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

2.png

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.

how to buy usdc.png

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

21 Apr 2025 weekly newsletter.png

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.

1.png

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

Candlestick

Trading

The head and shoulders patterns can help traders to predict a bullish-to-bearish trend reversal critically. But how does it work? Here's how.

Head-and-Shoulders-Pattern-Formation.jpg

Head-and-shoulders-pattern-bearish-1024x514.jpg

Head-and-Shoulders-Pattern-1024x602.jpg

Inverse-head-and-shoulders-1024x592.jpg

Inverse-Pattern-Signal-1024x602.jpg

Understanding the head and shoulders chart pattern may seem very convoluted at the beginning. Still, it helps novice and even advanced traders understand the market and speculate based on logic. Most traders seek from this chart pattern the defined areas that allow anyone to set risk levels and take profits specifically.

But, are they reliable to spot trend reversals? Here’s what you must understand and learn how to apply them to predict a 

What Is the Head and Shoulders Chart Pattern?

The head and shoulders chart pattern refers to a bearish reversal formation on the candlestick chart to help traders identify a reversal coming after a trend has ended.

While the bullish setup incurred that it is an inverse head and shoulders. In a chart formation, they usually appear as a baseline with three-peaks. This pattern usually shows up at the end of an uptrend and signals its reversal. 

You may wonder how this pattern got its name. Well, it’s not because of the famous shampoo brand – the pattern actually resembles 

 (left and right shoulders). Basically, it represents a baseline with three tops, in which the middle top is higher than the other two, which should be ideally positioned on the same line. That baseline is called the neckline, and it is responsible for triggering the bearish signal. So, if the price breaks below it, we’re free to go short.

The head and shoulders formation is one of the most popular chart patterns along with other variants like double tops and bottoms and triangles, among others. Traders regard this formation as one of the most reliable patterns that provide very strong signals. Still, if you combine it with some technical analysis indicator, especially an oscillator showing the overbought level, the pattern will become even more relevant.

Identifying the Head and Shoulders Pattern

It’s very important to identify the head and shoulders pattern correctly. Otherwise, you may end up trading against the general trend. As you already know, the pattern has the following elements:

It’s important to understand that the neckline might not always be a straight line. In fact, most often, it will be tilted in one direction or another. But typically, if the slope is down, it produces a more reliable signal.

The Components of the Head and Shoulders Pattern

The Head and Shoulders pattern has several elements that make it unique and distinguishable on the chart. Understanding its components is crucial because you don’t want to confuse it with other chart formations. Basically, it can be deciphered when 

 exists when the two lowest points of the two troughs are connected.

Still, here’s what you should pay attention to:

The first thing you should consider is the prior trend, which typically should be bullish. Usually, the longer the uptrend lasts, the higher probability of a significant reversal that can be exploited by bears. The uptrend leading to the head and shoulders pattern shows signs of weakness, as the bulls cannot sustain it anymore.

After facing some resistance, the uptrend forms a high and then pulls back for a while. After finding some support, it bounces back to the potentially continued uptrend. So this is how the left shoulder is formed, though we can’t figure it out in real-time. It may look like the price action is forming a double top, for example.

During the rebound following the left shoulder, the price breaks the previous high but faces another resistance. Despite the temporary rally, bulls cannot make it, and the price is pulling back for a second time, leaving the higher high behind. That is when the head of the head and shoulders pattern is formed.

However, the second pullback ends at relatively the same level where the first support showed up – this is the neckline that starts to shape. At this point, we have the left shoulder and the head of the pattern.

As mentioned above, the second pullback finds strong support near the neckline region, and then the price has a final shot to continue the uptrend. However, after facing resistance at the same level where the first high was formed, bulls give up, and the price is retreating for the third time. This longer process suggests that the bullish move is exhausted.

The third high represents the right shoulder. Ideally, the left and right shoulders should be relatively the same level, but the pattern will still be relevant even if there is a slight deviation.

We have already defined the neckline, but this is when it becomes crucial as it separates bulls from bears. In other words, if the price is breaking below this support line, then we can open a short position with a high degree of confidence.

What Is the Inverse Head and Shoulders Pattern?

The head and shoulders can also form in the opposite direction. The inverse head and shoulders follow a bearish move and signals that the market is about to reverse.

As the name suggests, it is the same pattern formation but only upside down. Thus, you should be interested in opening long positions when spotting this pattern on the chart.

During the inverse head and shoulders formation, the first thing you can see is a valley, which is the first low of the pattern. After a relatively long-term downtrend, the price is finding support and bounces back for a while. Eventually, it faces local resistance, and bears try to push prices lower, managing to break below the first low for a while. 

The second valley is lower and represents the head of the inverse pattern. After the head, the price bounces back for a second time but cannot break above the neckline, which at this time acts as resistance. That is when the market forms the third low, which is the second shoulder.

Finally, bulls manage to break the resistance after a third attempt, which is when cryptocurrency traders go long. The price target is calculated similarly; you should measure the distance between the neckline and the lowest low and then add the result to the breakout price to get the price target you aim for.

Characteristics of the Head and Shoulders Pattern

The head and shoulders pattern has several key characteristics that you should pay attention to. The indicator should come on top of an uptrend, so defining the prior trend is essential. For this, you can use a simple Moving Average (MA).

If the uptrend is confirmed and you spot the formation of the head and shoulders pattern, here are some more aspects you should consider:

As the pattern unfolds, you should check the volume indicator, which is usually below the chart. You can also plot other volume indicators on the chart. All in all, you should be interested in a specific behavior of the volume, which will increase the relevance of the head and shoulders pattern. Ideally, volume during the formation of the left shoulder should be higher than during the advance of the pattern’s head. Thus, the decline in volume and the head’s new high suggests that the uptrend is weakening.

Next, the volume should ideally spike when the price forms the right shoulder and is about to break below the neckline. If the volume surges during the breakout, you can rest assured that the trend has reversed for good.

After breaking below the neckline, cryptocurrency traders would go short. The price target of the sell order derives from the distance between the neckline and the top of the head. Thus, after measuring the distance, you can subtract it from the breakout price to reach an approximate price target.

However, the target can also be impacted by several other factors, including previous support levels before the pattern, long-term moving averages, or the Fibonacci retracement levels.  

Head and Shoulders is a bearish pattern that appears during the exhaustion of an uptrend. Thus, it would help if you treated it exclusively as a signal to go short. There is also the inverse head and shoulders pattern. In the case of the latter, traders will get a bullish signal.

The great thing about the head and shoulders pattern is that it can be used on different timeframes. However, it works best for 

, and it can also be of great help for day traders. Fast-paced strategies like scalping don’t work well with this pattern. All in all, it makes sense to check the head and shoulders if you use timeframes larger than M15.

How to Crypto Trade With the Head and Shoulders Pattern? 

The great thing about the head and shoulders pattern is that it can be used with any asset type. That said, it makes sense to use it when trading cryptocurrencies because they are highly volatile and require some well-defined tools to help you read the market and smooth out volatility noise. 

, you should let the head and shoulder pattern unfold and complete itself. If the pattern is still in the middle of the process, don’t try to make assumptions on the neckline’s potential breakout and don’t open any position earlier than that. The market can change its direction in the blink of an eye, leaving you with an open position in the wrong direction. 

Instead, the first thing you should do is to 

. Meanwhile, you can plan your trade ahead of time and be ready to act when the price breaks the neckline.

You should also check the other factors that may make you consider 

. For example, you should start by looking at the previous support levels, which can become your price target for the sell order.

Conservative traders can sometimes stay patient when the neckline is broken and wait for prices to retrace above the neckline level or close to it. However, there is a risk of missing out on the trading opportunity while waiting for a retracement. So, the general consensus recommendation is to 

open a position right after the candle’s close that breaks below the neckline

. Still, you should be aware of the false break risk as well. 

What most intriguing about this pattern is the ease of setting the take profit and stop-loss orders. To manage the risk,

, which is the pattern’s head. In the case of the inverse pattern, you should place the stop loss right below the lower low. As for the take profit target, we have explained in detail how to calculate it.

Benefits of the Head and Shoulders Pattern 

Here is why you should at least try trading the head and shoulders pattern:

The Limitations of the Head and Shoulders Pattern

While the head and shoulders are considered a reliable pattern, it is not perfect. In fact, no pattern is ideal, as the market is unpredictable. Here are several drawbacks that you should consider:

To recap, the head and shoulders are one of the most popular and lucrative chart patterns. Still, you should be ready for failures, especially given that cryptocurrencies are volatile and unpredictable.

All in all, we hope that you’ll enjoy trading this pattern. It makes sense to start by trying to identify historical charts and practice them on demo accounts.

Candlestick Patterns Professional Traders Use

 – A curated list of candlestick patterns most frequently used by traders

 – Learn the basics of candlestick patterns

 (Chart basics: trend, neckline, wedges)

Head and Shoulders Pattern: What Is It & How to Trade With It?

Compete for 2,500 USDT Every Week

Earn Points by Completing Tasks

Event Rules

Weekly Leaderboard