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

Trading

Explainers

Besides the last traded price and best bid and ask price, the Order Book on Bybit reveals important information about market depth.

Are you striving to become a successful trader? One essential tool that can elevate your trading game is mastering the 

. This comprehensive guide, “Order Book Explained,” will illuminate the intricacies of the order book, helping you gain valuable insights to make informed trading decisions and stay ahead of the curve.

The order book is a vital trading tool that provides real-time data on buy and sell orders, market depth, and price levels for a specific asset. It allows traders to visualize the 

 of an asset at various price points, offering a glimpse into market liquidity and potential price movements.

Market makers hold a significant position in the order book, filling the gaps between buy and sell orders and maintaining liquidity within the market. Analyzing the order book allows traders to gauge the asset’s liquidity and assess the intensity of buying and selling interest.

An order book is composed of buy and sell orders, their prices, and volumes, divided into bid and ask sections and constantly updated throughout the trading day. The bid section shows all available buy orders. A sell order, on the other hand, can be seen in the ask section along with other sell orders. Order size, an indicator of the quantity of an asset traders are willing to buy or sell at a specific price level, provides insight into market supply and demand dynamics.

The orders in an order book are structured by price level, displaying the list of buy orders (bids) and sell orders (offers) along with the quantity of shares to be bought or sold at each price level. Analyzing order size aids traders in making intelligent trading decisions and understanding the level of interest and activity at various price points.

Market makers, as crucial market participants, are indispensable in maintaining liquidity and order within the market by:

Market makers employ various strategies to place buy and sell orders, such as:

Their activity on a trading exchange contributes to market liquidity and depth, guaranteeing the availability of buyers and sellers for trading and enhancing market efficiency.

Market depth is a measure of the supply and demand of an asset at various price points, providing insights into market liquidity and potential price movements. A market depth chart visually represents the order book, displaying a cryptocurrency’s live supply and demand at different prices.

The bid-ask spread, the difference between the highest bid price and the lowest ask price, reflects the current market price. A market that is showing deep levels of buy and sell orders at various price points could be identified as a liquid one. This means that trades can be done quickly without affecting the market price significantly.

, order size, and market sentiment, can influence market depth. Higher trading volume is typically associated with increased market activity and liquidity, leading to a greater number of orders being placed at various price levels and a deeper market depth.

Order size in the order book can have a direct influence on the price impact of the order, with large orders causing a greater change in the market price due to the increased number of trades required to execute it. Market sentiment, on the other hand, can have a considerable influence on market depth, with optimistic investors increasing depth and pessimistic investors diminishing it.

Analyzing market depth charts can help traders identify buy and sell walls, gauge market sentiment, and predict potential price trends on the sell side. A buy wall is indicative of substantial buy orders at a given price, while a sell wall is observed when a considerable amount of sell orders are present at a given price level.

Understanding the key characteristics of a market depth chart in trading, such as:

Traders can analyze market depth charts to recognize potential trading signals.

Reviewing the order book equips traders to make intelligent decisions by pinpointing key price levels, evaluating buying and selling pressure, and comprehending market dynamics. One approach to recognizing key price levels in an order book is to observe levels of 

, where there is a notable amount of buying or selling activity, indicating potential market fluctuations.

To assess buying and selling pressure in an order book, traders can observe indications such as:

Price levels in the order book indicate the points at which buyers and sellers are willing to trade, providing insights into potential support and resistance levels. Support levels are those price levels where buyers are ready to purchase an asset, causing the price to rebound, while resistance levels are those price levels where sellers are ready to sell an asset, resulting in the price reversing or pausing.

Analyzing the price levels in the order book allows traders to pinpoint these support and resistance levels and use them to make intelligent trading decisions. The volume of orders at a specific price level can have an impact on its strength as a support or resistance, with a high volume of orders indicating strong buying or selling pressure at that level.

Assessing the balance between buy and sell orders can help traders gauge market sentiment and identify potential trading opportunities. Analyzing the aggregate volume of buy and sell orders at various price levels enables traders to determine the level of interest and demand in the market. By keeping an eye on market trends, they can make more informed decisions when placing their orders.

If there is a higher buying pressure compared to selling pressure, it indicates strong demand for the security and can result in upward price pressure. Conversely, if there is a higher selling pressure compared to buying pressure, it indicates an excess supply of the security and can cause downward price pressure. By analyzing the distribution of buy and sell orders in the order book, traders can gain insight into the market sentiment and make more informed trading decisions.

Order Types and Their Impact on the Order Book

Different order types, such as market and limit orders, can have varying impacts on the order book, influencing market depth and liquidity. Market orders are executed immediately at the best available price, consuming existing orders in the order book and potentially affecting market depth, while limit orders are placed at a specific price and only executed when the market reaches that price, contributing to market depth and liquidity.

Comprehending the effect of different order types on the order book aids traders in navigating the market more efficiently and making intelligent decisions regarding their trading strategies.

Market orders are executed immediately at the best available price, consuming existing orders in the order book and potentially affecting market depth. When a market order is placed, it is matched with the best available limit orders in the order book, resulting in the execution of the trade and potentially impacting the market price.

A sizable market order, especially relatively large market orders, can significantly impact market depth, as it can swiftly drain the available liquidity in the order book, causing the price to move in the direction of the order. This can temporarily reduce market depth as the order book adjusts to the new price level, making it crucial for traders to be aware of the potential effects of their market orders.

Limit orders, including sell limit orders, are placed at a specific price and only executed when the market reaches that price. This type of order contributes to market depth by introducing a new order at a particular price level, which is then included in the existing limit orders in the order book.

Limit orders, by introducing potential trading opportunities and smoothing the trading process, enhance liquidity in the market. Understanding the impact of limit orders on market depth and the order book can help traders make more informed decisions about their trading strategies and execution.

Practical Applications of Order Book Data in Trading

Traders can use order book data to identify support and resistance levels, gauge market sentiment, and automate trading strategies for more efficient execution. By analyzing historical limit order book data to identify patterns and trends, traders can develop automated trading algorithms that can be applied to future trading decisions.

Moreover, order book data can be used to train and validate machine learning models, such as LSTM neural networks, for algorithmic trading, capitalizing on the wealth of information in the order book to make more informed and data-driven trading decisions.

Identifying Support and Resistance Levels

Support and resistance levels can be identified by analyzing the concentration of buy and sell orders in the order book, providing potential entry and exit points for trades. By analyzing the order book’s price levels and volumes, potential price movements can be identified and informed trading decisions can be made.

Understanding volume profiles and leveraging the deeper layers of the order book can also assist in predicting support and resistance levels, helping traders identify potential trading opportunities and make better-informed decisions.

Order book data can be incorporated into 

, allowing traders to capitalize on market opportunities more efficiently. By monitoring the order book, traders can gain insights into market sentiment and liquidity levels, which can help them make informed trading decisions.

Automated systems can be programmed to execute trades based on predefined strategies that take into account the information from the order book, allowing traders to respond rapidly to market conditions and capitalize on profitable opportunities.

Order Book Limitations and Considerations

While the order book is a valuable tool for traders, it has limitations and considerations, such as the presence of dark pools and the impact of low-liquidity markets. Dark pools and hidden orders can reduce the reliability of the order book by concealing large trades from public view, potentially affecting price discovery.

In low-liquidity markets, the order book may not accurately represent market sentiment, and traders should exercise caution when executing trades based on order book data. Understanding the limitations and considerations of the order book can help traders make more informed decisions and minimize potential risks.

Dark pools, private exchanges where institutional investors can conduct trades without publicizing their orders, could potentially decrease the transparency of trading activity and influence the accuracy of the order book. Hidden orders, on the other hand, do not appear in the market data or order book, providing a degree of privacy for traders and potentially impacting the price discovery process.

Both dark pools and hidden orders can affect the representation of supply and demand in an order book, making it crucial for traders to be aware of their potential influence on market dynamics and the accuracy of the information provided.

Low-liquidity markets pose challenges for traders because:

When trading in low-liquidity markets, it is important for traders to be aware of the potential risks and exercise caution when executing trades based on order book data, as the limited depth and liquidity can result in less accurate price information and unpredictable market conditions.

In conclusion, mastering the order book is an essential skill for successful trading. It provides valuable insights into market depth, liquidity, and potential price movements, allowing traders to make more informed decisions. By understanding the different components of an order book, the role of market makers, and the impact of various order types, traders can capitalize on market opportunities and navigate the complexities of the financial markets. However, it is important to be aware of the limitations and considerations of order books, such as dark pools and low-liquidity markets, and exercise caution when executing trades based on this data. #TheCryptoArk #Bybit

Mastering the Order Book: A Comprehensive Guide to Order Book Explained

Compete for 2,500 USDT Every Week

Earn Points by Completing Tasks

Event Rules

Register now and get 10 points

Write/Reply Comments (0/5)

Publish an Article (0/5)

Share an Article on Social Media (0/5)

Like an Article (0/5)

Read an Article (0/5)

Weekly Leaderboard