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

Bybit Learn

Trading

Copy Trading

Learn all about Master Traders in crypto copy trading and how to choose the best Master Trader to maximise your profits even as a novice trader.

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 is one of the best ways for traders to emulate the success of established traders and earn profits on par with these market gurus. A well-established strategy in traditional finance, copy trading has also proved itself to be a popular tool in the crypto market. In copy trading, there is perhaps no element more important than choosing the right Master Trader. This choice will make or break your crypto copy trading. Read on to learn all about copy trading and Master Traders to get the most out of your trading.

Copy trading is a popular trading strategy whereby a novice trader or follower replicates orders placed by an established trader with a track record of positive returns, known as a Master Trader. You can choose to manually copy a Master Trader’s strategy, or simply use automated software to copy their orders. For example, 

 for easy and flexible automated crypto copy trading where you can freely communicate with top-tier Master Traders.

Copy trading is often compared to — or even confused with — mirror trading, which is largely a similar strategy in which you precisely follow the market moves of an established trader in an automated fashion. The key difference between copy trading and mirror trading is that the former leaves you room for applying your own customization and judgment when replicating the market moves of your chosen trader. 

Meanwhile, mirror trading mandates following the trader’s moves exactly, even when you disagree with a particular order or strategy.

With copy trading, beginners can become profitable even without deep knowledge of the market and trading methodologies. It’s also a great time saver, as nearly all of it is automated, and relies on the established trader’s moves. Copy trading, similar to other automated trading strategies, also removes the element of emotion from your decisions and performance.

An experienced trader who would like to share their knowledge and trading strategy with others can become a Master Trader. In doing so, they also earn additional profits from their dedicated followers, since no one acts as a copy trading master without being reimbursed for it.

Currently, Bybit supports crypto copy trading only for the Derivatives markets. Traders whose strategies are followed earn 10% fees on profits generated by their followers.

A Master Trader is a trader whose strategies and moves are being copied by others, known as followers. Master Traders have a track record of great performance and positive returns. You wouldn’t want to copy their trades otherwise, would you? They don’t necessarily need to be the biggest names in the market, or have millions of traders following them on social media. Massive fame and celebrity-like status are, thankfully, not a requirement. Great Master Traders often maintain low profiles but deliver results in terms of profitability and 

The primary profit source for Master Traders in copy trading comes from the fees charged on their followers’ returns. Because copy trading is automated, attributing the profits earned by a follower to a specific Master Trader is easy. As noted above, 

In addition to this main profit source, Master Traders also benefit from their activity indirectly by creating a follower base, a great reputational benefit for any trader.

Choosing a good Master Trader (MT) is undoubtedly going to be the key element in your copy trading strategy, particularly if you’re a novice trader. 

You can copy up to ten Master Traders at the same time. However, the settings for each MT are different and independent. It's worth noting that the performance of both USDT Perpetual Trades and Trading Bots created via Copy Trading will be considered when ranking MTs. 

To begin, familiarize yourself with the six categories on the 

 page, tailored to different risk appetites: 

Grasping these distinctions can help you align your risk appetite with the trading approaches of the top MTs, resulting in a smoother copy trading journey and higher chances of success.

 category appeals to those seeking significant short-term returns. Master Traders in this group have achieved the highest ROI in the past seven and 90 days, indicating that they may possess excellent trading skills or have made some high-risk, high-reward trades. However, it's essential to recognize that high short-term ROI doesn't necessarily guarantee long-term sustained profitability.

If you're looking at long-term consistent profitability, the section entitled 

Traders With the Highest Profit for Followers 

showcases Master Traders who have earned the highest profits (in USDT) for their followers and maintained a positive ROI over the past 90 days. Consistent profitability indicates that these MTs could produce reliable profits. 

Nevertheless, past performance doesn't guarantee future results, and you should still exercise caution by assessing each Master Trader's abilities and the risks involved.

 section caters to those interested in day trading. MTs in this group are intraday traders who have achieved an ROI of over 20% and a win rate of more than 50% over the past seven days. Their high returns within a short period — coupled with a higher success rate — suggest that they possess good market insights and quick decision-making abilities suited for intraday trading. Note that the fast-paced nature of day trading comes with inherent volatility, which results in substantial losses if trades don’t move in the anticipated direction.

category is ideal. It consists of Master Traders who have achieved an ROI of over 10% and a maximum 

 of 20% in the past 30 days. These MTs typically demonstrate better risk management strategies and capital management abilities, making them more attractive to conservative traders who prioritize preserving their capital. Nevertheless, it’s still crucial to be aware that, while risks may be mitigated, they aren't fully eliminated, so you may still incur losses.

 category caters to people seeking consistency and balance in risk and return. MTs in this category have actively traded for more than 30 days and achieved a positive 30-day ROI. To verify their consistency, the MT should not have an inactive badge (which is placed on a trader who hasn't opened a position in the Past seven days or traded in the past 14 days). Note that following MTs who demonstrate consistent risk and reward isn’t a foolproof plan as they still face potential losses.

 category are new Master Traders (who might be experienced, but are new on the 

 page). These traders have traded for less than 30 days and achieved a positive 7-day ROI. Calculated risk-takers who are constantly on the hunt for new opportunities will find this category exciting. Naturally, new MTs lack a proven track record, so you’ll need to evaluate each one carefully before choosing an MT from this category.

Tips on Choosing the Best Master Trader for You

While Bybit already helps you filter top traders according to your risk appetite, it’s also important to understand the metrics used to rank the performance of Master Traders in order to make an informed decision when choosing a Master Trader.

It’s not recommended that you simply follow popular MTs with a higher follower count (and even higher cumulative profits) without considering other metrics. This is because an MT's popularity doesn't indicate reliability or guarantee future success. Instead, it’s advisable to balance the popularity indicator with actual performance metrics, as outlined below. 

Total Profit = Current Account Equity − Previous Account Equity − Total Deposits + Total Withdrawals

 (UTA), ROI is calculated in a similar way, but the Total Profit is determined using a more complex formula: 

Total Profit = Realized PnL + Funding Fee Income − Trading Fee + Current Unrealized PnL − Previous Unrealized PnL

While these metrics may offer comprehensive details of an MT's performance, the following criteria are more universally understood and effective for evaluating performance at a glance.

Typically presented as a percentage, ROI indicates an MT's return on an investment. Various factors are considered when calculating the ROI, including the total profit and account equity (wallet balance + unrealized PnL). Unrealized PnL includes positions held in USDT Perpetual trades and Trading Bots. To gauge if a trader has consistent profitability, review their ROI for the past 7, 30 and 90 days.

Win rates reveal an MT's ability to close trades profitably. However, it’s critical to balance win rates with ROI to ensure that an MT’s emphasis on small, frequent wins doesn’t impact their overall profits.

This term refers to the consistency and predictability of a Master Trader's drawdowns over time. In the context of copy trading, it indicates the trader's ability to manage risks in order to prevent erratic or excessively large equity declines. As a follower, especially if you’re risk averse, a lower and stable maximum drawdown (the largest percentage drop from a peak) reflects careful risk management. 

A Master Trader's trading consistency and activity are also crucial factors when making a decision on whose trades to copy. Thus, it’s important to focus on an MT's performance over the past 7, 30 and 90 days. Since the crypto market is highly volatile, it’s essential to establish if the MT has consistently sustained profits across changing market conditions. 

Key factors to consider include the following.

: Metrics like average weekly trades or holding times can determine the aggressiveness or conservativeness of a trader's approach.

: Consider ROI volatility metrics to assess how stable or risky the MT’s returns are.

Becoming a Master Trader on Bybit is a form of investing. You not only get to promote your investing strategy, but you can share in the profits earned by your followers for copying your trading strategy. 

To become a Master Trader on Bybit, you'll need a 

 (either the standard Subaccount, or the Unified Trading Subaccount). 

 that the Unified Trading Subaccount only allows Master Traders to conduct USDT Perpetual trading, while you can trade a variety of other products with a standard Subaccount (which your followers won’t copy).

Once you’ve successfully applied, you'll need to complete new Master Trader missions in the mission center. Completing these missions allows you to be featured on the 

Once you've completed the compulsory missions, you'll enter into Bybit's Master Trader Level System, which is categorized into four tiers: 

. As you gain more followers, you'll be upgraded to the next tier. The higher your level, the greater the perks you unlock. 

There's also a Master Trader Level evaluation, which is done once you complete the required tasks and pass a review by Bybit. You'll be rated based on your account balance, 30-day cumulative profit and maximum drawdown in the past seven days. 

Copy trading is a great way for novice crypto traders to become profitable from Day One of their trading activities by following an established Master Trader. More experienced followers can also improve their returns and save time by adopting copy trading. For Master Traders, copy trading represents a great avenue for additional profits. Thus, no matter your trading experience or success rate, you can reap significant benefits from copy trading.

How to Choose a Master Trader to Magnify Profits (Complete Guide)

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