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

Explainers

Blockchain

Also known as Metis Andromeda, Metis is a Layer 2 scaling solution for Ethereum that features the lowest transaction costs in this competitive niche.

 (PoS) block validation model in September 2022, there was a widespread expectation that its platform's notorious network congestion and high gas fees would decline significantly. Unfortunately, the reality turned out to be very different as both problems, particularly the issue of high fees, remain to this day.

This ongoing situation has boosted the profile of 

 linked to Ethereum that promise to solve both overarching problems. The majority of these Layer 2 platforms do provide significant scalability, speed and cost benefits, and the race to be the most efficient solution in the space is heating up. Among these platforms, Metis stands out as a clear champion in terms of transaction costs, an issue of the utmost importance for most Ethereum users.

 (METIS), also referred to as Metis Andromeda, is a 

 platform serving Ethereum that features a number of distinct properties, such as 

 (Ethereum virtual machine) equivalence, complete off-chain decentralization, decentralized storage and a hybrid rollup mechanism. 

Metis's unique hybrid rollup architecture combines the elements of the two prevalent rollup models — optimistic and zero-knowledge (ZK).

A hard fork of the aptly namedpopular optimistic rollup protocol 

, Metis launched its mainnet operations in November 2021. In the past two years, the project team has gradually implemented the key functions that make Metis so distinct among Layer 2 protocols.

While other Ethereum Layer 2 platforms feature EVM-

 processing engines, Metis's engine — Metis Virtual Machine — is EVM 

. This equivalence helps Metis achieve nearly perfect compatibility with Ethereum.

Currently, Metis offers users the lowest transaction cost of all the leading Ethereum Layer 2 solutions. A key contributor to this cost efficiency is Metis's decentralized storage model, which uses the InterPlanetary File System (

Instead of storing and processing off-chain data in a centralized location, Metis’s platform rolls up a large amount of data and fraud-proof transactions, enabling much faster and cheaper data processing. Since the data is stored across multiple nodes in the IPFS network, the risk of hacking or data loss is minimized.

Metis's key goal is similar to that of other Layer 2 solutions — drastically reducing transaction speeds and fees on Ethereum. However, due to its unique architecture, Metis has so far been the most successful among these platforms in lowering fees, while also keeping processing speeds to a minimum.

Most leading Layer 2 protocols, Metis included, offer a setup whereby a typical transaction is completed nearly instantly or within seconds. There is an issue of timing concerning complete transaction finality, which we’ll cover below, but in general, Layer 2 protocols offer a fast-processing, seamless environment for Ethereum users.

However, these platforms have had varying degrees of success in reducing Ethereum's sometimes-extravagant transaction fees. While the leading Layer 2 platforms all offer significantly lower fees as compared to directly transacting on Ethereum, Metis has managed to achieve tiny, often less-than-a-cent costs. As of early November 2023, Metis's average fee for ETH transfers is under one cent, while the fee for token swaps is four cents. On both of these counts, Metis is significantly ahead of the competition.

At the core of Metis's functionality and efficiencies are two critical elements: a Smart Layer 2 solution and its hybrid rollup functionality. Let’s take a closer look at each of these two concepts that underpin the Metis platform’s operations.

Metis's Layer 2 scaling solution features a unique decentralized processing model.

In a typical Layer 2 solution (specifically, in an optimistic rollup from which Metis has been forked), transaction batches are passed to the sequencer, a single centralized actor on the network. The sequencer posts the transactions to 

, the Ethereum chain, where they’re validated and written to the permanent ledger. If the verifier on Layer 1 raises a 

 as a result of finding inconsistencies in the data, the transactions are rejected. The process of raising fraud proofs on Layer 1 consumes the resources of the underlying blockchain and leads to processing inefficiencies.

In contrast, Metis's Sequencer is only one part of the entire decentralized network used to process transactions. On Metis, a separate network actor, the Block Producer, collates transaction data and posts it to the Peer Network. Peers on the decentralized network act as the principal line of defense to spot and reject fraudulent transactions.

The Sequencer (part of the Peer Network) then posts transactions approved by the Peer Network to the decentralized storage (see above) and simultaneously notifies the Layer 1 Validator by sending the transactions’ metadata. The Validator from Layer 1 can then retrieve the data from the decentralized storage, check its consistency against the metadata it’s received, and either validate or raise a fraud proof.

Both the preliminary scrutiny by the Peer Network and the use of decentralized storage significantly reduce the load on Layer 1, helping minimize occurrences of fraud proofs.

As with other typical rollup protocols, Metis bundles transactions for batch posting to Layer 1. However, Metis's rollup model is based on a unique hybrid setup model that lets the platform achieve industry-leading fee reductions while maintaining fast transaction confirmation times. Metis's rollup architecture combines the elements of optimistic and 

 use quick and cost-efficient transaction processing to post transaction batches to the underlying Layer 1 platform without having to provide validity proofs. Validators on Layer 1 have one week from the time a batch is posted to raise a fraud proof if they discover any inconsistencies. Note that transaction confirmation (when a transaction is executed and confirmed by a Layer 2 protocol) on optimistic rollups takes mere seconds — and confirmation times are typically what most users are interested in.

Besides confirmation time, there’s the issue of 

. A transaction is considered finalized when it’s been permanently written to the Layer 1 ledger of records. Between the time a transaction is confirmed and the time it’s been finalized, it might be canceled if Layer 1 validators reject it. 

Optimistic rollups, while boasting quick confirmation times, have a lengthy week-long finality period, the time window during which validators can raise a fraud proof on Layer 1.

, on the other hand, don’t operate on the concept of fraud proofs. Instead, they require that transaction batches sent to Layer 1 already have 

 attached. As such, there is no mandatory (and lengthy) time window during which validators can flag a batch of transactions for inconsistency or fraud. This helps ZK-rollups achieve much faster transaction finality times as compared to optimistic rollups, although the latter feature quicker confirmation times and lower processing costs. Note that ZK-rollups also provide superior data privacy and security as compared to their optimistic counterparts.

By combining the optimistic and ZK technologies, Metis offers low-cost transactions that are confirmed within seconds, while also 

reducing transaction finality times from seven days to just around four hours

Decentralized Autonomous Company (DAC) Framework

Metis is dedicated to community-based governance. However, the platform doesn’t use the typical decentralized autonomous organization (

) governance model. Instead, it employs the Decentralized Autonomous Company (DAC) format.

In a typical DAO, governance decision-making is based on the number of crypto tokens a 

 has in possession or dedicates to staking. The more tokens you have, the greater your influence in the overall voting and decision-making process. This creates a potential problem of power usurpation by 

, entities that amass a large, often controlling number of tokens.

Moreover, some participants in DAO decision-making might have little interest in or knowledge about the proposals they vote on.

The DAC model employed by Metis solves these problems eloquently. In a DAC, the rules for on-platform governance can be pre-specified by developers via smart contracts and are typically based on the organized structure used by real-life 

 (hence, the name). For instance, the DAC rules might specify which user groups are allowed to vote on certain technical proposals. Network users without the requisite knowledge to understand the technical details of such proposals might be excluded from the voting process.

Specifically, the DAC model is driven by two primary actors: Commons and EcoNodes. Anyone can launch a DAC on the network and become a Common to create proposals. As a Common, you can stake METIS tokens to accrue veMETIS 

, which you can then use to participate in decision-making on Metis. A Common can potentially develop into an EcoNode with greater voting weight based on their contribution to the Metis ecosystem, as EcoNodes are selected by existing EcoNodes.

The Metis DAC framework helps the platform maintain an efficient, well-organized and comprehensive decentralized business structure.

The Metis Virtual Machine (MVM) is the platform’s computational engine, designed to achieve full equivalence with Ethereum’s EVM. This equivalence with the EVM allows blockchain developers to easily deploy native Ethereum apps on Metis with very little code modification. It also makes it easy to test apps and to port them between the layers.

Users have several bridges that can facilitate token transfers to and from the Metis crypto ecosystem. The platform's own native bridge, Metis Bridge, is the default for transferring assets to and from Ethereum. Besides the platform's native cryptocurrency (METIS) and ETH, the bridge also supports numerous popular Ethereum-based tokens, such as USDT, USDC, LINK, DAI, AAVE and WBTC.

For NFT transfers, you can use the Metis NFT Bridge, which supports two NFT-focused token formats, ERC-721 and ERC-1155.

The biggest limitation of Metis Bridge is its inability to directly transfer Metis tokens to and from blockchain environments beyond Ethereum. However, Metis has implemented an omnichain token transfer protocol, LayerZero, that lets you move assets between multiple blockchain platforms. Using third-party bridges that have also integrated LayerZero, you can transfer assets between Metis and platforms like 

 (ARB) and more. Among these third-party bridges, Synapse Bridge offers the widest choice of transfer opportunities for Metis, including all of the abovementioned networks.

METIS is the Metis platform’s native token, an 

 compatible asset that’s native to the Layer 2 protocol. METIS is used for transaction fee payments, staking and launching DACs.

The token’s maximum supply is specified at 10 million. Its current total supply is 5,410,000, while the circulating supply stands at slightly over 4.3 million.

The image below details METIS’s initial supply distribution at its launch in May 2021, with the rest of the supply to be allocated to activities such as community rewards, ecosystem development and transaction-related mining.

As of Nov 16, 2023, the METIS token is trading at $19.74, which is 93.87% lower than its all-time high of $323.54 on Jan 16, 2022 and over 470% higher than its all-time low of $3.45, registered on May 23, 2021.

Long-term forecasts for METIS are relatively bullish. PricePrediction 

 a maximum of $51.22 by 2025 and $298.88 by 2030, while DigitalCoinPrice 

 within the category of Layer 2 cryptocurrencies. Its confident leadership in terms of transaction fees is bound to attract larger crowds of Ethereum users sooner or later. However, this might not happen overnight, as the platform will need a certain amount of time to build wider brand awareness.

) developer community is also likely to increasingly appreciate the EVM equivalence of the Metis MVM, which makes Ethereum app testing and porting a breeze.

However, as Metis operates in the competitive niche of Ethereum Layer 2 platforms, the larger and more established players (e.g., Optimism, Arbitrum, and Polygon) will fight tooth and nail to retain their user bases. It might take some time for Metis's cost benefits to translate into significantly larger user numbers. Thus, METIS is more of a long-term-hold asset than a tool to turn a quick profit.

We would also like to note that our assessment doesn’t constitute comprehensive financial advice, as you’re encouraged to do 

 on the token’s overall investment potential.

The Metis Andromeda network is the first prominent Layer 2 that’s managed to deliver on its promise of sub-cent transaction fees. This is bound to boost DApp usage rates significantly. As more users flock to the Metis platform, we might become witnesses to another DApp revolution. Ethereum started the first one back in 2015, when it first introduced the concept of decentralized blockchain applications.

Metis might now become the commander of the second DApp revolution by attracting armies of new users, enticed by cheap transaction costs. Still thinking that swapping tokens on Ethereum robs you of that coffee at the local café? Think again — because Metis Andromeda delivers you token swaps that cost less than a sprinkle of sugar in your coffee.

Metis (METIS): Smart Layer 2 for Cost-Effective Scaling on Ethereum

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