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Crypto exchange Bybit has announced that by the end of May 2025, it will be sunsetting several Web3 offerings. This change is a reflection of a wider adjustment to improve the use of easier-to-obtain ratings and increase the focus of those writing strategy on the most valuable parts of the blockchain. In a release issued on April 16, the announcement details an operational realignment focused on long-term scalability and platform utility.
Bybit’s internal communication stresses a focused return to “growth and innovation in the on-chain ecosystem.” The shift is part of the firm’s overall strategy to simplify its services in order to provide a more integrated user experience and to reiterate its position in decentralized infrastructure.
Wallets, Trading Tools, and Marketplaces Among Services to Sunset
A decommissioning of both the Cloud Wallet and Keyless Wallet will occur on May 31, 2025. Users holding assets in these wallets have been advised to move all tokens, non-fungible tokens (NFTs), and inscription assets to the Bybit Funding Account or Seed Phrase Wallet before the deadline. If asset migration is not completed, identity verification processes would be performed, and access could be disrupted.
Several Web3-focused products will also be closed, apart from wallet services. These include:
DEX Pro platform
Swap & Bridge function
Bybit NFT Marketplace
Users will not be able to access their NFTs if not retrieved before the shutdown, and all marketplace infrastructure will be disassembled, effectively irreversibly losing these assets.
The following services had already been discontinued as of April 8:
NFT Pro
Inscriptions
ApeX
Buy Crypto
Platform for Initial DEX Offering (IDO)
Additionally, the Web3 Points program is set to end on 28 April 2025
Core Infrastructure and Staking Utilities Will Continue to Operate
Most features will continue functioning despite widespread service reductions! Staking products, DApps, and the Airdrop Arcade are still available. Seed phrase wallets are unaffected and continue to work as expected.
A Bybit spokesperson commented,
“This streamlining effort comes in the purpose of maximizing platform efficiency and reallocating technical resources towards scalable on-chain solutions.”
A private key export option will soon be added to Keyless Wallets support. Users will also be able to access wallet funds through third-party platforms. After exporting the key, the Keyless Wallet will be deleted, and Bybit will no longer have any control or backup of users’ keys.
Current Price and Future Expectations for Bybit Staked SOL (BBSOL)
According to BeInCrypto, the current price (April 17, 2025) for Bybit Staked SOL (BBSOL) stands at $142.17, and the trading volume over the past 24 hours has been roughly $6.67 million. Offering a market capitalization of approximately $176.07 million, the circulating supply remains at 1.24 million BBSOL.
BBSOL Price Predictions: 2025–2030
Historically, BBSOL is projected by several crypto analytics platforms to experience steady growth over the next five years. Minimum, average, and maximum prices for the forecast are as follows:
| Year | Minimum Price | Average Price | Maximum Price |
| 2025 | $125.25 | $279.55 | $307.11 |
| 2026 | $301.88 | $327.75 | $362.96 |
| 2027 | $413.87 | $485.32 | $504.88 |
| 2028 | $539.56 | $629.05 | $639.97 |
| 2029 | $539.56 | $629.05 | $639.97 |
| 2030 | $665.76 | $743.99 | $766.20 |
Bybit’s Move Seen by Industry Analysts as a Strategy to Promote Consolidation
The recalibration at Bybit reflects a wider trend in the cryptocurrency sector, with exchanges retracting experimental features to fortify infrastructure and regulatory compliance. A more aligned ecosystem could lead to stronger platform trust and technical robustness, analysts have suggested, as fewer services open them up to attack.
Commenting on the development, Bybit asserted that while the ruling affects NFT and DeFi traders, it reaffirms the cryptocurrency exchange’s focus on strengthening decentralized services that resonate with the evolving needs of the market in the multi-year horizon.
Conclusion
Bybit is slowly backing away from various Web3 features — and it’s a strategic pivot, not a retreat. Having preserved its fundamental offerings and promising better wallet protection, the exchange seems to be vying for widespread growth across blockchain environments. They instead advise asset holders to take decisive action to maintain access in order to prevent losses that cannot be undone.
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FAQs
1. What services is Bybit shutting down, and when?
Due to strategic realignment, Bybit will terminate the affected services, such as Cloud Wallet, Keyless Wallet, DEX Pro, and NFT Marketplace, by May 31, 2025.
2. What should users do if they have assets in the affected Bybit wallets?
The cut-off date to migrate all assets, including NFTs and tokens, to your Funding Account or Seed Phrase Wallet is tentatively set to October 2023; after that, the assets will be irreversibly lost.
3. Will some Bybit Web3 features be operational after the shutdown?
Yes, services including Airdrop Arcade, staking products, DApps, and Seed Phrase Wallets will continue to function as expected post 31 May 2025.
4. What occurs if assets get stuck before the shutdown?
Assets that are unmoved will not be available. Users may experience delays, coerced verification steps, or a permanent loss of access to their NFTs and tokens.
Glossary of Key Terms
1. Cloud Wallet
A type of wallet managed by a third-party custodial provider, such as Bybit, is used to store and manage digital assets without having users manually manage private keys.
2. Keyless Wallet
A non-custodial wallet solution that eliminates the requirement for users to retain private keys. Access is typically controlled through secure device authentication or biometrics.
3. Seed Phrase Wallet
A non-custodial wallet secured with a seed phrase gives users sole custody of their assets and does not place their access in the hands of a centralized service.
4. NFT (Non-Fungible Token)
A one-of-a-kind digital asset on the blockchain that shows proof of ownership for assets including artwork, music, or memorabilia. NFTs are unique and unduplicatable; they are indivisible.
5. DEX (Decentralized Exchange)
Some kind of decentralized exchange (DEX) that enables peer-to-peer crypto trading without a trusted central authority. Bybit’s DEX Pro facilitated on-chain trading independent of traditional centralized structures.
6. Swap & Bridge Service
This tool enables users to convert tokens from one blockchain to another (bridging) or to swap them on the same chain, which facilitates cross-chain interoperability.
7. IDO (Initial DEX Offering)
One of the fundraising methods is through which a new token is launched directly on decentralized exchanges. With IDOs, projects raise capital while giving immediate access to trade the tokens.
8. Web3 Points Program
A user rewards program in Bybit’s Web3 ecosystem awarded users points based on activity on the platform, which were redeemable for benefits or entry into events on the platform.
