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

Staking

Solayer is the first native restaking and liquid restaking protocol on Solana’s blockchain.

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 (EIGEN) protocol in mid-2023 ushered in a new era for 

 the birth of native ETH restaking. Using the protocol's restaking service, users can now reuse their staked Ether to secure additional blockchain protocols and services, earning crypto income from more than one source. 

Besides native ETH restaking, EigenLayer also offers liquid restaking, which allows you to secure additional platforms within the wider Ethereum ecosystem via liquid staking tokens (LSTs). Ever since the launch of EigenLayer, Ethereum restaking and liquid restaking services have flourished, attracting 

 (DeFi) users enticed by multiple yield sources and the noble goal of securing a multitude of blockchain services with their funds.

 blockchains beyond Ethereum lacked the kind of native restaking and liquid restaking functionality that EigenLayer provides. That’s when Solayer 

 a native restaking and liquid restaking service for the 

 arrived on the stage. You can lock your SOL or select LSTs on the Solayer platform and be issued sSOL, an asset that lets you earn additional yield by delegating your stake to secure additional services and protocols within the Solana ecosystem.

 protocol on Solana that allows you to use your SOL funds or some Solana-based LSTs to earn yield by securing a variety of AVS and associated solutions on the blockchain. 

Solayer users deposit SOL or LST assets — such as Marinade Staked SOL (mSOL), Jito Staked SOL (JitoSOL) and BlazeStake Staked SOL (bSOL) — on its platform and get issued the sSOL restaking token. Then, sSOL can be delegated to secure consensus on various Solana-based 

 (DApps) that require a validation process beyond what’s provided by the blockchain's underlying 

The functional model adopted by Solayer closely replicates that of EigenLayer, the leading native restaking and liquid restaking provider on Ethereum. Similar to the way EigenLayer allows users to reuse staked ETH or LSTs for additional yield, Solayer provides an opportunity for users to earn yield from reusing their staked SOL or some Solana LSTs.

Established by Solana co-founders Anatoly Yakovenko and Raj Gokal

Solayer was launched on the Solana mainnet in August 2024. As of early December 2024, the protocol has already achieved a 

 (TVL) of $367 million. While this might be a relatively modest amount compared to the largest DeFi protocols on Solana, it should be mentioned that Solayer is the first (and so far, the only) native restaking and liquid restaking solution on the Solana blockchain, a pioneer of this niche of DeFi within the Solana ecosystem.

As of December 2024, Solayer operates without a designated native token, although there are reports of a potential airdrop campaign planned by the platform. However, it's unknown if such an airdrop would be followed by the introduction of a native token. Moreover, the Solayer team hasn’t provided official confirmation of an airdrop.

 have been popularized by Ethereum's EigenLayer protocol. Native restaking allows users who contribute funds to staking on a Layer 1 chain to reuse the same funds to secure the validation mechanism on additional blockchain platforms and services. Liquid restaking is a derivative of native restaking, whereby you can reuse LST assets issued by liquid staking protocols to provide support to the validation process on blockchains and associated services.

Both native restaking and liquid restaking are great ways for DeFi users to earn additional yield while securing the functionality of more than one blockchain. Blockchain services that use AVS protocols to restake and utilize funds normally require validation and network resources beyond those provided by the Layer 1 chain where the original staked funds are locked. These AVS protocols can be external or internal to the core Layer 1 chain. As we detail in a section below, Solayer focuses on internal, or endogenous, AVS.

The Solayer platform is made up of three key components that enable its operations: 

The restaking pool manager is a component that accepts users’ initial deposits in SOL (or LSTs) and converts them to restaked assets, i.e., sSOL.

Users receive their sSOL, which can be further utilized to secure a variety of Solana-based AVS. This is done by delegating sSOL to participating DApps. The job of the delegation manager is to enable this process. Examples of DApps in which sSOL can be restaked include the Sonic (SONIC) Layer 2 chain, HashKey Cloud web3 infrastructure provider and 

 (BONK) meme coin ecosystem. When users delegate to these services, they’re issued 

 SPL tokens that serve as confirmation of their restaking positions. (SPL is Solana's main fungible token standard, analogous to Ethereum's 

 deter the adoption of LSTs (due to the fragmented nature of 

), which contributes to insufficient liquidity. To tackle this issue, Solayer has consolidated liquidity in a single sSOL/SOL pool design. This efficient design allows all AVS LST tokens to be immediately unwrapped back to the underlying representation, sSOL, significantly reducing price impact and fees while boosting the overall user experience.

The third key component, rewards accounting, is an offline module used to calculate rewards for users by accessing data in the restaking pool manager. These rewards will likely be used in the future to run specific loyalty campaigns and airdrops. The image below demonstrates the holistic interaction between the three components and the user.

sSOL is the platform's restaking token issued upon depositing SOL or LSTs. So far, we've explained how sSOL is used for restaking by delegating to participating DApps. However, Solayer's documentation also mentions that sSOL might be used in various 

. This is a reference to various liquidity pools and vaults 

 yield-bearing DeFi opportunities that might not necessarily be focused on securing consensus on an AVS system. This makes sSOL liquid and versatile, with applications beyond just AVS.

Some of the platforms on which sSOL might be used in this capacity include the 

We noted above that the key application of sSOL is that of restaking on various 

. In general, “AVS” in the blockchain industry refers to a diverse range of protocols and services that require validation processes beyond those provided by the underlying Layer 1 chain. These might include oracles and oracle networks, cross-chain bridges and messaging layers, Layer 2 chains, decentralized modular services, data availability (DA) layers and more. Many of these platforms have cross-chain functionality.

However, in the case of Solayer, the AVS involved are all internal to the Solana network. These are called endogenous AVS, as opposed to exogenous AVS, which may have cross-chain functionality and access networks beyond Solana. Examples of these endogenous AVS include decentralized cloud infrastructure on Solana providers, Solana Layer 2 blockchains and native Solana DApps.

Besides its core native restaking and liquid restaking services, Solayer has also ventured into the 

 niche with the introduction of sUSD — a 

 (RWA)–backed synthetic stablecoin. sUSD is a yield-bearing and secure stablecoin backed by U.S. Treasury Bills and pegged to the U.S. dollar. It's the first RWA-backed synthetic stablecoin asset that provides yield-bearing opportunities on Solana.

By simply holding sUSD, you can earn yield tied to U.S. Treasury Bills, currently at a rate of around 4%.

Bybit has partnered with Solayer to offer its LST asset, Bybit Staked SOL (bbSOL), for restaking opportunities on the Solana-based platform. Backed by Bybit, bbSOL provides a way for Bybit users to expand their choice of liquidity provision and yield-earning options.

link in the top right corner and link your 

. After connecting your wallet, you’ll see a list of options for restaking that includes the bbSOL token. Choose the bbSOL token and then click on the

 link next to it. You can then enter the amount of bbSOL you'd like to commit to Solayer restaking.

By offering its innovative restaking and liquid restaking services, Solayer secures Solana and provides unique yield-generation opportunities on the Solana blockchain. Given how unique the platform's service is within the Solana ecosystem, it's likely that a wide range of interested parties — from individual restaking enthusiasts and partnering DeFi protocols to institutions and industry leaders — will take a keen interest in Solayer.

Besides championing restaking services on Solana, the project has also ventured into the stablecoin market by introducing the sUSD yield-bearing token. The first RWA-backed stablecoin of its kind, sUSD will also likely play a key role in supporting Solayer’s early growth.

With the first native restaking and liquid restaking services and the first RWA-backed, yield-bearing liquid stablecoin for Solana, the team at Solayer sure do like being trailblazers!

Solayer: Building Solana’s Native Restaking Network

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