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.

Check out the latest prices, charts, and data of 

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.

Beginner

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

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

US president Donald Trump’s tariff policies are influencing both crypto and US equities. Last week, BTC and the S&P 500 rallied due to a 90-day pause in reciprocal tariffs (excluding China). Equities are slightly below their April 9 highs, while BTC is holding above $83K. Its implied volatility term structure has normalized, and the volatility skew has improved from last week’s bias toward out-of-the-money puts, though it hasn't fully shifted toward calls.

Please check out the report’s highlights.

Tariff pause briefly brings back trading volume

Since our last report, open interest surged on Apr 9, 2025, as crypto spot prices rose after President Trump’s temporary tariff pause, accompanied by a nearly $10B increase in trade volumes. However, trade volumes have since returned to mid-March levels, and open interest has declined from the April 9 highs. The initial price spike indicates the tariff pause surprised the markets, but the subsequent pullback reflects concerns over remaining tariffs.

After being inverted for much of April due to trade policy shocks and macro headwinds, BTC’s term structure has disinverted, with front-end volatility dropping significantly this week. Call and put volumes have been balanced, with calls slightly exceeding puts most days. Apr 9, 2025, reflected mixed market sentiment, as both call and put volumes rose, but puts were higher overall. Open interest remains greater in calls, and has increased slightly since last week, reaching its highest level for the month (more than double from the beginning of April).

Despite a rally on Apr 9, 2025 that brought ETH close to $1.7K, traders sought downside protection, leading to higher volumes in put contracts as compared to calls. Since then, ETHUSDT options volumes have declined, but open interest remains strongly weighted toward calls with later expirations, which have increased since last week. After being inverted for much of April, ETH’s term structure of volatility has flattened, with volatility compressing around the 70% mark across tenors.

Advanced

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Bybit X Block Scholes crypto derivatives analytics report (Apr 16, 2025): Bitcoin put bias has moderated, but not yet shifted to calls

KiloEx (KILO) is a user-friendly DEX for perpetuals trading, offering high leverage, rewards, LSTfi integration and a robust multi-chain ecosystem.

 trading is one of the most lucrative areas for cryptocurrency enthusiasts if you know how to navigate the sometimes complex world of these contracts. Unlike standard futures, perpetual futures contracts have no expiration date, allowing traders to hold onto their positions as long as they prefer. You only exit a crypto perpetual (or “perp”) contract when you feel it’s the best time to execute your long or short trade. The lack of an expiration period makes these contracts attractive for traders.

Unfortunately, many crypto perpetual contract trading platforms are far from user-friendly. It seems like many perpetual crypto exchanges assume that only professional traders dabble in these contracts, and along with that assumption goes a second one — that these pros can navigate even the most complex user interfaces. As a result, finding a user-friendly perps platform is a challenge in the world of crypto trading.

 (DEX) that aims to change the status quo by providing a user-friendly environment for traders. Its platform also offers high leverage ratios, integration into the wider liquid staking token finance (LSTfi) ecosystem and generous reward programs for referrers and affiliates.

Thanks to its numerous benefits, this DEX caters to the needs of traders at all levels of expertise who are interested in crypto perpetuals. Operational since mid-2023, KiloEx launched its native token, KILO, in March 2025 to further enhance its platform's reward, staking and governance mechanisms.

 (BNB) that specializes in crypto perpetual futures trading.

 The platform prides itself on offering a user-friendly interface, high 

 ratios of up to 100x, multi-token vaults with generous APYs and a number of reward programs for referrers and affiliates.

Co-founded by Joey Ni (CEO) and Charles Gong (COO), KiloEx was originally launched on BNB Chain's mainnet in June 2023. As of mid-April 2025, the platform has additionally expanded its service coverage to five 

 (B2). This coverage allows KiloEx to access the ecosystems of three leading blockchain platforms — 

Manta, Base and Taiko are Ethereum-focused Layer 2 solutions, while opBNB is an efficient and low-cost optimistic rollup for the BNB Chain, while B

 is a platform linked to Bitcoin that acts as a major Bitcoin DeFi (BTCFi) enabler.

Because it’s a BNB-native platform, KiloEx's industry footprint is most notable within this blockchain's broader ecosystem. In fact, as Apr 17, 2025, KiloEx is the top DEX on the opBNB network by 

Using Layer 2 chains allows KiloEx to offer its users fast and low-cost transactions, which isn't always possible on a typical Layer 1 network. It's true that BNB Chain, the primary Layer 1 used by KiloEx, generally has much lower gas fees than Ethereum, the industry's leading 

 chain that’s notorious for its exorbitant costs. However, KiloEx's partner Layer 2 networks help drive costs and transaction times even lower. BNB Chain's current average gas fee is slightly over $0.10, while the opBNB Layer 2 rollup's comparable fee is only about $0.005.

In 2024, the platform introduced one of its most innovative features — the 

, which allows liquidity providers to stake multiple assets to earn high yields. That same year, KiloEx significantly expanded its partnership network, becoming an active player in the LSTFi ecosystem. LSTFi is a new stream within the DeFi industry that allows you to use 

 (LSTs) on various protocols for additional yield.

Having solidified its market presence in 2024, the project launched its native token, KILO, in March 2025. However, in mid-April 2025, KiloEx 

 and halted trading on April 15 as a risk management measure, pending investigation of the damage.

The Hybrid Vault is among the most innovative features offered by KiloEx. Essentially, it acts similarly to liquidity pools on other exchanges. Liquidity providers can contribute their crypto funds to the vault to support trading activity on the DEX and earn interest on their contributions, based on the fees earned by the protocol.

You can contribute a mix of coins to a KiloEx vault. Supported assets include 

Depending upon trading activity and the mix of coins contributed, you can earn APYs as high as 30%, making KiloEx one of the most lucrative choices for liquidity providers in this niche.

KiloEx uses a health factor calculation for this type of vault to keep your funds and the entire ecosystem safe. Based on the health factor score of your contribution to the vault, your funds could be liquidated if their value drops dangerously low.

Discounts are also offered for fixed-term deposits for established assets, such as USDT and USDC. Withdrawals for the fixed deposits are processed upon maturity, while all other withdrawals are processed within one to three "epochs," with each epoch on the platform lasting about three days. Thus, depending upon your contributed funds, you’ll wait anywhere from three to nine days to receive your crypto back.

The KiloEx platform also runs a generous referral program under which you can earn rewards for referring your friends to the platform. The amount you earn depends upon the trading volumes generated by the people whom you’ve referred. Additionally, your referees to the DEX can also benefit from fee rebates, again depending upon the volume of trade they generate.

There’s a tiered system, comprising nine levels, based on which you and your friends earn commissions and rebates. Under this system, even those referred traders whose monthly volume is at the lowest level (below $5,000) can still benefit from 5% rebates, while you also earn a 10% commission.

The table below shows the structure of this referral system with percentages for commission and rebates based on monthly trading volumes.

KiloEx offers an affiliate program for key opinion leaders (KOLs) with a certain level of social media following and influence in the crypto market. KOLs may apply to join the program by filling out an application, which is then considered by the project team within 48 hours.

To qualify for affiliate status, a KOL must have: 

Approved affiliates are provided a link to the platform, and are encouraged to invite their followers to trade on the KiloEx. If they invite at least five followers who trade at sufficient levels, the affiliates can start earning their commission. KOLs can earn up to 55% commission, depending upon the referred followers' trading activity.

KiloEx’s native utility token, KILO, is a 

 asset launched on BNB Chain. It’s used on the platform for governance, fee discounts on trades, rewards via 

, liquidity provision incentives and staking.

KILO is a supply-capped asset, with a maximum and total supply of 1 billion. The token’s supply allocation shares are shown in the chart below.

xKILO is an escrowed version of the KILO token. You can convert KILO to xKILO at a fixed rate of 1:1. The primary utility of xKILO is to provide boosted liquidity provision, which makes it possible to receive staking rewards. By locking xKILO on the platform, you can access special discounts and other benefits reserved for VIP-level users. Holding xKILO also grants you governance power to vote and influence the platform's future direction.

Unlike KILO, xKILO is nontransferable and isn’t tradable on the secondary market. The only ways to obtain xKILO are either to buy it with KILO or receive it via airdrops.

Platform users can earn points to qualify for KILO airdrops. Typically, you accumulate points by trading, depositing funds, referring others to the DEX, checking in to the platform and completing other specified eligible activities.

The project’s initial airdrop, Genesis Season, had an eligibility snapshot taken back in July 2024. Under the currently running airdrop campaign, Pioneer Season, users can earn points to receive KILO tokens for 180 days past the token generation event (TGE) in late March 2025 (i.e., until late September 2025).

Additionally, you can earn KILO tokens on Bybit simply by participating in the 

 event and holding BNB in your account. Every day at various random times, Bybit will take snapshots of your BNB holdings in your Funding and Unified Trading Accounts to calculate the number of KILO tokens you’re eligible for. The campaign will run through Apr 25, 2025, 11:59PM UTC, and you’ll have your share of KILO airdropped seven days after this date.

 market as a swap pair with USDT. If you don't have a Bybit account, you can easily 

, and access opportunities across hundreds of trading pairs and crypto products on the exchange's Spot and Derivatives markets.

As of Apr 17, 2025, the KILO token is trading at $0.039, which is 76.2% lower than its ATH of $0.1648 on Mar 27, 2025, and 17.3% higher than its ATL of $0.03344 on Apr 12, 2025.

Long-term price forecasts for KILO are mostly bullish. CoinCodex 

 at $0.0387 in 2027 and then rise to $0.135 in 2030 while PricePredictions 

When it comes to perpetuals trading, both traditional 

 (CEXs) and DEXs have often struggled to offer an intuitive trading experience. In contrast, KiloEx has made user-friendliness a cornerstone of its operations. With KiloEx, you can enjoy a streamlined trading process, access market trends info for thorough research, get an overview of the cryptocurrency market and conduct other activities via an interface that’s designed for anyone, irrespective of their familiarity with decentralized trading.

The platform also boasts a diverse range of other benefits not easily found in the world of perpetuals-based cryptocurrency trading — generous leveraged trading options, trading fee discounts, lightning-fast trades, low trading fees and an innovative Hybrid Vault system. Many of these benefits are thanks to KiloEx's collaboration with several Layer 2 decentralized platforms, which provide the technical infrastructure to enable low costs and fast order processing.

If you’re a crypto perpetuals enthusiast, KiloEx is definitely a platform to peruse.

Intermediate

KiloEx.png

KiloEx (KILO): More than a DEX — a rewarding ecosystem

In this article, Bybit Learn breaks down how the RFC meme coin was launched by the 'ifindretard' community, what’s driving its popularity and how to trade the RFC meme coin on Bybit.  

RFC quickly became one of the most talked-about and actively traded meme coins in early April 2025. In this article, we’ll break down how the token started, what’s driving its popularity and show you how to trade RFC on Bybit.  

Meme coins have always relied on humor to capture a wide audience and RFC is no different. The coin is inspired by the 

 X account that posts right-leaning, political and social posts on the platform. The account quickly became popular and gained over 718,000 followers as of mid-April 2025. 

 the launch of RFC, a Solana-based meme coin with a core mission of becoming the definitive meme coin for their community. The project aims to counter the prevalence of rug pulls and scams and create a token that is fair and community-centric.

The RFC token was launched on Mar 24, 2025, on the 

 platform. Within a few hours of its launch, the token graduated from the bonding curve and was placed in the liquidity pool. The initial post from the @ifindretards account is likely the major cause of the parabolic rise in the price of the token on the pump.fun platform. 

In the following days, the popularity of RFC experienced a significant surge, largely fueled by an enthusiastic community that rallied around the project. The coin’s 

 on Solana and its allocation of 96% of the supply to the public attracted a lot of attention from the meme coin community. Such community-centric characteristics quickly boosted the coin’s profile. According to 

, over 216 KOLs have mentioned the coin, with 124 being bullish and only five being bearish. This positive momentum was soon reflected in the price surge of RFC.

Following the graduation from the bonding curve, the price momentum continued and the coin reached a peak market cap of around $8 million, but quickly retraced to $1.2 million the next day. Over the next few days, the coin consolidated in the $1 million to $5 million range. 

On Mar 31, 2025, the coin broke out of this range and witnessed a 2-week staggering rally that saw the market cap rise as high as $138 million on Apr 14, 2025. This is a 25x increase from the first day’s close of $5.5 million. The coin has since retraced slightly, and as of Apr 15, it’s currently trading at a valuation of around $91 million market cap. 

The total supply of RFC is fixed at 1 billion tokens. The distribution of these tokens is heavily weighted towards the public, with 96% allocated for a public fair launch. Notably, only 4% of the total supply was allocated to the developer wallet, and the project explicitly states that there were no airdrops or presales.

If you’re interested in riding the RFC wave, you can go long or short on the token with up to 20x leverage on Bybit through its 

 RFCUSDT perpetual contract. Whether you're bullish or bearish, you can dive into the action and start trading the 

Retard Finder Coin RFC.png

RFC: Trending meme coin with a strong community

Blockchain

Crypto

Explainers

Cloud mining can be intimidating, especially the uncertainties and risks it possesses. Here's what you need to know before investing.

 mining but don’t want to deal with the hassle of setting up and maintaining your own hardware? You’re in luck! What is cloud mining, you ask? Cloud mining offers a convenient and accessible solution for people like you who are eager to mine cryptocurrencies without the technical know-how or upfront investment. In this blog post, we’ll guide you through everything you need to know about cloud mining, from understanding the concept to choosing the right provider and maximizing your earnings while minimizing risks.

As the world of cryptocurrency continues to evolve, what is cloud mining has become a popular alternative for many crypto enthusiasts. In the following sections, we’ll explore the ins and outs of cloud mining, helping you make an informed decision and potentially embark on a lucrative journey in the world of crypto mining. So, let’s get started!

Cloud mining is an effective way to make cloud mining work for mining cryptocurrencies remotely, including bitcoin mining. This method allows you to potentially make cloud mining profitable by:

But what about the other side of the coin? While cloud mining offers numerous benefits, some potential drawbacks should be considered. For instance, your earnings might be lower than if you were mining with your own hardware or even just buying and holding the cryptocurrency. Cloud mining platforms charge fees for their services, which can impact your overall profits. Despite these factors, the convenience, passive income, and minimal technical requirements make cloud mining a compelling choice for many.

Cloud mining operates by pooling resources and computing power from multiple users, allowing them to mine cryptocurrencies more efficiently and securely while the provider handles the technical aspects. Hosted mining and leased hash power are the two primary cloud mining models. Hosted mining is a comprehensive approach where users purchase a mining package from the provider, who then takes care of the technical aspects. On the other hand, leased hash power is a flexible and scalable model where users lease a certain amount of hashing power from the provider.

When you join a mining pool, your rewards will be distributed in the form of the cryptocurrency you’re mining, usually in proportion to the amount of processing power or work you contributed to the pool as a whole. In this manner, you can earn a portion of the mining rewards without dealing with the complexities of establishing and managing your own mining operation. By participating in mining pools, you can increase your chances of earning rewards compared to solo mining.

Ready to get started with cloud mining? First, you’ll need to find a reputable provider that suits your needs and preferences. Some popular cloud mining providers include 

. Each provider has its unique features and offerings, so be sure to do some research to find the best fit for you.

Once you’ve chosen a provider, the next step is to select a coin to mine and register for an account. From there, you’ll need to:

ECOS is a platform that allows you to mine cryptocurrencies. To get started, follow these steps:

The flexibility of cloud mining allows you to choose the best approach for your needs and investment goals.

As mentioned earlier, there are two main cloud mining models: hosted mining and leased hash power. Both models have their advantages and disadvantages, and it’s essential to choose the right one for your needs. We’ll go into detail about these two models next, aiding you in making a well-considered decision about the cloud mining approach that best aligns with your goals and preferences.

Whether you prefer the comprehensive approach of hosted mining or the flexibility and scalability of leased hash power, understanding the different cloud mining models will empower you to make the best choice for your cryptocurrency mining journey.

Hosted mining offers a more hands-on approach to cloud mining, where users rent entire 

 rather than just a portion of the provider’s computing power. This model allows for greater control over mining operations and can lead to reduced overhead costs, as you can manage the mining rigs without purchasing the hardware. Hosted mining providers often offer discounts for longer contracts, making it an attractive option for those looking to commit to a mining operation for an extended period.

The primary disadvantage of hosted mining is that it can be noisy, and you’ll have to shoulder the electricity costs. However, the advantages of not having to worry about equipment maintenance and the potential for significant profits can make hosted mining an appealing choice for many cloud miners, especially when compared to traditional mining.

Leased hash power provides a more flexible and scalable option for users to rent computing power and mine cryptocurrencies. Instead of renting entire mining rigs, you’ll rent a portion of the provider’s computing power, and your mining rewards will be based on your investment. This model allows you to:

Leased hash power is an ideal choice for those seeking adaptability in their cloud mining endeavors.

While leased hash power provides flexibility and scalability, it’s important to consider the fees associated with this service. Companies often have full control over mining efforts and may impose high costs. Nevertheless, leased hash power can be a convenient and accessible option for those looking to mine cryptocurrencies without the need for a complete mining setup.

Several factors influence the profitability of cloud mining. These include:

Targeting the most profitable coins and considering these factors could potentially result in significant returns from your cloud mining efforts.

To maximize your earnings, it’s essential to understand the dynamics of the cryptocurrency market and the mining process. Pay attention to:

Additionally, market conditions can directly affect your profits, so it’s crucial to monitor them and adapt your strategy accordingly.

Like any investment, cloud mining has its fair share of risks and challenges. Potential scams, fluctuating profitability, and additional costs can all impact your cloud mining earnings, making it vital to evaluate these challenges before diving in. By being aware of the potential risks and doing your due diligence, you can make more informed decisions and minimize the chances of falling victim to scams or losing money due to unforeseen circumstances.

Be aware of potential scams in cloud mining, such as unrealistic returns, lack of transparency, and fraudulent or unethical practices. By researching cloud mining providers and monitoring the market, you can better protect yourself from these risks and make the most of your cloud mining experience.

Considering the advantages of cloud mining can help guide your decision-making process in your cryptocurrency mining pursuits. On the pro side, cloud mining offers:

On the flip side, cloud mining carries risks such as:

Ultimately, it’s essential to weigh these pros and cons before deciding to invest in cloud mining.

Finding the perfect cloud mining provider is crucial to your success in the world of remote cryptocurrency mining. When selecting a provider, consider factors such as:

A reputable provider should have the means to back up their mining services. This includes investing in high-end mining hardware, infrastructure, and establishing their farm in a region with lower power costs and an ideal climate.

By conducting comprehensive research and assessing each provider against these criteria, you can identify a cloud mining provider that meets your goals and preferences, increasing your likelihood of success in the crypto mining industry.

Adopting a strategic approach is key to maximizing your earnings and minimizing risks in cloud mining. Here are some tips to help you achieve this:

By following these tips, you can adopt a strategic approach to cloud mining and increase your chances of success.

By utilizing these strategies and staying updated on the latest developments in the cryptocurrency mining industry, you can enhance your cloud mining experience and reap the benefits of your effort and intelligent investments.

Cloud mining offers a unique and accessible way for individuals to mine cryptocurrencies without the need for personal investment in hardware and maintenance. By understanding the different cloud mining models, evaluating the risks and challenges, and choosing the right provider, you can embark on a rewarding journey into the world of remote cryptocurrency mining.

Armed with the knowledge and strategies shared in this blog post, you are now well-prepared to make informed decisions about cloud mining and maximize your earnings while minimizing risks. So, why wait? Start exploring the exciting world of cloud mining today, and unlock the potential of this innovative approach to cryptocurrency mining!

Cloud mining is a process where users can take advantage of cryptocurrency mining without needing to own or manage the hardware themselves. Instead, they pay a fee to rent computing power from a company that owns and manages the mining hardware and process, allowing individuals to mine cryptocurrencies such as Bitcoin remotely.

Cloud mining has potential to be profitable, however it can be difficult due to high costs and increased competition. With the right provider and effort, you can earn passive income through cloud mining and reinvest your earnings for greater returns.

Cloud mining can be a risky endeavor due to the likelihood of scams, high costs, and difficulties with profitability. Therefore, it is not safe to use cloud mining.

Earn money with cloud mining by choosing the perfect contract that fits your risk profile and maximize your Bitcoin profits. With different contracts to choose from, there is sure to be one that suits your needs. Invest in cloud mining today and start seeing the rewards!

What is the main difference between hosted mining and leased hash power in cloud mining?

Hosted mining allows you to rent a full mining rig, while leased hash power gives you access to a portion of the provider's computing power - giving you more flexibility and cost efficiency.

What is Cloud Mining? The Ultimate Guide to Mining Cryptocurrency Remotely

Compete for 2,500 USDT USDT Every Week

What is Cloud Mining? The Ultimate Guide to Mining Cryptocurrency Remotely

Grab Up to 5,000 USDT in Rewards

Compete for 2,500 USDT USDT Every Week

Grab Up to 5,000 USDT in Rewards