Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. 

The S&P 500 futures fall 1.5% amid US-China trade concerns and Fed warning; over 100 companies will report earnings this week. Gold hit a record ~$3,375, up 1.43%, on safe-haven demand amid tariff and geopolitical worries. Fed hawkishness may cap gains. CoinDesk Indices, which tracks the broader crypto market, rose 1.80% in the past 24 hours, while Bitcoin and Ether gained 2.70% and 3.41%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is STX, up 9.4%, following the announcement of Stacks gaining institutional support with major exchange listings and custodian backing.

Stacks (STX), founded in 2013, is a cryptocurrency project that enhances the Bitcoin blockchain by enabling decentralized apps (DApps) and smart contracts without altering Bitcoin's features. It operates as a Bitcoin Layer 2 (L2) blockchain, ensuring security through Bitcoin while allowing developers to build modular applications on top of the network. 

 with its listing on top 15 exchanges, the launch of the Grayscale STX Trust, and support from top-tier custodians like BitGo, Copper, and Figment.

Check out the latest prices, charts, and data of 

Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. This proposal is part of a broader trend, with Canary also seeking approval for ETFs based on assets like XRP, Solana, and Sui. The fund would aim to provide exposure to Tron’s price, but the SEC has yet to approve staking in crypto ETFs. This move follows the success of Bitcoin and Ethereum ETFs, which have attracted significant institutional interest.

During the week of April 14–18, 2025, U.S. Bitcoin spot ETFs recorded a modest net inflow of $13.7 million, entirely from non-GBTC products, as GBTC saw no activity. Since inception, total net inflows have reached $35.5 billion, with non-GBTC ETFs contributing $58.3 billion and GBTC experiencing $22.8 billion in outflows.

Orochi Network airdrop participants can now 

 their earned $ON tokens on the Monad Testnet to increase their Bonus Level and earn rewards faster. A minimum of 50 ON is required for the first claim, and subsequent claims have no minimum. New users can still join by signing up and starting the Prover. Daily check-ins open at 6 AM UTC and fill up quickly.

Beginner

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Canary Capital files for SEC approval of Tron ETF with staking benefits

There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert. Learn more here.

 that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.

In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.

Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.

 allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.

There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.

If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.

If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.

Steps for buying USDC via the standard P2P option

2. How to buy USDC via Bybit One-Click Buy

The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to 

 while you order and wait for your physical card to arrive. 

It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.

 lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.

If you have non-USDC crypto funds in your account, you can take advantage of the 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.

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A complete guide on how to buy USDC on Bybit

Apr 21, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

Advanced

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Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

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Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Crypto

Investing

Tokens are all the rage now in crypto, but how do you decide whether to invest in one? In this article, we look at the different factors to consider.

Before investing in a cryptocurrency, it’s recommended you make an analysis of it in order to manage the risk of your investment. Such analysis requires scrutiny of that cryptocurrency’s main aspects. However, investors are not limited to investing only in cryptocurrency coins but also in tokens. These tokens have value, too. When you conduct an analysis into whether or not you should invest in a token, that’s 

Tokenomics elides the words “token” and “economics.” It means analyzing why a token has value, and why it’s reached the price that it has. By looking at various factors which define the world of cryptocurrencies, tokenomics provides an answer to the economizing problems of tokens and their functionality in blockchain technology. But before diving into the world of tokenomics, let’s briefly explain tokens.

Tokens are units that are used for a specific purpose and have a value based on their characteristics. Tokens are usually considered as valuable assets that serve more than just a currency. For instance, football tickets can be considered as tokens, because they can either be used to go watch a football match, or traded for something else.

In the same sense, tokens can be found in cryptocurrencies as well. These tokens can have various functions within a network besides being used only as trading assets. The concept of tokens in cryptocurrencies grew larger with the creation of Ethereum. The Ethereum network was the first blockchain technology that offered more decentralized services to people, rather than just transactions. Just as transactions require money in order to be completed, these decentralized services in the Ethereum network require tokens. In the Ethereum network, these are known as ERC-20 tokens.

Tokens can be categorized into two main types: Layer 1 and Layer 2.

Layer 1 tokens are native to a particular blockchain, and can be used for fueling every service within it. Two examples of Layer 1 token in cryptocurrencies would be Ether (ETH) on the Ethereum network and BNB in the Binance chain.

Layer 2 tokens are used for decentralized applications within a network. For instance, OMG tokens are Layer 2 because they’re used for OmiseGO, which is a decentralized project within the Ethereum network.

Another way of classifying tokens is based on their usage. There are two types of tokens: security and utility tokens

Security tokens are considered investment contracts. To be considered as investment contracts, these tokens need to entail a money investment, profitability and common enterprise — and to come from the computational efforts of others. This process of contract verification 

 the Howey Test. Hence, tokens that pass the Howey Test are considered security tokens. An example of a security token would be the way Siafunds (SF) work on the Sia network.

Utility tokens are those tokens that ensure the financing of a network. Usually, utility tokens are given out through 

 initial coin offering (ICO) in order to fund development of the project. For instance, the Basic Attention Token (BAT) is a utility token that was initially distributed through an ICO. It can now be used in decentralized advertising on the Brave browser, running on the Ethereum network.

Tokens can also be categorized as fungible or non-fungible.

Fungible tokens have the same value, and can be replicated. Since fungible tokens are the same for everyone, you can replace one ETH with another because they have the same value.

However, non-fungible tokens (NFTs) do not have the same value because each NFT is unique. NFTs are usually tokenized assets such as pictures, artworks, collectibles and real estate, etc. Since NFTs are unique they cannot be replicated. This can make their value higher than that of fungible tokens.

So, what are the similarities and differences between coins and tokens in the world of cryptocurrencies?

Tokenomics is the study of tokens, how they work, what purpose(s) they have and what factors need to be considered before investing in cryptocurrencies. This is where it derives its name.

More generally, tokenomics is anything that can influence the value of a token — including the token itself.

Which Tokenomics Factors to Consider When Investing

There are many factors which can determine the price of a token and a cryptocurrency. However, several of these factors are quite important to keep in mind if you want to invest.

When looking at a cryptocurrency, it’s important to look at the total supply of coins. Usually, cryptocurrencies that have a limited total supply may have an increasing value in the future. This happens because scarcity causes a shortage in the market. Shortage requires an increase in price in order to reach an equilibrium. 

On the other hand, if the supply is unlimited, the future price may not increase as much as it could if the supply were limited. 

The supply of a cryptocurrency has a strong correlation to 

. Market cap is the total amount of the 

 times the current price of one token. The fully diluted market cap is a hypothetical estimate of the market capitalization if the total supply of a cryptocurrency is in circulation.

Even if one cryptocurrency has a larger supply than another, it doesn’t mean that the market supply is necessarily bigger. The same can be said about the price of a cryptocurrency. A higher price doesn’t necessarily mean that the market cap of a cryptocurrency is larger than that of other ones.

Market cap is an important factor to consider before you invest. A lower market cap might mean that the cryptocurrency has more potential to grow. This is the case with small-cap cryptocurrencies (less than $1 billion worth of market cap). Large-cap cryptocurrencies (more than $10 billion worth of market cap) might be a safer investment, but their growth potential tends to be smaller.

Before a cryptocurrency is launched, the allocation of the tokens can be done by either fair launch or premining. 

Fair launch is the allocation of a cryptocurrency in an organized way after it is released. The tokens are allocated through mining, and the amount of mining usually depends on the computational power of the nodes in the blockchain.

Premining, on the other hand, is the allocation of a cryptocurrency before it is launched. This is done through an ICO, which secures funding for the development of the cryptocurrency.

These two models have a huge impact on how tokens are distributed.

If a cryptocurrency is fair-launched, then the distribution is more focused on nodes with higher computational powers, since they can mine more tokens. It is considered “fair” because in this way, those who invest more in mining are rewarded more than those who invest less.

If a cryptocurrency is premined, the tokens sold through ICO are usually sold to institutional investors and the team behind the cryptocurrency, rather than retail investors. Hence, token distribution is not well-balanced when institutional investors own a larger share of the total supply. Therefore, such investors can drastically change the price of a cryptocurrency by selling the tokens at once.

When a cryptocurrency is premined, people running the cryptocurrency can decide to lock up the circulating supply and release the tokens gradually over time. This assures retail investors that institutional investors won’t get a hold of all their tokens at once, and cause an unbalanced market. However, it is important that the release of tokens is logical, meaning that the distribution is done at low amounts throughout the years.

Inflation refers to the change in the value of the existing tokens after the release of many tokens at one time. If many tokens would be in supply, there would be a surplus. And whenever there’s a surplus, a decrease in price follows. Deflation, on the other hand, is the opposite of inflation, where the possibility that the existing supply may decrease causes an increase in the price of the tokens in circulation.

Staking is the process of locking tokens for a specific period of time (depending on the cryptocurrency) in order to receive a passive income or reward from the network. The problem with staking is that the staked tokens cannot be moved until the staking period is finished. If a large number of tokens are staked, then the supply will be more limited during the staking period. This can have an effect on a cryptocurrency’s price. There are some cryptocurrencies that have a lower staking time, or no staking time at all. Because of this, big price increases or reductions might not occur because the tokens can easily be bought or sold by the users.

Utility refers to the usage of the tokens. In simple terms, the utility of a token is what makes people buy more tokens and, as a result, increase the price of a cryptocurrency.

The team behind a cryptocurrency is another factor worth considering. For instance, one of the reasons why BAT (Basic Attention Token) has been a success is the team that runs it. Academically credible people — such as Brendan Eich 

 Brian Bondy — induced trust in the BAT project before it was even released. 

The community is also an important factor. At the end of the day, without the people that are going to buy tokens, a cryptocurrency is worth nothing. So the team behind the cryptocurrency needs to make sure that they establish a good relationship with the community, as well as try and expand that community.

Bitcoin and Ethereum are the two biggest cryptocurrencies, based on their market capitalization. Let’s look at the Tokenomics of these two and see their differences.

BTC market cap, fully diluted market cap, circulating supply. Source: CoinMarketCap

ETH market cap, fully diluted market cap, circulating supply. Source: CoinMarketCap

To conclude, Tokenomics is everything related to a token in cryptocurrencies. Each Tokenomics factor should be carefully analyzed before investing in cryptocurrencies.

Tokenomics is a relatively new field of study, but it can become one of the future’s biggest economic subfields.

So, with the new found knowledge in crypto, why not sign up to Bybit?

A Beginner’s Guide: What Is Tokenomics?

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