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.

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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

ERC-6551 is an Ethereum standard that creates token bound accounts. This new protocol is a smart contract that makes a unique wallet for each NFT.

Since their creation back in 2014, non-fungible tokens (

) have remained largely the same. The majority of NFTs still run on the ERC-721 standard. While this older method can be useful in certain situations, many innovators are looking for newer and more effective ways of managing NFTs. The ERC-6551 standard proposes a new way of handling NFTs through token bound accounts (TBAs). What is ERC-6551, and how does it work? Keep reading to learn about this exciting new project, and how it can change the way people use NFTs.

ERC-6551 is an Ethereum standard that creates token bound accounts. This new protocol is a smart contract that makes a unique wallet for each NFT. The wallet is linked to the NFT, and can store digital assets related to that NFT.

A token bound account is essentially a type of NFT wallet. With the

, a new or existing NFT can get a smart contract account that’s linked to it. The account can hold all sorts of digital assets, such as cryptocurrency and proof of attendance protocols (

). Token bound account contracts also include records of all transactions associated with the individual NFTs.

Whenever the NFT is sold or transferred, the token bound account moves with the NFT. The new owner of the NFT receives access to all blockchain-based digital assets inside the NFT wallet, and can review the transaction history for the NFT.

The ERC-6551 standard was created as a response to modern NFT culture. Its creators noticed that NFTs were increasingly placed in scenarios where they needed to hold assets. For example, an NFT character in a game might need to hold tokens they earned in the game, or an NFT membership card might need to hold a record of which events the member has attended. However, the original ERC-721 standard only creates single tokens that can’t associate with other blockchain assets or act as standalone agents.

ERC-6551 was designed to allow NFTs to function as individual agents, with their own transaction records and assets. The creation of token bound accounts gives users a convenient way to transfer all items related to the NFT at one time. ERC-6551's creators hope that their protocol makes it more convenient to handle modern NFTs.

Token bound accounts might sound fairly straightforward, but behind the scenes, there’s a lot going on. In order to create a wallet account that’s bound to a non-fungible token, the ERC-6551 protocol needs to follow 

The main reason people are so excited about these smart contract accounts is that they make it a lot easier to use NFTs. With a token bound account, NFTs become more than just a simple digital image you can transfer back and forth. ERC-6551 has a lot of useful applications for decentralized finance (

NFT composability essentially means bundling multiple on-chain assets into a single NFT. Users can purchase an NFT that includes unique tokens associated with the NFT project. Due to the way ERC-6551 is designed, composable NFTs are also very adjustable. Users can choose to keep all assets associated with the NFT or sell some of the assets and keep others. They can even add additional assets to it. Composable NFTs are highly popular for things like experimental art projects and NFTs designed as investments.

One of the main reasons NFTs are so popular lately is that they can function as a sort of digital identity. However, a standard NFT can’t function as an independent agent on a blockchain. For instance, if a user wishes to send money to another entity, they need to enact a separate smart contract with the owner of the NFT. ERC-6551 simplifies things quite a bit. The NFT itself can make smart contracts with accounts, or hold ownership of digital assets. This allows the NFT to function like an actual person, so people can use or transfer NFT identities without getting their actual identity involved in the transaction.

When it comes to gaming, the uses for an ERC-6551 smart contract wallet are almost endless. Many games focus on minting NFTs with special attributes, such as 

 other animals. Trading these sorts of NFTs gets a lot easier with an ERC-6551 token bound account. 

Having a wallet attached to the NFT lets gamers bundle multiple game-related assets for sale, so you can purchase both the fantasy animal and the crypto tokens that let you "feed" the animal. Since a token bound account can hold POAPs, it can also let you show that an NFT has taken part in special game activities or participated in other events that may provide the NFT with extra features or game-related assets.

In addition to letting you hold on-chain assets, smart contract wallets are also valuable because they hold a record of past transactions. New owners can see when an object originated, who owned it before and how many times it's been sold. This is useful for NFTs sold as collectibles. Owners can use the smart contract account to verify the provenance of a piece. They can make sure the item is exactly what it claims to be, so they can prove its history and its worth.

. This means that the NFT can independently interact with other items on the chain. It can directly own things like tokens, which can then be used to adjust the NFT itself. For example, a creator could make an NFT that changes color as more tokens are added to its wallet. Since NFT dependency increases the NFT’s interactivity, a buyer could feel like they're more involved in the artwork.

ERC-6551 and ERC-721 are both Ethereum standards. This means that they’re a set of rules built on a 

 governing how users can interact with the Ethereum blockchain. Both protocols create a standard for how NFTs based on Ethereum work.

The main difference between these protocols is simply in the way they run and what they accomplish. ERC-721 is a protocol for creating an NFT. It defines an NFT as a unique token with attached media, such as a visual or set of text. Meanwhile, ERC-6551 builds on the base of ERC-721. It takes the classic ERC-721 token and adds an account that can hold other assets.

. However, users can choose to upgrade the base token to an ERC-6551 account that provides the NFT with its own wallet, which can interact with other blockchain assets.

ERC-6551 certainly provides new opportunities for people working with NFTs. However, it's not without its downsides. There are a few potential concerns to be aware of.

 and can be used with any existing ERC-721 token. However, this doesn't necessarily mean that any previous NFT project can immediately adopt the new standard. Many NFT projects use a combination of blockchain technology and other types of technology. This additional tech might not be designed to work with ERC-6551. For example, some of the popular NFT markets aren’t coded in a way that will let people easily sell ERC-6551.

ERC-6551 can make NFTs both more valuable and complex, which makes them a target for scammers. Malicious actors can use people's lack of awareness about ERC-6551 to take advantage of others. Since NFTs can now hold a lot of crypto and other valuable on-chain assets, those who get taken in by scams can lose a lot more than just a single NFT.

Potential for Assets to Be Locked in Ownership Cycles

ERC-6551 comes with some potential problems related to recursivity. What happens if an owner transfers an ERC-721 NFT into its own token bound account? Currently, both the NFT and all assets in the account end up locked in an ownership cycle. This makes them completely inaccessible because only the owner of the account can transfer the account— but now the owner of the account is an NFT. Currently, the only way to avoid this is to be very careful with how one sets up or uses a token bound account.

ERC-6551 is likely to make big waves in the NFT community. It creates a simple, on-chain way to perform many of the tasks into which DApp developers previously had to put a lot of effort. This protocol has the potential to make gaming, 

 and collectible markets a lot easier to design and run. In the future, this might lead to a lot more NFT projects taking off.

However, keep in mind that changes aren't likely to occur overnight. Adopting any new ETH standard takes a while, and there are a lot of little details that go into implementing ERC-6551. Plenty of people and projects will start using ERC-6551 eventually, but the full effects of the new protocol might not be evident at first.

ERC-6551 solves many problems people had with the original ERC-721 NFTs. Adding a wallet to an NFT allows it to hold the assets needed to make the NFT a digital identity, game component or collectible. Though it might take some time for this new Ethereum protocol to be adopted, it's likely to become an essential part of the NFT landscape.

ERC-6551 NFT Standard: Exploring Token Bound Accounts

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