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.

At the start of the week, Bitcoin showed signs of decoupling from US equities. However, US president Trump's positive remarks about the US-China trade war (which had included a 145% tariff on Chinese goods) triggered a relief rally across markets. As a result, BTC has resumed moving up with US equities. 

This rally has led to a rise in short-tenor implied volatility and a recovery in BTC’s put-call skew, indicating that traders are seeking upside exposure.

Please check out the report’s highlights.

Perp open interest rises across the board

Perpetual open interest increased significantly this week across various tokens, especially ETH. Perpetual trading volumes also rose. Notably, Ap 7, 2025 recorded the highest trade volume of the month, following Trump's comment, "Forget markets for a second, we have all the advantages."

BTC option open interest shows a mixed picture; put-call skew in short tenor sends positive signals

President Trump’s recent willingness to negotiate a trade deal with China’s President Xi triggered a relief rally across asset classes, including crypto. Bitcoin had already risen 7% since Apr 21, 2025, prior to Trump's comments. Despite this rally, open interest in puts has outpaced calls, with options volume remaining relatively balanced. 

It's unclear if the demand for puts reflects a hedge against downside risks, or a bet against the upward movement. Meanwhile, perpetual funding rates are providing limited insight into sentiment. However, the recovery of the put-call skew at short tenors indicates that traders are seeking upside exposure to the rally — and are willing to pay for it.

ETH unexpectedly outperforms BTC in this relief rally

ETH's response to the recent crypto market recovery has diverged from previous trends: it outperformed BTC in spot prices, a rarity in past rallies, and open interest in calls exceeds that in puts — opposite to BTC's trend. In addition, ETH call open interest is nearly double that of puts, with calls dominating options volumes. This suggests traders anticipate ETH will reduce its significant underperformance against both BTC and other “ETH killers” like SUI and SOL. Additionally, the spot rally has led to another term structure inversion for ETH.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 24, 2025): Put-call skew recovers at short tenors, showing reviving sentiment

Explore all the hottest Bybit events happening during the week of TOKEN2049 Dubai in this article.

It’s that time of year again — TOKEN2049 Dubai is back, and the city is buzzing with excitement. As one of the most anticipated events on the crypto calendar, it’s not just about the main conference; it’s about everything happening around it, too. From side events and workshops to exclusive mixers and demo days, Bybit is showing up in full force this year. Here's your inside look at what to expect during this action-packed week.

The heart of TOKEN2049 Week, TOKEN2049 Dubai promises two full days of future-facing discussions and innovation in the world of crypto. At the center of it all is Bybit’s immersive booth experience, built on the theme 

. It’s not just a theme — it’s a vibe. Picture claw machines, 

If you’re heading to TOKEN2049 Dubai, be sure to drop by the Bybit booth (located at P33) and chat with our extraordinary Bybit team! And don’t miss your chance to grab a gacha token by scanning our QR code with Bybit Pay. You could walk away with exclusive Bybit merch! 

DMCC x VARA: Crypto regulations and business growth

Policy meets progress at this exclusive evening event co-hosted by DMCC and VARA. This gathering brings together regulators and industry leaders for an open discussion on the future of digital asset compliance and business growth in the region.

You can expect sharp insights, candid perspectives and forward-thinking dialogue about what it really takes to scale a crypto business in a regulated environment. If you care about the future of web3 in the UAE, this is one event to mark on your calendar.

Bybit After Hours: Exclusive Insights & Networking 

 is a private cocktail evening for top-tier traders and long-time supporters of Bybit. This event is equal parts networking, knowledge sharing and celebration.

 to strategic conversations with the Bybit team, this night is tailored to those who trade big and think bigger. With an invite-only guest list, it’s set to be one of the most exclusive experiences of the week.

The Crypto Hub x Bybit Crypto Ark Demo Day

 is all about bringing hands-on energy to the web3 scene. Hosted at the Crypto Ark inside Bybit’s office, this event welcomes founders, devs and crypto creatives for a casual evening of product showcases, idea exchange and light networking.

While Bybit provides the space, the real spotlight is on the community — those shaping the next wave of innovation in web3.

 from across the CIS region are gathering for a deep dive into the tools, tips and strategies that drive growth at Bybit. This meetup goes beyond surface-level sharing — expect actionable workshops covering our Bybit Affiliate program and affiliate best practices.

It’s also a chance to hear directly from Bybit product leads and regional managers, share success stories and walk away with fresh ideas to maximize conversions. 

Wunderbit x Bybit: “Hey, Trading Bot, where is my profit?”

 are here to stay — and this event is going deep into what makes them tick. Co-hosted by Wunderbit and Bybit, the evening workshop blends honest stories from real traders with expert insights on how to avoid common automation pitfalls.

From bot setups that work to the ones that quietly drain your profits, this is your chance to ask the tough questions, hear unfiltered answers — and maybe rethink how you’re running your own bot strategy.

 (RWAs) are taking center stage at the RWA Gulf Summit, a high-powered event co-hosted by Qatar National Bank, Commercial Bank International and DMZ Finance. This summit brings together bank leaders, wealth funds, participants in DIFC, institutional investors and industry pioneers to explore the evolution of tokenized finance in the Middle East and beyond.

Bybit’s Head of Financial Products Jerry Li will take the stage to discuss how 

 (CEXs) can harness RWAs for enhanced yield and 

Dubai's Pinnacle Mixer: Mantle, Mirana, Bybit and Ethena

High above the city, this mixer brings together some of the biggest names in web3 — Mantle, Mirana, Bybit and Ethena. Expect an unforgettable evening of casual chats, cross-chain connections and cocktails with the minds behind some of today’s most innovative projects.

This private event is all about experiencing Bybit Pay in action. See interactive demos, grab a sneak peek at upcoming partnerships and network over bites and drinks. It’s a rare behind-the-scenes look at the way Bybit is shaping the future of crypto payments. 

Wrapping up the week is the Bybit Institutional Symposium — a full-day event dedicated to aligning strategies with institutional clients and forging new collaborations. From macro views to product deep-dives, this conference is built to spark big conversations among serious players.

The day concludes with a gala dinner, a fitting finale to a week in which ideas, connections and innovation have taken center stage.

Intermediate

Bybit Learn Highlights What to Expect at Bybit

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Highlights: What to expect at Bybit (Apr 28–May 2, 2025)

Balance (EPT) is revolutionizing web3 gaming with evolving AI companions, blending blockchain, strategy, and intelligent gameplay in one powerful platform.

Artificial intelligence (AI) agents are a key growth area within the blockchain industry. Projects like Artificial Superintelligence Alliance (FET), 

 (AI16Z) and countless others have been essential components driving the overall crypto market. As of April 2025, the CoinGecko portal lists more than 500 cryptocurrencies within its category of AI Agents. These intelligent assistants are now helping individuals and businesses analyze markets, create textual and visual content, automate work processes and trade profitably.

There's a further area where AI agents on the blockchain are flourishing: the world of 

 gaming. In this sphere, bots and agents based on AI algorithms are helping users develop the best in-game strategies, succeed in the competitive world of play-to-earn (P2E) and overcome key challenges in complex gameplay.

Balance (EPT) is a blockchain gaming project that takes the use of 

 to a completely new level. The creation of the team at the world’s largest social gaming platform, E-Pal, Balance offers players AI agents that can aid them in the in-game environment and serve as their personal companions. Based on a multi-layer architecture, the platform offers some of the most cutting-edge use cases for gaming-oriented AI agents.

 (EPT) is a web3 gaming platform that allows players to easily create, own and use AI companions within the blockchain games it supports.

 Balance supports a variety of first-party (internally developed) and third-party web3 games. You can deploy your AI gaming companions and they’ll act as your assistants, friends or co-players within Balance games.

Using Balance.fun, the platform’s primary web interface, you can create your AI agents and specify various details, such as appearance, personality and functions.

Balance isn’t just another obscure crypto gaming platform. The origins of the project date back to 2020, when the E-Pal social gaming provider was launched by four young California-based technology entrepreneurs — Brian Xiong, Tung Pham, Yuzhe Norris Wang and Yuanzhe Li. E-Pal quickly became a leading force in the newly emerging social gaming field, helping players worldwide find gaming companions. By early 2024, E-Pal had become the world’s largest gaming companion platform, boasting 4.2 million users and 450,000 Epals (gaming companions).

In February 2024, the E-Pal team focused its efforts on 

 and AI technologies, starting the development work on the Balance gaming platform. In September of the same year, Balance went live.

Per the project’s documentation, the platform operates on its own chain, Balance Chain, with 

 (AA) technology used for cross-chain communication. The fungible and 

 (NFTs) held by user accounts are based on the 

A key part of the Balance ecosystem is Key Nodes — purchasable 

 that help with the processing, storage and distribution of data required in the resource-intensive environment of web3 gaming. Some applied instances are the management of real-time leaderboards and the automatic distribution of loot and in-game currency. These nodes can also support the computational requirements of training AI models. As a reward for their work in supporting the platform’s operations, Key Nodes receive a wide range of rewards and benefits, including distributions of EPT tokens, the platform’s native cryptocurrency.

As the ecosystem develops, Key Nodes are envisioned to be involved in governance, 

 launch in September 2024, Balance introduced its Points System, designed to reward early contributors to the platform. During the campaign run in September, users could earn points by completing various specified tasks in various activities, such as joining the project’s social media pages or commenting and reposting.

The 400 users with the best performance in the Points System earned a whitelist spot to receive Pioneer Badge NFTs — distinct tokens that provide owners with early access to games, future campaigns, airdrops and beta testing opportunities. Pioneer Badge NFT holders can also enjoy other benefits, such as premium NFTs and voting rights on the Balance platform.

Balance’s platform provides a set of tools to create and use intelligent companions for Balance-based games. You can design your AI companions by specifying their key traits and behaviors through custom prompts and strategies. The AI agents on Balance can assist you in battles, gaming contests, learning, routine task execution and interactive entertainment.

Balance’s platform is made up of five key layers, each one serving a specific purpose in supporting its user and developer communities. At the top of the architectural stack is the application layer, which acts as the main interface for users to interact with human and AI companions and the wider Balance community.

The application layer also contains the AI Battle Reporting System, which is designed to give users feedback and analysis tools on their performance in the platform’s gaming ecosystem. AI technology is leveraged here to provide personalized analytics and performance improvement recommendations.

A range of NFTs are also part of the layer. These include in-game asset NFTs, as well as 

 (SBTs) that serve as summaries of the holder’s achievements.

The platform layer hosts the various games within the Balance gaming universe. These include both internal games and third-party games that have partnered with Balance. The key concept uniting all of the games is the active integration of AI companions and AI players, making the platform a unique environment in which humans and AI agents play, interact and compete.

The platform layer also features an AI-driven NFT launchpad that offers a rich tool set for creating personalized NFTs for games and applications. These NFTs can be traded on Balance's NFT marketplace, which is also an integral part of the platform layer.

The protocol layer includes a trio of critical protocols — the Fans Protocol, Epal Fan Token (FT) Exchange Protocol and Asset Protocol. The Fans Protocol lets players launch and manage their Fan Tokens, creating opportunities for influencers and community builders to tokenize their efforts and launch high-potential crypto assets. Meanwhile, the Epal FT Exchange Protocol facilitates the management of (and trade in) Fan Tokens.

The third protocol, Asset, is used for the comprehensive management of a wide range of digital assets on Balance, providing easy-to-use tools for asset creation and trading.

The token layer is designed for core operations involving the platform’s native EPT token. This layer supports the use of EPT for in-game purchases, access to services and AI companions, Fan Token minting and trading, in addition to other functionalities.

This is the underlying infrastructural layer that powers the platform’s operational mechanism. It can be described as Balance's operating system, and is made up of several critical components: the node system, the Balance 

, the Balance Chain network and the platform's unique ID system.

The node system provides the computational and storage resources to power games and other functionality on Balance. In addition, the system acts as a key connecting medium between Balance Chain and the AA functionality that lets the platform enjoy cross-chain capabilities.

The Balance stablecoin, also part of the infra layer, is designed to reduce volatility and bring rate stability to the platform's gaming ecosystem. The Balance stablecoin system helps players engage in asset trading without the fear of wild market fluctuations, an important consideration in the 

Designed to support multiple chains, Balance Chain operates based on dynamic protocol adaptation, automatically selecting the optimal blockchain platform according to user preferences and needs. This dynamic adaptability is designed to reduce costs, improve operational speed and enhance overall security for users.

The final major component of the Balance infrastructure layer, the Balance ID system, is a unified and secure user authentication and identity management solution. To be introduced later in 2025, the ID system will let users access all services and games within the Balance ecosystem via a single set of cross-platform decentralized credentials. In addition to human players, also AI companions will have their unique IDs.

EPT is the native cryptocurrency of Balance. Although the platform has been operational since 2024, the EPT token was just launched on Apr 21, 2025, with a total and maximum supply of 10 billion. It was issued on two major blockchains — Ethereum and BNB Chain. EPT has a wide range of functional use cases on the platform, including the following:

The EPT token's supply allocation is per the chart below.

 as a swap pair with USDT, and through the exchange's 

 based on USDT. You can also take advantage of Bybit’s campaign dedicated to the token to grab a share of the 

Under the terms of the event, new users can earn EPT rewards by accumulating a deposit volume of at least 3,000 EPT, or by depositing at least 100 USDT and trading 100 USDT worth of EPT via their first spot trade with Bybit. Meanwhile, existing users can qualify for rewards by trading at least 500 USDT worth of EPT on Spot. The event is valid through May 5, 2025, 9AM UTC.

As of Apr 25, 2025, the EPT token has been on the market for only four days, and is trading at $0.0117, which is 26.4% lower than its ATH of $0.01708 on Apr 21, 2025, and 11.4% higher than its ATL of $0.01129 on Apr 22, 2025.

Long-term price forecasts for EPT are mostly bullish. DigitalCoinPrice 

 of $0.0412 in 2027 and $0.0615 in 2030, whilePricePrediction 

These and other emerging long-term forecasts for the token don't constitute investment advice. Given EPT's extremely short history on the market so far, 

 on the token's future prospects, carefully assess market fluctuations within the crypto gaming niche and consider all other relevant factors before investing in it or any other cryptocurrency.

Capturing emerging market trends and sensing the broader market conditions, the team at E-Pal recognized the tremendous potential of gaming companions back in 2020. Four years later, E-Pal realized that the new market dynamics in gaming called for something even more innovative — the use of AI companions, in addition to fellow humans. The resulting product, the Balance platform, is now racing to stake the claim to the best web3 gaming environment supported by AI agents.

The platform's unique features — cross-chain functionality supported by an AA mechanism, a dynamic exchange system that selects the best network for users' transactions and, most importantly, intelligent AI companions — can certainly help establish Balance as a leader in this niche of web3 gaming.

AI agents are taking the gaming industry by storm, with blockchain technology acting as a powerful enabler of these intelligent friends of ours. The Balance gaming universe — supported by the proven track record of E-Pal — has a great chance of becoming the go-to environment in which to befriend your next artificial gaming partner.

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Balance (EPT): Revolutionizing web3 gaming with evolving AI companions

Mantle has launched the Mantle Index Four (MI4), an institutional-grade fund providing diversified exposure to yield-bearing digital assets. 

The S&P 500 rose 2.03% on strong Alphabet earnings and optimism over a possible Fed rate cut. Gold jumped 1.5% to $3,338 as trade tensions rose and a weaker dollar, along with falling yields, boosted demand. Fed rate cut signals also supported the rally. The Coindesk Indices, which tracks the broader crypto market, rose 0.74%, with Bitcoin up 0.06% and Ether down 1.89%, 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 INIT, up 15.4%, following the launch of Initia, which aims to revive the appchain concept with an interconnected network and an INIT token airdrop.

Initia (INIT), founded in 2022, is a modular blockchain platform that combines a Layer 1 network with customizable Layer 2 rollups, enabling scalable decentralized app development. It offers flexibility in virtual machines, gas tokens, and transaction systems, while ensuring interoperability and addressing issues like liquidity fragmentation and network congestion. Initia has 

 to revive the appchain concept by offering a network that integrates appchains in a cohesive, interconnected way. The platform emphasizes full-stack control for apps, avoiding fragmentation. Initia is also launching an airdrop with claims available until May 24, 2025. The native token, INIT, has a fixed supply of 1 billion, distributed across eight categories.

Check out the latest prices, charts, and data of 

, an institutional-grade fund providing diversified exposure to yield-bearing digital assets. In partnership with Securitize, which has tokenized over $3B in assets, the fund aims to fill a market gap by offering native yield generation in a traditional fund format. Mantle Treasury has committed up to $400M as the anchor investment. The fund will rebalance quarterly and incorporate DeFi-native staking strategies, such as mETH and bbSOL, while ensuring investor protections. MI4 targets both crypto-native and traditional investors, with Phase 1 rollout scheduled for Q2 2025.

Yesterday, BTC spot ETFs saw a total inflow of $114.7 million, all from non-GBTC funds, while GBTC recorded no flow.

Dolomite, the 10th largest DeFi lending app, is launching a 200M token 

 (20% of total supply) during its TGE on April 24, rewarding users based on platform usage. The DOLO token powers a three-token system alongside oDOLO and veDOLO, enabling incentives, governance, and potential revenue sharing. With over $800M in TVL, Dolomite expands to Berachain, integrating with its Proof of Liquidity system to offer advanced lending features and asset utility.

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Mantle launches MI4 fund for institutional-grade digital asset exposure and yield generation

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Altcoins

Golem Network is an Ethereum-based DApp that enables decentralized trading of computing resources.

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Decentralized sharing of computing power is among the most innovative solutions that blockchain technology offers. Over the past few years, numerous projects focused on bringing together buyers and sellers of computational power over a blockchain network have emerged. This new category of the blockchain ecosystem, DePIN (

), is among the fastest-growing niches in the industry. The origins of the DePIN concept, however, predate even the 

 (ETH) blockchain itself, the network of choice for most of these projects.

Back in late 2014, a few months before the launch of Ethereum, programmer and blockchain enthusiast Piotr Janiuk presented the initial idea behind Golem Network (GLM), a DePIN system designed to support a decentralized computing power marketplace. The pioneer of the concept, the Golem Network project, was eventually founded in 2016 and launched on Ethereum in 2018. 

To date, Golem Network remains one of the foremost innovators in the DePIN sector, with the project introducing a scalable 

 (AI) road map in early 2024. The concept of trading computational resources, such as GPU, CPU, memory or storage over a decentralized platform, truly emerged with the arrival of Golem Network.

 (DApp) designed to facilitate the flexible trade of computing power and resources over a blockchain network. 

Golem is a classic example of the DePIN concept, having pioneered it within the blockchain industry. The origins of the project date back to November 2014, when a number of blockchain technology visionaries and enthusiasts, including industry heavyweights like Vitalik Buterin and Gavin Wood, gathered in Berlin for the Devcon 0 conference.

Devcon 0 was dedicated to the exploration of the Ethereum blockchain concept, which was eventually launched the following year, and involved a small number of presentations on early ecosystem projects. Among the projects presented was Golem Network, an innovative idea for using the Ethereum blockchain to power the flexible sharing of computing resources.

After years of research and development, the Golem Network project was eventually founded in 2016 by Golem Factory. The project's Ethereum mainnet was launched in April 2018 to support the affordable and flexible trade in computing capacity between resource requesters and providers. Golem Network quickly became a viable alternative to the more expensive and restrictive cloud computing services provided by centralized entities.

The platform's initial native token was GNT. In November 2020, the project announced a migration of the GNT token to the new GLM token to improve its functionality. In late 2021, Golem added support for Layer 2 operations by establishing its presence on the 

 (POL) platform, a popular Layer 2 sidechain for Ethereum. Golem now supports transacting on Ethereum 

 and on Layer 2 through Polygon. The latter option provides significant scalability and cost savings for users.

Golem, however, isn't just a medium for exchanging computing resources: the network's ecosystem now features several DApps and solutions that streamline resource sharing, enable AI applications and even offer crypto portfolio management. For instance, the 

 project is among the first machine learning (ML) algorithm training solutions leveraging Golem. Another innovative DApp within the Golem ecosystem is 

, also known as Blockchain Automations, a 

 (DeFi) solution for automated portfolio management.

As a trailblazer of decentralized trading in computing power, Golem Network was among the top DePIN projects a few years ago, often viewed as a key competitor to another major early DePIN platform — 

 (RNDR). However, fierce competition in this sphere and the rise of other DePIN players over the past three years have dropped Golem to 16th place by market cap in the DePIN category (as of Sep 4, 2024). Even though Golem is no longer a full-fledged category heavyweight, it remains a historically significant project in the blockchain industry.

There are two key types of network actors on Golem: computing resource consumers, called 

. Requestors provide their requirements by filling out a task template in which they indicate what kind of hardware resources they need. Meanwhile, Providers join the network and offer their services to complete the tasks submitted by Requestors. In most cases, you don't need to run a high-powered machine to act as a Golem Requestor. Any laptop or desktop with relatively modern specifications can be used to provide services on Golem Network.

Providers earn rewards in GLM tokens for their resource contributions. They’re free to set their own rates for these contributions. Naturally, the rates set by Providers are one of the variables used by Requestors in their selection process. In addition to the rates charged, other selection factors frequently used by Requestors include the number of processor cores offered, the Provider's reputation and history of performance, and the urgency of the task.

While Golem doesn't require particularly onerous hardware specifications, some minimums that Providers must meet include a Linux machine with the x86-64 architecture and the nested virtualization option enabled in the machine's basic input/output system (BIOS). These basic requirements apply to standard CPU capacity sharing.

Since early 2024, Golem Network also offers GPU capacity sharing, specifically tailored for AI use cases. Providers who would like to provide GPU power to the network must meet higher minimum requirements, including more advanced specifications for storage and video cards.

In early 2023, Golem Network floated the idea of GPU capacity-sharing as a proof of concept (PoC). Since early 2024, the project has begun to offer the decentralized trade in GPU power to support resource-intensive AI computations.

As the AI field within the blockchain industry experiences explosive growth rates, many DePIN projects have launched their AI-focused products. Golem Network hasn't remained indifferent to these developments, introducing its updated GPU/AI road map in early 2024. The project aims to offer several dedicated solutions for AI applications. Among these are Modelserve AI and Golem-Workers.

Modelserve AI is a platform to let AI developers affordably run their models at scale, while Golem-Workers is an API that lets Requestors access dedicated high-level nodes to process and fine-tune AI models.

We noted above that Golem hosts not only a 

 marketplace for computational tasks, but also a variety of DApps and solutions based on the platform's technology. Below are some of the more notable among these solutions.

 is a popular Python-based distributed computing framework designed for AI and ML applications. Given Ray's focus on these fast-expanding fields, applications utilizing the framework often require access to significant computing capacity. Quickly scaling the applications to meet fluctuating demands is also a frequent requirement.

Ray on Golem is an integration of the framework with the Golem platform. Python developers can use it to access Golem's computing resources in order to run computations within their apps. This expands the use cases and reach of Ray-based apps, with more robust solutions and AI models now available through the highly popular framework.

 is an interactive computing environment that lets users create and share documents containing programming code, textual information, media files, visualizations and other pieces of digital information. Thanks to its interactivity and capacity to accommodate various media types, Jupyter is a highly popular tool for programmers and software testers, especially for tasks like prototyping, collaborative development, debugging and testing.

The Jupyter on Golem solution integrates Jupyter's Python version on Golem Network, empowering Python-based Jupyter documents to utilize the computing capacity offered by Golem. This is particularly useful for collaborative work when developing large-scale, resource-hungry Python applications.

Rendering is another area in which Golem Network has use cases and applications. Computer rendering is the process of creating finalized 3D visual outputs (e.g., images, animations and videos) from initial specifications, and modern, visually rich rendering requires a lot of processing power.

 to help the project render personalized videos and animations of buildings for its NFT users. Building co-owners and holders of the associated Reality NFTs can now generate building animations containing their personalized information, such as a building nameplate with their nickname, wallet address and share amount. Golem Network is the underlying technical solution that works in the background to power these animations seamlessly.

Golem's reputation system is a form of sophisticated 

 (DID) solution. It assigns reputational scores and properties to Golem Providers. These properties are based on Provider nodes' historical performance on the network, in addition to technical infrastructure capacity and other factors. The reputation system makes it easy for Requestors to identify reliable resource providers.

Currently, Golem's reputation system exists only for Providers, but there are plans to introduce a similar identity and scoring solution for Requestors, as well for a more balanced ecosystem.

Golem Portal provides an easy-to-use graphic interface for accessing the platform's services and DApps. Instead of using command-line options, developers and users can take advantage of Golem Portal to launch apps with just a few clicks. The portal also provides visualizations that show the steps for launching Golem apps and services; the number of active Providers on the network; and other useful platform-wide information.

 token on the Ethereum and Polygon chains. GLM is primarily used to facilitate the trade in computing power on Golem Network. Requestors pay in GLM for access to hardware resources, while Providers are rewarded in GLM for providing the resources. GLM is also used for 

Golem's original token, GNT, was issued on Ethereum back in 2016, when the blockchain's ERC-20 standard for fungible tokens hadn't yet started to gain real traction among developers. As such, the GNT token itself wasn't based on the ERC-20 standard. As the standard became popular, GNT's lack of compatibility with the standard became a serious limitation for the Golem project. In particular, Golem's plans to utilize Layer 2 processing through Polygon were hampered because GNT wasn’t an ERC-20 asset.

As a result, in late 2020, Golem Network announced a migration from the original GNT token to the ERC-20–based GLM. This migration allows GNT holders to swap their tokens for GLM at a fixed ratio of 1:1. The migration has no deadline, although most GNT tokens have already been converted to GLM as of early September 2024.

The new GLM token has inherited most of GNT’s tokenomics properties. It has a total and maximum supply of 1 billion. 

The original GNT token was allocated via three main streams as follows:

You can stake your GLM tokens to earn passive income. It’s a great way to boost earnings from GLM for resource providers or, in fact, anyone who holds GLM tokens as an investment. 

There are several options for the GLM staking process, including solo staking, staking pools and staking-as-a-service. Since Golem Network is an Ethereum-based DApp, your staked GLM is converted to ETH at the underlying level to help secure the blockchain's 

The GLM token is available on Bybit via its Derivatives market as a Perpetual futures contract with USDT (

). Bybit's Derivatives market allows you to trade hundreds of crypto assets with low fees and up to 100x leverage, depending upon the asset chosen. There are markets for Perpetuals, standard Futures and Options, with contracts based on popular stablecoins — USDT and USDC — as well as a range of other popular high-cap cryptos.

As of Sep 4, 2024, the GLM token's market value is $0.2669, which is 79.8% lower than its ATH of $1.32 on Apr 13, 2018, and over 2,800% higher than its ATL of $0.009138 on Dec 12, 2016.

Long-term price forecasts for GLM are generally bullish. PricePrediction 

 to trade at $0.52 in 2025 and $3.22 in 2030, while DigitalCoinPrice 

Depending upon your investment preferences and goals, you might consider the GLM token for the following reasons:

Large-scale applications in AI, ML and other fields that demand heavy-duty computations now rely a lot on the distributed processing model. These applications make extensive use of cloud services in Web 2.0, as well as DePIN networks in 

. Golem Network, a project that laid the foundation stone for the DePIN concept, continues to thrive and innovate in this environment.

Golem is no longer as dominant a force in its niche as it was in the early years of DePIN platforms. At #16 in market cap rankings, it can be best described as a medium-sized DePIN player. However, its time-tested nature and the capacity to regularly introduce new features still attract nothing but admiration. 

Decentralized hardware capacity-sharing started with Golem, and the project will undoubtedly play a key role in this sector of the blockchain industry for years to come.

Golem Network (GLM): A Decentralized Supercomputer Redefining Computation

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Golem Network (GLM): A Decentralized Supercomputer Redefining Computation

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards