Southeast Asia (SEA) has emerged as a leader in cryptocurrency adoption, with countries like Indonesia, Vietnam, and the Philippines ranking among the top ten globally in the 2024 Chainalysis Global Crypto Adoption Index. T

Southeast Asia (SEA) has emerged as a leader in cryptocurrency adoption, with countries like Indonesia, Vietnam, and the Philippines ranking among the top ten globally in the 2024 Chainalysis Global Crypto Adoption Index. The region has witnessed a remarkable surge in crypto ownership, increasing by 21.8% to 326.8 million users as reported by Triple-A's 2024 research. A young, tech-savvy population, significant underbanked demographics, and widespread internet access largely drive this growth.

In terms of ownership rates, Singapore leads with 24.4%, followed by Thailand (17.6%), Vietnam (17.4%), and Malaysia (14.3%). These statistics highlight the potential for further growth in a market characterized by innovation and an appetite for financial technology.

Despite the strong adoption of cryptocurrencies, Southeast Asian countries exhibit varied regulatory landscapes, reflecting their unique economic priorities and goals for innovation. Countries such as Singapore and Thailand have established comprehensive regulatory frameworks, while others like Vietnam are still in the early stages of policy development.

The regulatory approaches in SEA are fragmented, ranging from supportive to developing. For instance, Singapore has enacted significant legislation through the Payment Services Act and the Securities and Futures Act, creating a robust legal infrastructure for digital assets. Conversely, Vietnam is still formulating formal regulations despite its high adoption rates, and the Philippines is working towards establishing licensing rules for crypto service providers.

There is a growing trend towards aligning local regulations with international standards, particularly concerning anti-money laundering (AML) and tax transparency. Countries like Singapore and Thailand have implemented strict AML requirements for crypto exchanges, while Malaysia is enhancing tax reporting for crypto transactions. These measures aim to create a sustainable crypto environment while addressing financial crime risks.

Investor protection and regulatory maturity

Investor protection is increasingly a focus for nations with established regulatory frameworks. Singapore and Thailand are moving towards more robust regulations to safeguard investors, while other countries are still developing basic compliance mechanisms. This disparity in regulatory maturity can impact the overall investment climate and innovation potential within the region.

As Southeast Asia continues to evolve as a significant player in the global crypto landscape, several challenges and opportunities lie ahead. The region's success will depend on its ability to foster innovation while ensuring consumer protection and attracting investment.

Regulatory clarity is crucial for spurring growth in the crypto sector. Countries like Singapore have set high benchmarks with their established frameworks, which could serve as models for others in the region. Collaboration with industry players, such as Bybit's involvement in Vietnam's regulatory sandbox initiative, will be vital for crafting effective regulations that balance market risks with long-term growth objectives.

Aligning with global standards, such as the EU’s Markets in Crypto Assets (MiCA) regulation and the Financial Action Task Force (FATF) guidelines, can enhance the credibility of SEA's crypto framework. This alignment will facilitate cross-border transactions and improve the region’s appeal to investors and businesses.

To capitalize on the growing interest in crypto, SEA must focus on building a supportive ecosystem that nurtures innovation. This includes investing in education, enhancing technological infrastructure, and promoting a collaborative environment among stakeholders. By fostering a culture of innovation and ensuring robust regulatory practices, SEA can solidify its position as a crypto powerhouse.

Southeast Asia stands at a pivotal moment in its crypto journey, characterized by significant adoption rates and a diverse regulatory landscape. The region's ability to establish clear, supportive regulations while fostering innovation will determine its future as a leading hub for cryptocurrency and blockchain technology. As countries navigate their regulatory paths, strategic collaboration and alignment with global standards will be essential to harness the full potential of the crypto market in Southeast Asia.

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Diving into Southeast Asia’s crypto regulatory landscape

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Bybit Crypto Insights Report: Diving into Southeast Asia’s crypto regulatory landscape

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.

Front-end volatility for BTC has reacted to recent spot price fluctuations, leading to a new all-time high (ATH) of $111.8K, the first since January 20, 2025. At-the-money implied volatility is between 45% and 50%, with short-tenor volatility rising from last week's lows. Perpetual funding rates remain stable, even as spot prices climb, though options skew steepened towards calls by 7% due to increased demand for OTM calls.

In perpetual swaps, open interest hit a new May high over $11B, reflecting stronger risk-on sentiment than in April. For ETH, short-tenor options retain their volatility premium compared to longer-tenor options, while OTM calls continue to show solid support, despite a slowdown in the recent surge of ETH’s spot price.

Please check out the report’s highlights.

ETH open interest has started to rise this week, aligning with BTC surpassing its January ATH of $111K, positively affecting the crypto market, including Ether (+4.5%). However, the increase is slower than last week’s 50% surge in ETH's spot price. Total open interest and perpetual trading volume across nine tokens reached monthly highs of over $11B and $26B, respectively. On May 19, 2025, perpetual trading volumes surpassed $20B after Moody's downgraded US debt. BTC, like risk-on US equities, initially fell but quickly recovered its intraday losses.

Regulatory advances propel BTC toward ATH with put-call skews favouring calls

Mid-May volatility expectations declined as BTC traded sideways between $102K and $104K. Recently, this range extended to $108K due to a tariff détente between the US and China, though macro uncertainties like the downgrade of US treasuries limited a full breakout. However, regulatory advances helped BTC surpass $110K. This tug-of-war has led to reactive front-end volatility, with implied volatility levels for BTC between 45% and 50%. Options volumes remain skewed toward puts, despite the spot price entering price discovery, with open interest also dominated by puts at $200M.

What’s more, the skew of BTC volatility smiles has steepened significantly, as OTM calls trade at a higher implied volatility compared to puts across all tenors, with the one-week tenor put-call skew briefly exceeding 7% before coming back down.

ETH outperformance moderates as skews turn less bullish

After two weeks of ETH outperformance, it now lags behind BTC. While ETH's one-month returns are an impressive 69%, its seven-day increase has been lower, largely due to BTC's recent rally. The inversion in its term structure of volatility persists, with short tenors holding a premium over longer tenors. ETH's put-call skew is now significantly less bullish than last week, though it still shows a 5% skew for OTM calls. The dominance of call options in volumes and open interest has narrowed, with open interest in calls only $30M greater than in puts.

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Bybit X Block Scholes crypto derivatives analytics report (May 22, 2025): Bitcoin options skew steepens toward calls by 7%; ETH outperformances moderate

Discover how trading strategies differ in crypto vs. stock markets, from volatility and profit potential to regulation, TA tools, and trading hours.

 markets both offer profit opportunities to skilled traders but have significantly different characteristics. Compared to equities, cryptocurrencies are much more volatile and less regulated. They have lower barriers to entry and attract traders following 

The differences between the two asset classes mean they require different mindsets, approaches and tools to succeed. Strategies that work perfectly in the stock market may not fit the crypto market or require significant adjustments.

In this article, we will examine the key differences between stocks and cryptos. Understanding and appreciating these differences is key to successful trading in both markets.

Equities are a highly regulated asset class. Traders know that their funds are well protected by securities laws. They can diversify their stock portfolios, mixing in other regulated asset classes. The regulatory recognition also lets traders pursue tax-efficient investment strategies.

Crypto trading, on the other hand, has very low levels of regulation. This opens up opportunities for income sources that aren’t available for traditional asset classes 

The abundance of centralized (CEX) and decentralized (DEX) crypto exchanges and their rate differences also provide 

Skilled crypto traders may also use derivatives products, particularly 

 contracts. These are often based on pairing their target cryptocurrency with an established stablecoin, such as 

 (USDC). By holding the perp contracts with no expiry dates, the traders try to capitalize on the coin’s price movements against the stablecoin without owning that crypto directly. The perp contracts also typically offer the most liberal leverage ratios available in the crypto market.

Stock market trading hours are limited to Monday through Friday, 9:30 AM to 4:00 PM. Most stock exchanges in the US, including the two largest ones — the New York Stock Exchange (NYSE) and the NASDAQ — follow these hours.

These strictly defined hours have given rise to different occurrences, including market-opening momentum. This is where there’s a readily observable spike in activity in the first minutes of the trading day, typically driven by overnight news and pre-market events.

Another is the power hour, the last hour of trading, when traders rush to implement market moves they’re determined to carry out before the close of trading.

Unlike the stock market, the crypto market is open 24/7. The hour-specific phenomena of equities trading rarely apply to cryptocurrencies. Instead, the crypto market’s around-the-clock nature has led to the active use of automated trading strategies that can be executed at certain intervals regardless of the time of day.

 levels than cryptocurrencies. This is particularly true for blue-chip equities in stable, long-established industries like banking or utilities. Examples include JPMorgan Chase & Co. (JPM) and Dominion Energy (D). Even tech and growth-oriented stocks like Microsoft (MSFT) and Apple (AAPL) exhibit lower volatility than crypto since they are global industry leaders with more established fundamentals.

The market’s relatively low volatility has led to the dominance of strategies like value-based investing and long-term trend following.

In contrast, the crypto market’s much higher volatility levels have led to the active use of momentum-based strategies and scalping, which aim to take advantage of small price changes quickly.

Crypto’s higher volatility attracts traders who utilize high-risk and high-reward strategies.

 This is particularly the case with smaller-cap altcoins as opposed to larger, more established cryptocurrencies like 

The stock market’s lower volatility also spells lower profit potential in the short term compared to crypto. Naturally, this is accompanied by less risk.

Instead of chasing large profits quickly, traders in the market try to maximize gains via long-term strategies, taking into account not only price growth but also dividend potential and other factors not directly tied to the stock price.

 (DCA), dividend-based investment, and long-term value investing are widespread in equities.

In contrast, the crypto market offers higher potential profits coupled with higher risks. High-risk strategies, such as leverage trading, short-term trend chasing and speculative altcoin investing, are very popular in the market. Not many active crypto traders, die-hard 

 aside, want to follow multi-month or multi-year approaches, which are very common in the stock market.   

As a result, you can earn significantly higher profits in crypto. However, the market also has an abundance of horror stories in which traders lose everything, or at least a significant proportion of their capital, trying to apply high-risk strategies.

 (TA) tools have a long and established history of use in the stock market. Equity traders use TA indicators like support and resistance levels, 

 and many others to support their decision-making. They also use fundamental analysis data pieces 

such as company earnings reports, price-to-earnings ratios, debt-to-equity ratios, dividend yield estimates and sectoral growth reports 

In the crypto market, many standard TA tools work reasonably well for high-cap, high-liquidity coins like Bitcoin and Ethereum. For these assets, support and resistance levels, volume data and basic patterns can provide useful information to support the trader’s actions. 

However, many TA indicators become less reliable the lower the liquidity of the analyzed coin. For low-liquidity altcoins, these indicators might become useless or even deceptive.

The most basic trading instrument in the equities market is the actual stock of publicly traded companies. Additionally, traders can invest in 

 (ETFs) that provide exposure to equities, bonds, indices, commodities, cryptocurrencies and other asset classes. In many cases, ETFs are based on a basket of assets, though single-asset ETFs are also quite common.

Stock traders also often invest in bonds, usually through the over-the-counter (OTC) bond market. Those with an understanding of the derivatives market may also trade options, futures or contracts for difference (CFDs) on specialized derivatives exchanges.

Typical trading instruments are somewhat different in the crypto market, where the most popular form of trading activity is the spot buying and selling of cryptocurrencies.

Skilled crypto traders may also use derivatives products, particularly perpetual futures contracts. These are often based on a pairing of their target cryptocurrency with some established stablecoin, such as USDT or USDC. By holding the perp contracts with no expiry dates, the traders try to capitalize on the coin’s price movements against the stablecoin without having to own that crypto directly. The perp contracts also typically offer the most liberal leverage ratios available in the crypto market.

There are considerable differences between equities and crypto, meaning trading these asset classes requires different approaches. Crypto’s 24/7 markets mean that many of the time-of-the-day phenomena observable in the stock market, such as the opening momentum and the rush hour, do not apply.

At the same time, the crypto market’s high volatility also means that traders actively use scalping and momentum-based strategies. The high volatility also attracts the trader crowd that prefers to apply high-risk and high-reward strategies. While risks in the market are considerably higher than for equities, potential profits, especially in the short term, can be significantly stronger.

Cryptocurrency traders should also consider that established TA methods may not provide as clear signals as they do in the stock market, particularly for smaller-cap coins. The prevalent trading instruments differ to some extent as well 

 spot cryptocurrency trades and perps dominate in the crypto market, while stocks and ETFs are the name of the game for equity traders.

Intermediate

trading difference between crypto and stocks

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Stock market vs. crypto: Different approaches to trading success

Mantle has partnered with Republic Technologies to make mETH the first liquid staking token held on the balance sheet of a publicly listed company.

The S&P 500 slipped 0.04% as deficit concerns from a $4T spending bill and a U.S. credit downgrade pressured markets. Gold fell 0.83% to $3,289 as a stronger US Dollar and solid US data outweighed falling yields, though long-term bullish sentiment remains supported by geopolitical risks. The Coindesk Indices, which tracks the broader crypto market, rose 2.13%, with Bitcoin and Ether up 2.35% and 5.37%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is WLD, up 28.0% after Worldcoin raised $135M to scale its network, with verified users surpassing 12.5 million.

Worldcoin (WLD), uses iris scans to verify identity, giving users a World ID and free tokens. Co-founded by Sam Altman, it aims to build a global identity and financial network. Worldcoin 

 $135M through a direct token purchase by a16z and Bain Capital Crypto to scale its network, now with over 26M users and 12.5M verified via the Orb. The funding increased WLD's circulating supply.

Check out the latest prices, charts, and data of 

 with Republic Technologies to make mETH the first liquid staking token held on the balance sheet of a publicly listed company. Republic will allocate ETH to Mantle’s mETH Protocol, reflecting a shift in institutional strategy toward Ethereum-based yield infrastructure. The move supports Mantle’s broader plans, including mETH’s role in the upcoming MI4 index fund and Mantle Banking, which aims to integrate mETH into traditional finance.

Yesterday, Bitcoin spot ETFs saw $57.6M in inflows, entirely from non-GBTC funds, with GBTC recording no flow.

, featuring Spark—a DeFi platform with $2.6B in liquidity—is now live. Users can earn Snaps by posting, liking, or engaging with Spark-related content on Crypto Twitter. More Snaps means more rewards.

Beginner

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Mantle partners with Republic Technologies as mETH becomes first liquid staking token on public company balance sheet

Bybit Guide

Stop the juggling multiple accounts to manage your assets. Here's what you need to streamline your portfolio. 

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Until recently, you may have been juggling multiple Bybit accounts to trade Spot, Derivatives and USDC Options. The launch of the 

 (UTA) gives traders a powerful option to combine trading and cross-collateral margining under one single account. 

Designed to simplify the trading experience 

, from retail traders to professional institutional investors, the UTA supports one-click access to all Bybit core trading products — 

This all-in-one solution streamlines the trading experience, offering a range of benefits that cater to both novice and seasoned traders. Read on to explore eight compelling reasons to make the switch to Bybit's UTA.

Unified Trading Account vs. Standard Account: The Differences

The Standard Account is Bybit’s legacy account option. However, since September 2023, Bybit has begun gradually transitioning new users to the Unified Trading Account. 

The Standard Account requires traders to hold specific assets for specific trading activities. In contrast, the UTA allows traders to use various supported margin assets (as collateral), which are then converted into USD for trading. This means traders don't need the exact settlement coin for a product, enhancing capital utilization and providing more flexibility and efficiency in trading.

 between the two accounts are as follows:

: We recommend users upgrade their sub-account to UTA before converting their main account, as the function is not reversible. 

Benefits of Upgrading Simple Mode to UTA 

Aside from the operational convenience of combining all trading instruments into a single account, Unified Trading Accounts offer users several key trading benefits.

The Bybit Unified Trading Account consolidates your trading activities, eliminating the need to juggle multiple accounts. With a single account, you can seamlessly trade Spot, USDT Perpetual, USDC Perpetual and USDC Options without having to transfer funds to multiple accounts for different product transactions. This unified approach simplifies asset management, letting you focus on trading strategies rather than account logistics.

Different traders have individual risk appetites and strategies. For this reason, the Bybit Unified Trading Account offers three margin modes to cater to every trader profile.

The UTA enhances capital efficiency by allowing traders to use unrealized profits to open new positions. This means that even if a position hasn't been closed, its unrealized gains can be leveraged for new trades.

For example, let’s assume that a user holds 3,000 USDT in their wallet and has three open positions:

At this time, their available USDT balance to open new positions is as follows:

Wallet Balance (3,000 USDT) + Perp & Future Unrealized P&L (0 USDT) − Total Initial Margin (1,340 USDT) = 1,660 USDT

As the price fluctuates, there will be changes in their P&L:

Wallet Balance (3,000 USDT) + Perp & Future Unrealized P&L (2,400 USDT) − Total Initial Margin (1,340 USDT) = 4,060 USDT

Over 70 Popular Assets Available as Collateral

With support for more than 70 popular assets as collateral, the Bybit Unified Trading Account ensures that traders don't miss out on opportunities. This feature also supports collateral asset customization, ensuring that trading activities are secured without the need to sell settlement assets.

 is a unique feature exclusive to the Unified Trading Account. It's designed to enhance the security of your Perpetual contracts, and uses Options based on intelligent recommendations to shield your Perpetual contracts from potential risks.

Imagine you're trading in a highly volatile market, and are concerned about sudden price drops. Perp Protect can automatically buy Options for you based on smart algorithms, ensuring that your Perpetual contracts are safeguarded against unexpected downturns. This tool acts as an industry-first downside protection, ensuring that traders can operate with an added layer of security.

As an illustration of using Perp Protect, let’s say that you’ve encountered a trading position loss of $500. After choosing to use Perp Protect, you’d incur a cost of $60. However, the silver lining comes in the form of a compensation amounting to $543, courtesy of Perp Protect. When you factor in the cost of Perp Protect and the received compensation, you’re left with a significantly reduced total loss of just $17.

On the other hand, if you decide to navigate the markets without Perp Protect and find yourself in a similar situation with a loss of $500, that loss remains as is, without any compensation or mitigation.

The Bybit Unified Trading Account introduces an optimized way to calculate and monitor account risks, using the MMR to keep a closer eye on potential liquidation risks.

Let's say you're a trader who's always on the lookout for potential liquidation threats. With UTA, instead of constantly calculating and recalculating your risks the system uses the MMR to give you real-time insights into your liquidation risks. This means you can make informed decisions faster and with more accuracy.

For those new to the Bybit Unified Trading Account, or for users who want to test its features without any real-world risks, the UTA offers a 

 mode. This simulates a real-world trading environment, allowing users to get a feel for how the Unified Trading Account operates.

Imagine you're a newbie to the world of crypto trading. Instead of diving headfirst into the market with real funds, you can use Bybit’s Demo Trading feature, which will provide you with more than $130,000 in simulated funds. This allows you to practice and understand the nuances of trading within the UTA environment. It's like a sandbox mode that lets you learn, make mistakes and refine your strategies without any financial repercussions.

Seamless Repayment Process for Borrowed Assets

The Bybit Unified Trading Account simplifies the process of 

. With its efficient auto borrowing feature, traders can open trades without any interest (this is applicable only to USDT and USDC loans within the interest-free range). Additionally, the UTA offers flexibility in choosing which assets to use for repayment.

Suppose you've borrowed some USDT for trading, and now it's time to repay. Instead of going through a lengthy repayment process, the UTA supports interest-free auto borrowing, which means you can quickly and seamlessly repay your borrowed amount without incurring extra costs. 

Furthermore, if you have multiple assets in your account, you can choose which one to use for repayment, giving you more control over your finances.

 is quick and easy. Simply follow our step-by-step guide below.

 that the upgrade to the Bybit Unified Trading Account is 

Your account will take approximately one minute to finish upgrading. While the upgrade is underway, please avoid trading or transferring assets. 

After the upgrade is complete, you’ll be able to use your Unified Trading Account to trade Spot (including Margin), Leveraged Tokens, USDT Perpetual, USDC Perpetual and Options. You’ll also be able to use your Inverse Derivatives Account to trade Inverse Contracts. The function of the Funding Account will remain unchanged, and you’ll be able to make deposits or withdrawals via your Funding Account. 

Before you start trading, make sure you've read and understood the risk management and trading requirements. After the upgrade, you can celebrate having more efficient capital utilization, enhanced risk management, and one-click access to a wider range of trading products.

 More than just a trading account, the Bybit Unified Trading Account is a comprehensive trading solution. By consolidating multiple features and tools into one platform, Bybit gives you everything you need at your fingertips. Whether you're a seasoned trader or just starting out, the UTA offers a range of benefits that can enhance your trading experience. 

 and discover the future of crypto trading!

8 Key Benefits of Upgrading to Bybit’s Unified Trading Account

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