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

Wei Meng

Crypto

Crypto crashes happen more frequently now, but what are the cause for these occurences? Here's what you need to know. 

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The crypto industry still faces sharp declines marked by fear and volatility, despite significant capital from crypto enthusiasts, and a market capitalization peaking at just under$3 trillion in 2021. Although news headlines may attribute market crashes to a few clickbait-worthy factors, better insight comes from understanding the nuances that contribute to downturns.

Explaining a market is always easier in hindsight, but we can still look through multiple layers of events to find the main drivers. In this article, we’ll explore possible causes for crypto crashes and discuss strategies to help you overcome these challenges.

A crypto crash is a sudden and significant decline in the value of digital assets, such as Bitcoin. Across financial markets, a 

 of 10% or more in a single day is often considered a crash.

 The ensuing volatility leads to widespread losses and panic selling, similar to stock market crashes. Changes in market sentiment, government regulations, or fraud and security issues can all cause crypto crashes. 

What’s Causing the Current Crypto Crash?

 has dropped from its high of nearly $3 trillion in 2021 to a value much closer to $1 trillion in 2023. Given the recent decline, investors are looking for the root causes of sell-offs. Crypto crashes have occurred due to instability within the market, in addition to economic factors such as rising inflation and interest rates, which have reduced investor appetite for risk. 

Below, we discuss some of the most common reasons for crypto crashes.

If the crypto market fails to find buyers, sellers have to keep dropping prices, starting a chain reaction that causes a drop in traded values.

It’s not as common for the two most traded crypto assets, Bitcoin (BTC) or Ether (ETH), to face liquidity issues. However, less popular tokens often see price spikes that are followed by steep crashes. When the 

, the resulting liquidity crunch caused a catastrophic loss of value in the larger crypto market.

Governments and regulatory bodies worldwide are still grappling with how to approach the decentralized nature of cryptocurrency. Regulatory authorities need to figure out how to maintain oversight of the cryptocurrency industry and protect retail investors. Sometimes, regulatory action against crypto companies is sudden, as when China 

 in 2021. Crypto investors saw a decline in the network hash rate, which may have fed into price declines.

In the U.S., the Securities and Exchange Commission (SEC) has kicked off a legal battle against the world’s largest exchanges, 

. How the lawsuits play out could have far-reaching implications for the crypto market. Exchanges could shy away from accepting American investors, which would decrease accessibility and adoption of crypto in the U.S. In general, regulatory uncertainties can create a sense of unease that leads to sell-offs.

The U.S. Federal Reserve has continued to raise interest rates to tame inflation, thereby tightening financial conditions and putting pressure on stocks and 

 such as cryptocurrencies. Since crypto prices have more closely 

, digital assets often decline in price when investor sentiment shifts in traditional financial markets.

, borrowing money to amplify returns (and losses). The 

 measures the average amount of leverage used, and can indicate the amount of funding used to trade. Borrowed money eventually needs to be returned, and during market declines, traders may scramble to cover borrowed positions, triggering further selling in positions that still have value. The use of leverage can thus increase the magnitude of a crash.

The crypto market has experienced stages of growth and downturns, followed by recoveries and declines. Volatility in the crypto space has also led to a number of major crashes. Following is a historical timeline of notable crypto market crashes.

 in June 2023 on the back of news that the Federal Reserve would potentially hike interest rates even further later this year. The Fed has been fighting record-high inflation by increasing interest rates, which tightens financial conditions through increasing the cost of borrowing. Investors then have to pay more to add leverage to trades, impacting profitability. The appetite for risk also declines as general liquidity and capital are less available for higher-risk trades.

The SEC’s lawsuits against Binance and Coinbase have led Binance to suspend Bitcoin withdrawals and U.S. dollar deposits, and have prompted trading platforms like Robinhood to remove certain coins. Uncertainty has lowered investor sentiment overall and undermined confidence. The crypto market is also still reeling from both the collapse of FTX and the entities it took down with it, and the Terra/LUNA collapse.

When fear surrounds the crypto market, Bitcoin (the largest and most popular token) acts as a bellwether, triggering price declines and selling pressure.

Predicting the exact end to crypto crashes is challenging because of crypto market dynamics and many other factors. The cryptocurrency market's volatility means that it can experience price fluctuations rapidly, so a crash's duration depends upon the underlying causes.

While some crypto market downturns can be relatively short-lived, others can persistently extend for longer periods. However, you can monitor the following factors:

When the crypto market is crashing, an investor needs a clear, strategic plan of action. The following are some strategies to consider:

Be realistic about your crypto investments and the volatility you’re likely to face during market downturns. Only invest what you can afford to lose, and manage withdrawals of any borrowed money closely. Some strategies to help mitigate losses include diversifying your portfolio, setting stop-loss orders and avoiding emotional decision-making.

Throughout major downturns, the crypto sector has remained resilient, and the market for cryptocurrencies is still developing and growing. Investing with a long-term view has served many crypto investors well. Crypto crashes have often presented attractive opportunities to buy. Given the recent recovery in the crypto market, investors may consider continuing to hold.

Before making any investment decisions, keep up with the most recent news and changes in the cryptocurrency market — and undertake 

. The decision to buy crypto should ultimately be based on both your financial situation and your evaluation of market trends. 

Navigating a crypto crash requires a thoughtful approach and careful decision-making. It may be disheartening to experience a crypto crash, but crashes also present a unique opportunity for the well-informed and prepared investor.

Why Is Crypto Crashing Today: How to Navigate the Crash

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