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.

Advanced

Diving into Southeast Asia’s crypto regulatory landscape

Diving into Southeast Asia’s crypto regulatory landscape.png

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.

block-scholes-x-bybit-report.jpeg

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

trading difference between crypto and stocks.png

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

2.png

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

Bybit Learn

web3

Explore the 16 key uses for bbSOL on Bybit and learn how you can trade, lend and earn with flexibility today!

EN_2409-T35020_Learn_Read_to_Earn_728x90.png

20250206-172202.jpeg

Skinny_Banner-1600x400.webp

 SOL has forced users to choose between earning rewards or maintaining liquidity. Bybit's 

, allowing users to earn yields while actively trading, lending and exploring opportunities within decentralized finance (

In this guide, we'll explore 16 powerful use cases for bbSOL across Bybit's centralized finance (CeFi) products and Solana's DeFi protocols. By the end of it, you'll understand how to leverage your SOL for maximum returns while maintaining complete control of your staked SOL assets.

Bybit Staked SOL (bbSOL) is Bybit's exchange-backed liquid staking token representing staked SOL, enabling users to earn continuous rewards while retaining the flexibility to trade, lend and earn across Solana DeFi protocols and the Bybit ecosystem.

bbSOL operates via the following simple three-step process that makes SOL staking accessible to everyone.

 to receive bbSOL tokens at a 1:1 ratio. As a liquid staking token (LST), bbSOL functions as your receipt for staked SOL, allowing you to maintain liquidity while staking. The process requires a minimal 0.1% SOL deposit fee, with zero management fees or validator commissions.

Hold bbSOL to earn an 8.82% APY that automatically compounds with each Solana epoch (every two to three days). Earnings are reflected in bbSOL's increasing exchange rate against SOL, so that your bbSOL will become worth more SOL over time. The growing rate incorporates base staking rewards, 

 earnings and trading fees, without requiring manual claims.

Maintain complete flexibility with your staked assets through instant unstaking options. You can redeem your bbSOL for SOL at any time to receive your initial stake and accumulated rewards, with no additional fees. However, users should consider potential slashing penalties from validator misbehavior, and natural fluctuations in bbSOL's value relative to SOL.

Experience the full potential of bbSOL through Bybit's comprehensive suite of centralized finance products, as follows.

Trade Spot, Futures and Options from a single account through Bybit's 

 system. The platform's account-level margin system enables users to leverage multiple cryptocurrencies as collateral while maintaining centralized portfolio management.

 Margin modes to match your risk preferences. The UTA system optimizes capital efficiency by allowing unrealized profits to be used as margin, and letting profits and losses from different derivatives offset each other.

Trade bbSOL through multiple market pairs on Bybit's Spot exchange. The BBSOL/USDT pair offers up to 10x 

 for enhanced trading opportunities. Additional pairs include BBSOL/USDC for 

 liquidity, and BBSOL/SOL for direct conversions between staked and unstaked tokens.

 to receive bbSOL — with no technical expertise or hardware required. The platform manages all complexities, including node operations, gas fees and reward distribution, for a streamlined staking experience.

Access staking with minimal capital, and diversify earnings through various DeFi strategies, 

 and innovative on-chain opportunities, all while contributing to blockchain security and decentralization.

 to earn daily yield distributions with the freedom to withdraw anytime. The platform offers competitive, tiered 

 rates and additional rewards through APR Boosters from 

Users can manually reinvest their daily yields or activate the Auto-Savings feature for qualified deposits for optimal returns. Interest rates are structured in tiers, with higher deposits typically earning adjusted APR rates.

Participate in new token launches by staking bbSOL with 

. Users can earn newly listed tokens as rewards while maintaining their bbSOL positions, offering an additional way to generate returns from staked assets. Launchpool provides regular opportunities to join token distribution events (TGEs), with rewards allocated based on the staked bbSOL amount and participation period.

Access instant liquidity using bbSOL as collateral for Bybit's crypto loan service. Borrow from over 160 crypto assets, with hourly interest calculations and the flexibility to repay anytime without penalties. Manage your loan-to-value (LTV) ratio by adjusting collateral amounts and using borrowed funds for DeFi 

, margin trading or yield arbitrage opportunities.

Access professional-grade lending services designed specifically for institutional clients through Bybit's Institutional Loan program. This structured solution offers different terms from standard crypto loans, allowing institutions to optimize their borrowing strategies based on their capital requirements.

The service provides competitive rates and flexible collateral management while maintaining the same core benefits as standard crypto loans, including hourly interest calculations and the ability to repay before the due date.

Unlock bbSOL's potential across the following multiple Solana DeFi protocols and Bybit Web3 products to maximize your yield opportunities.

 known for its user-centric design. The platform's 

 (CLMM) enables liquidity providers to target specific price ranges for enhanced capital efficiency and higher potential yields, while traders benefit from minimal slippage and competitive rates.

 on Solana that enables the creation of permissionless pools. The platform's concentrated liquidity pools allow users to optimize their positions while earning additional ecosystem rewards, supported by Raydium's efficient 

, Solana's native restaking protocol that optimizes network performance through its shared validator network. Users can deposit bbSOL to secure additional block space, earn MEV rewards and contribute to 

, whereby P2P.org's vault optimizes capital efficiency through Vault Receipt Tokenization (VRT). Users can maintain liquidity while their assets earn staking rewards, leveraging Jito's secure and transparent operations.

The platform's rstSOL vault enables bbSOL holders to earn additional rewards through TipRouter's decentralized MEV tip distribution system, with plans to expand to other Node Consensus Networks (NCNs), such as Squads, Switchboard and Sonic. This strategic integration enhances the utility and efficiency of staked assets within the Solana ecosystem.

's comprehensive DeFi platform, which combines automated concentrated liquidity strategies with lending markets. Users can optimize returns through one-click liquidity provision, borrow against their positions or multiply LST yields through leverage.

The platform's intuitive interface unifies these DeFi strategies into an integrated product suite, allowing users to track performance analytics and manage positions across lending, borrowing and automated liquidity solutions.

 lending markets to access additional yield opportunities. The protocol allows you to lend your bbSOL to earn interest, or use it as collateral for borrowing, creating flexible options for portfolio management and yield generation.

, a leading Solana lending protocol (formerly Solend), to earn interest through deposits, or use as collateral for borrowing. The platform combines high-speed transactions with sophisticated 

, enabling users to create efficient yield-generating strategies through lending and borrowing loops.

, Solana's first leveraged yield exchange. The platform enables users to trade synthetic yield tokens with up to 10x leverage, lock in fixed yields, or provide liquidity to optimize returns through multiple yield streams.

Should You Maximize Your SOL Holdings With bbSOL?

bbSOL is an ideal choice for investors looking to maximize their SOL holdings without sacrificing liquidity. Whether you’re an active trader, DeFi enthusiast or someone exploring new yield opportunities, bbSOL provides a seamless way to put your assets to work across multiple platforms. By integrating with various trading and staking mechanisms, it offers both flexibility and efficiency in asset utilization.

For traders, bbSOL enables active participation in both Spot and Margin markets to support dynamic portfolio adjustments. Investors interested in 

 can leverage CeFi and DeFi opportunities, ensuring steady returns through lending, staking and liquidity provision. Additionally, bbSOL supports liquidity provision across major 

 (DEXs), offering yet another avenue for earnings. Investors can also amplify their positions by borrowing against their holdings, unlocking further potential for capital efficiency.

Beyond trading and lending, bbSOL opens doors to advanced yield-generation strategies. Restaking protocols allow users to earn additional rewards, while participation in Launchpool initiatives enables early access to new token launches. These features make bbSOL an attractive option for those seeking diversified growth opportunities.

However, using bbSOL requires a solid understanding of staking mechanics, as it involves conversions between SOL and bbSOL. Additionally, its performance is closely tied to the health of the Solana network, which investors must consider when evaluating risks and rewards.

For investors seeking yield generation without sacrificing liquidity, bbSOL offers an elegant solution. With integration across 16 distinct platforms and use cases, it's especially valuable for those looking to maximize the productive potential of their SOL holdings while maintaining flexibility.

bbSOL offers users the best of both worlds: steady staking yields and complete asset flexibility. Through 16 distinct use cases across Bybit's CeFi products and Solana's DeFi ecosystem, holders can maximize returns through trading, lending, yield farming and restaking — all while their base staking rewards continue accumulating.

16 Key Uses for bbSOL on Bybit: Trade, Lend and Earn With Flexibility

Compete for 2,500 USDT Every Week

Earn Points by Completing Tasks

Event Rules

Register now and get 10 points

Write/Reply Comments (0/5)

Publish an Article (0/5)

Share an Article on Social Media (0/5)

Like an Article (0/5)

Read an Article (0/5)

Weekly Leaderboard