Bybit EU Expands Crypto Offerings with Impossible Cloud Network Token (ICNT) Listing and 300,000 Token Promotion

Bybit EU has strategically expanded its cryptocurrency offerings by listing the Impossible Cloud Network Token (ICNT), a move that underscores the exchange's commitment to decentralized cloud infrastructure solutions. The ICNT/USDC spot trading pair will be available starting July 31, with deposits opening on July 30 and withdrawals commencing on August 1. To celebrate the listing, Bybit EU is launching a two-tiered promotional campaign, offering a total of 300,000 ICNT tokens to participants. This development highlights Bybit's continued efforts to diversify its platform and provide innovative opportunities for its users in the rapidly evolving crypto space.

Bybit EU Lists Impossible Cloud Network Token (ICNT) with 300,000 Token Promotion

Bybit EU has added Impossible Cloud Network Token (ICNT) to its platform, marking a strategic expansion into decentralized cloud infrastructure solutions. The exchange will enable spot trading for the ICNT/USDC pair starting July 31, following deposit availability on July 30 and preceding withdrawal activation on August 1.

The listing coincides with a two-tiered promotional campaign totaling 300,000 ICNT. New users can claim fixed rewards through onboarding activities, while all traders become eligible for volume-based allocations from a 150,000 ICNT pool. The initiative underscores Bybit's aggressive user acquisition strategy in competitive EU markets.

ICNT serves as the economic backbone for a composable cloud protocol challenging centralized alternatives like AWS. Its network functionalities include storage allocation and compute task execution - critical components for decentralized infrastructure services.

Bybit & Block Scholes Report Highlights Bearish Signals in BTC and ETH Options Despite Bullish Perpetuals

Bybit, the world's second-largest crypto exchange by volume, partnered with Block Scholes to release a derivatives report revealing a stark divergence in market signals. While perpetual swap funding rates remain positive across major assets, short-term options pricing shows growing bearish sentiment among traders.

Bitcoin faces stiff resistance at $120,000, struggling to break free from its $115K-$120K range after a July 25 sell-off linked to a Satoshi-era wallet moved 80,000 BTC. The event triggered a surge in open interest, with BTC and altcoin perpetuals exceeding $15.5 billion in trading activity.

Ethereum maintains relative strength in spot markets, gaining 3.5% last week to hover NEAR $3,800. However, options traders appear to be cooling their bullish stance despite ETH's outperformance against Bitcoin.