives annually, with 

, of which 9% are directly linked to phone use. LETSTOP aims to tackle this crisis as follows:

Each of these objectives works harmoniously to support LETSTOP's ultimate mission of transforming road safety into a rewarding experience that benefits both individual drivers and society.

The LETSTOP app operates through a sophisticated system that monitors and rewards safe driving through the following apps and features:

The result is a dynamic system in which better driving habits unlock greater earning potential.

The following five core features power LETSTOP's drive-to-earn ecosystem.

LETSTOP uses a dynamic 40-level system to make safe driving rewarding. As drivers earn XP through distraction-free journeys, they advance from Level 1's 2% bonus toward Level 40's 70% boost. Through this gamified approach, daily commutes become opportunities to climb the ranks while building safer driving habits.

LETSTOP Credits are the core currency of the platform, earned directly through safe driving achievements. Earning rates directly scale with user level, vehicle type and subscription tier as follows: PRO subscribers enjoy unlimited earning potential, while PLUS and LITE tiers are capped at 300 and 150 monthly credits, respectively.

In the STOP Store, users invest their earned credits into virtual cars with unique earning multipliers. From the basic model's 2% bonus to the Jazzster GN's 150% boost, each vehicle offers different strategic advantages for maximizing rewards.

Beyond vehicles, the store features mystery boxes containing rewards from 10 to 450 credits, as well as car upgrades and subscription boosts. Users can also access a voucher marketplace to redeem credits for real-world rewards through LETSTOP's partnership network.

LETSTOP's triple-boost system combines vehicle multipliers for immediate earnings acceleration, a level-progression system for sustained growth and a 5% referral program for community expansion. Premium membership unlocks enhanced benefits across three tiers, while special events create time-limited opportunities for increased rewards.

The platform's comprehensive rewards system operates across three membership tiers, each one tailored to different user needs. LETSTOP PRO (at $9.90 monthly) offers unlimited credit earning potential and exclusive benefits. The PLUS tier provides a balanced option at $4.90 monthly with a 300-credit earning cap, while the free LITE tier allows users to earn up to 150 monthly credits.

Beyond direct earnings, the rewards system incorporates partner vouchers, cryptocurrency conversion options and community features, such as leaderboards. Achievement rewards recognize milestones in users' safe driving journeys, while the upcoming cryptocurrency integration will allow users to convert their efforts into tradeable STOP tokens.

LETSTOP has shown consistent progress, with the following key milestones already achieved:

Looking ahead to 2025, LETSTOP plans to implement the following key developments:

These developments aim to strengthen LETSTOP's position as a leader in drive-to-earn while furthering its mission to enable safer roads worldwide.

STOP is an SPL token built on the Solana network. It’s designed to bridge safe driving behavior with cryptocurrency rewards. The STOP token implements an annual halving mechanism to ensure long-term value preservation, similar to Bitcoin's model, but accelerated to align with the project's growth trajectory.

STOP has a max supply of 100 million tokens, to be distributed in the following manner:

The growing adoption of LETSTOP's drive-to-earn app and its impact on road safety directly influence STOP's price trajectory. While cryptocurrency forecasts remain speculative by nature, multiple price analysis platforms project the following for STOP:

These forecasts suggest a positive long-term outlook for STOP, driven by the growing drive-to-earn sector and LETSTOP's innovative approach to road safety. However, STOP's future value will ultimately depend upon user adoption, platform development and broader market conditions.

Looking to trade LETSTOP tokens? Bybit now offers the STOP/USDT Spot trading pair. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

STOP shows promising potential in the drive-to-earn sector, though investors should carefully weigh both its strengths and potential risks before making investment decisions.

While STOP's innovative approach to road safety and its strong initial traction distinguish it in the market, potential investors should 

 and invest no more than they can afford to lose.

As smartphone distractions continue to endanger lives on roads worldwide, LETSTOP offers an innovative path forward. Through its innovative drive-to-earn model and STOP token ecosystem, the platform transforms daily commutes into safer roads and user earnings opportunities, showing how digital innovation can effectively “drive” positive behavioral change.

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LETSTOP (STOP): Turning Daily Rides Into Profitable Journeys

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Blockchain

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Aleo (ALEO) is a Layer 1 smart contract blockchain that allows users to protect their on-chain activities and data and enjoy complete privacy.

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Blockchain technology is known for its security, decentralized democratic 

 and transparency. All these features make it an attractive environment for technology apps and end users alike. However, the transparency of blockchain networks that’s achieved through open public access to their data can sometimes be a double-edged sword. Many businesses and individuals would like to transact privately without having to reveal their 

Aleo (ALEO) is a blockchain platform that maintains user privacy through the use of 

 (DApp) operators and end users to protect their transaction and account details. Using a smart combination of two validation methods (

, or DPoS, and its own unique “proof of succinct work,” orPoSW), Aleo aspires to become a leading privacy-focused blockchain network. The Aleo network also offers users nearly instant finality and high levels of scalability. 

For DApp operators specializing in privacy-sensitive niches and consumers who would like to transact confidentially, Aleo might be a natural choice — or at the very least a worthy alternative that deserves a closer look.

 blockchain network that allows users to protect their on-chain activities and data and enjoy complete privacy. 

It achieves its privacy-preserving properties by using a combination of components, mainly from the family of ZK proof technologies. By offering a private transaction and value storage environment, Aleo addresses a fundamental limitation of blockchain technology for privacy-oriented use cases— that of public access to all on-chain data.

Aleo also offers its users a high degree of scalability and instant finality. The technical efficiencies of the blockchain, coupled with its private environment, are beneficial for niches and industries for whom preserving the confidentiality of transaction activity is critical. One such prominent area is finance, specifically 

 (DeFi) applications. On Aleo's recently launched mainnet, DeFi apps feature prominently. Other types of DApps can benefit from this functionality offered by Aleo, such as private crypto wallet solutions and 

 (DID) apps, both of which are also present within the blockchain's young ecosystem.

The Aleo project was founded in 2020 in San Francisco, CA, by Howard Wu, Raymond Chu, Collin Chin and Michael Beller. After four years of research and development, the project launched its finalized testnet version in May 2024. On Sep 18, 2024, Aleo debuted its mainnet.

With its innovative privacy-oriented concept based on ZK proofs, Aleo has attracted significant attention from the crypto investor community. As of October 2024, the startup has already raised $228 million in venture capital (VC) funding, and boasts no less than 19 institutional investors, among whom is the largest venture capital firm in the world — Andreessen Horowitz (a16z).

 blockchain, Aleo combines several innovative technologies to achieve technical efficiency while maintaining user privacy.

Among the Aleo platform's most innovative and critical features is its PoSW procedure, which is used as part of the network's block validation process. In PoSW, special network actors, called provers, generate ZK proofs for transactions by using special hardware designed to solve computational puzzles. The Aleo blockchain's algorithm determines the difficulty level of these computations and the amount of work that needs to be completed by provers' machines.

In some ways, the PoSW procedure is similar to Bitcoin's 

 (PoW) block validation model. However, while Bitcoin's PoW is the sole block validation procedure required on the chain, PoSW is only one component of Aleo's overall block validation process (which we’ll look at in more detail below). Proofs generated by provers are passed on to Aleo's validators, who then complete the block validation procedure. PoSW enhances privacy and security while ensuring efficiency within the consensus mechanism.

Aleo’ platform is fully capable of running privacy-preserving smart contracts. In order to facilitate privacy-focused smart contract development on the network, Aleo has introduced the Leo programming language, designed for efficient and intuitive creation of Aleo-based apps and protocols. The language abstracts low-level cryptographic security concepts, allowing blockchain developers to concentrate on building private applications without needing to manage the complexities of ZK proofs. It also supports interoperability between programs, streamlining development on the Aleo network.

Aleo's unique consensus algorithm is called AleoBFT — a form of consensus based on the 

 consensus algorithm. AleoBFT helps maintain high throughput and scalability on the Aleo network by incorporating zero-knowledge proofs into its blockchain.

AleoBFT involves the work of three network actors — stakers, provers and validators — who operate in unison to maintain the platform's consensus and operations. Stakers delegate funds to validators to assist in their processing of transaction blocks, and receive ALEO rewards from them. Meanwhile, provers generate cryptographic proofs and solve puzzles, which validators verify and include in blocks to secure the network.

 is an off-chain cloud environment in which Aleo transactions are executed privately and securely. Using this private off-chain medium allows Aleo to provide virtually unlimited application runtime capacity and significant cost reductions. Two core components of the zkCloud processing environment are snarkVM and snarkOS.

snarkVM is a virtual engine that processes Aleo transactions efficiently and at scale off-chain, with only ZK proofs required for on-chain finalization. It’s written in the Leo programming language, and uses a functional execution model. Functional processing is one of the few main varieties of programming code execution, along with the object-oriented, actor and resource-oriented models, which are more commonly used in popular blockchain virtual engines like

snarkOS is a decentralized operating system optimized for running ZK proof–based programs. Serving as the backbone of Aleo's processing environment, it securely verifies transactions and maintains encrypted-state applications in a publicly verifiable way. It also helps Aleo nodes optimize resource allocation so they can participate in the blockchain's operations without excessive hardware expenditure.

Provers and validators must install snarkOS in order to provide their services and contribute to the Aleo blockchain’s operations.

Aleo SDK is a tool kit that helps facilitate the development of ZK-based applications. It includes packages primarily for TypeScript and JavaScript, as well as the Aleo Python SDK for Python developers. The tools included in the platform's SDK products greatly simplify and expedite the process of building privacy applications on the Aleo blockchain.

Varuna is Aleo's ZK proof system. At a high level, a ZK proof system allows data to be validated by specific network actors without revealing the full details. Only data that’s required for validity checking is processed.

 system, which supports batching (grouping blockchain transactions before validating them to improve efficiency and reduce cost). Marlin systems facilitate efficient off-chain computations, and are particularly suitable for processing ZK proofs, making them ideal for privacy-preserving DApps due to their scalability and efficiency.

Aleo uses a unique record-based model for user and smart contract addresses stored on the network. It represents an eloquent combination of the 

 (BTC) and the account-based model employed by the 

 (ETH) blockchain. In addition, it supports easy traceability of the funds being sent and received on the chain, while maintaining a high degree of smart contract programmability.

Aleo’s block validation model represents a combination of the PoSW procedure described above and the DPoS system used to finalize transaction blocks. Aleo's total block validation time takes only about 2–5 seconds. There’s a minimum fee of 0.005 ALEO tokens, the platform's native cryptocurrency, for the most basic transactions. Larger transactions attract higher fees based on the level of complexity involved.

There are three main actor types on the Aleo network — 

, provers and validators — who work together, carrying out their respective functions and using the platform's rewards and staking dynamics to power the overall functionality of the blockchain. 

 are users who would like to participate in securing the Aleo chain and earn rewards without having to run specialized nodes, like a prover or validator node does. Stakers delegate their ALEO funds to validator nodes to qualify for a share of block rewards. 

The minimum staking requirement for delegators is 10,000 ALEO (roughly $46,500 as of Oct 4, 2024), which can prove rather substantial for the average crypto user. Anyone who would like to take advantage of staking Aleo in a more affordable way has the option to use the 

 platform, which has a significantly lower token stake minimum of 10 ALEO ($46.50) in order to qualify for a share of block rewards.

 are network actors who generate ZK proofs by solving computational puzzles. The prover who wins the computational race to solve a puzzle earns a reward on top of the standard staking reward, called a Coinbase (unrelated to the Coinbase crypto exchange company). While the winning prover receives two-thirds of the Coinbase reward, the remaining one-third is passed on to validators, who finalize transaction blocks based on the ZK proofs sent by provers.

 are network actors responsible for completing the block generation process on Aleo. They’re the entities to whom stakers delegate funds. To qualify for their role, validators need to have a minimum of 10 million ALEO ($56,400,000) staked on them. Due to this substantial token stake requirement, Aleo's validators are usually relatively large institutional entities, including companies like Coinbase and one of the world's largest staking providers, Everstake. At the time of this writing (Oct 4, 2024), there are 

The ALEO token, previously known as Aleo Credit, is the native crypto asset of the Aleo chain. Acting as the chain's gas fee asset, ALEO is used to pay for services and computational resources sourced on the platform. Rewards for provers, validators and stakers are also disbursed in ALEO tokens. Stakers use ALEO to delegate crypto funds to validators.

. Holders of the token can participate in the decision-making process regarding any changes to the blockchain.

ALEO was launched on Sep 18, 2024, and has a total supply of 1.5 billion. There’s no maximum supply limit for the token. ALEO's initial supply allocation shares are per the chart below:

The ALEO token is available on Bybit's Derivatives market as a Perpetual contract with USDT (

). Under the contract, you can trade ALEO with up to 25x leverage using Bybit products like 

. The Derivatives market on Bybit offers you the opportunity to trade perpetual futures, standard futures, options and other derivative product types via contracts based on popular 

As of Oct 7, 2024, the ALEO token has been on the market for slightly over two weeks. It’s trading at $3.82, which is 43.8% lower than its all-time high (ATH) of $6.72 on Sep 28, 2024, and 44.1% higher than its all-time low (ATL) of $2.62 on Sep 20, 2024.

Despite the token's limited history, its confident start on the market points to healthy growth potential. As such, long-term price forecasts for ALEO are generally bullish. DigitalCoinPrice 

 of $9.93 in 2025 and $28.67 in 2030, while CoinCodex 

 to rise to a high of $17.76 in 2025 but ease back to a lower high of $15.38 in 2030.

The public nature of blockchain platforms has been heralded as one of the technology's main advantages. However, data security, privacy and the ability to conceal sensitive transaction details from the public eye are often critical when it comes to real-world business applications. 

The Aleo team, unlike many others involved in the blockchain industry, recognized this need years ago and, after several years of development and testing, has delivered a product that can appeal to businesses whose functional models hinge on privacy and confidentiality. This is particularly relevant for the finance sector, of course. It's no wonder, therefore, that among the DApps in Aleo's still young ecosystem, DeFi solutions feature prominently.

With a mainnet launch in September 2024, Aleo is still in the early stages of its market presence and development. However, as we move toward the end of the year and further into 2025, the concept of a privacy-preserving blockchain will undoubtedly find more fans, both in the finance niche and beyond. As this concept’s popularity grows, so too will appreciation for the infrastructure provided by Aleo, one of the rare blockchain projects that considers privacy its 

Aleo (ALEO): A Layer 1 Blockchain for Privacy and Security in Web3

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