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

Trading

Forward and future contracts enable traders to multiply their money through leverage, but can come with great risk. Learn more here.

Forward-Contracts-vs.-Futures-Contracts-Which-Should-You-Choose_1600x900.jpg

You may be surprised to know that the concepts of forward and futures contracts, popularized by the stock market in modern times,  have been around since ancient Greece. As the crypto market continues to grow and garner mainstream acceptance, these 

 have come to play a key role in its growth. Perhaps one of the best indicators that an industry is growing is the introduction of tradable derivatives that aid in price discovery. To this end, let’s discuss what forward and futures contracts are, and which option is more suitable for you.

Forward contracts are agreements between two parties to buy or sell a specific quantity of a product based on a set of predetermined terms, where payment and delivery of the product are completed later at a set date.

 The terms of each contract are negotiated by the individual parties involved. Since a forward contract is concluded outside of exchange trading, it’s often referred to as an 

Futures contracts are transactions traded between two counterparties — the buyer and the seller — in an organized and regulated futures market. When purchasing a futures contract, the holder is obliged to buy or sell the underlying asset at a predetermined price (the settlement price) and at a certain time (the settlement date). Unlike forward contracts, which settle once (at the end of the contract), the value of a futures contract is determined daily based on market prices. Futures are strictly regulated and traded exclusively on established exchanges. 

Contract components of futures contracts are the “

,” the contract size, the delivery agreements, the delivery month, the price, and position limits. The exact contract contents of futures are determined by the exchange on which the contract is traded. 

With a forward contract, it’s possible to hedge against future price fluctuations. When taking a short position, the holder of the forward contract can hedge against falling prices. In contrast, a long position in a forward contract allows the holder to hedge against rising prices. 

In currency markets, forward exchange contracts can be used to buy or sell a currency, whereby the fulfillment of the transaction in the future takes place on currently agreed terms, at a specified price. In addition to speculating on changes in exchange rates, forwards also make sense if companies want to hedge the exchange rate risk for future transactions in a foreign currency. With the help of forwards, a company can secure a currency at its present exchange rates, for which the delivery fee is to be paid at a future date.

What Purposes Do Futures Contracts Serve?

Like forward contracts, futures are used for speculation and hedging. Originally designed for agricultural markets, the primary role of futures contracts is to minimize the risk of losses related to fluctuations in the price of the asset to which they relate (this is the role of “hedging”). 

Since futures contracts are traded on official exchanges, they serve two important roles that forward contracts do not. First, they aid in the process of price discovery. At any given time, futures quotes represent a consensus of opinions on the price that the underlying product will reach at a certain date. Secondly, they increase the liquidity of otherwise illiquid assets in the financial markets, allowing for the execution of large orders while limiting price fluctuations.

What Are the Differences Between Forward and Futures Contracts?

The following are the three primary differences between forward and futures contracts.

Futures contracts are traded on formal exchanges and are standardized, with exchange-specified contract size, tick size and nominal value. In contrast, forward contracts are privately negotiated and tailor-made according to the counterparties’ preferences. Note that futures are priced based on prevailing market valuations, and that contracts can be actively traded. 

Futures have no counterparty risk because the exchange’s clearinghouse guarantees payment. Moreover, the trading and pricing of these contracts are actively regulated by financial authorities. In essence, the clearinghouse functions as the counterparty for both buyer and seller.

On the other hand, forward contracts pose a credit default risk because they’re privately negotiated, and completely dependent on the other party’s payment. 

Futures contracts have fixed maturity dates which are set at regular intervals by the exchange. The maturity for forward contracts, on the other hand, can be set for any date, depending on the agreement between the parties involved. 

Futures and Forward Contracts in Cryptocurrency

When it comes to a forward or futures cryptocurrency contract, there are two ways a trader can position themselves:

As mentioned earlier, forward contracts can be as informal as we want them to be. Suppose you hold two BTC in your wallet, and the current price of a BTC is $44,700. Given the current market volatility, you believe that its price will drop significantly in about six months. Thus, you decide to enter into a forward contract to sell your BTC holdings at $89,400. 

After six months, you’re obligated to sell your two BTC at $44,700 each, regardless of prevailing market conditions. If by then the price of BTC is lower than $44,700, you’ll benefit by pocketing the difference. However, if the price is higher than that, you’d lose out on potential profit.

Let’s say a trader buys a futures contract whose 

 is three bitcoins worth $135,000 in total. Before becoming the contract owner, he’ll have to pay a security deposit to the exchange as collateral. The value of the security deposit corresponds to 10% of the value of the contract, which in this case is ($135,000 × 10%), or $13,500. Once the deposit is made, the trader takes a 

, betting on the rise in the price of Bitcoin compared to the purchase price ($135,000).

Each exchange sets its own tick value (the minimum price fluctuation for each contract), with the average being $10. This means that upward or downward variations of less than $10 will not be taken into consideration. These variations below the tick do not lead to loss or gain. If the price of Bitcoin increases by 5 ticks — i.e., (5 x $10), or $50 — the trader with the contract on three Bitcoins earns (3 x $50), or $150. If the price falls by $50, in the same way the trader will lose $150.

Upon maturity of the contract, if the price of Bitcoin has increased by 10%, the trader will earn $135,000 x 10%), or $13,500. Therefore, our trader has earned 100% of his initial deposit and doubled his bet. The trader is left with $27,000. (Had he bought Bitcoin with the same amount of money — instead of making his leveraged trade — he would have ended up with $13,500 + ($13,500 x 10%), or $14,850 instead.)

On the other hand, if after six months the price of Bitcoin drops by 20%, then upon maturity our trader will have lost 120% of his security deposit. As such, the $13,500 that was placed as the deposit will be forfeited. Additionally, the trader will owe the exchange 20% of the deposit: $13,500 x 20%, or $2700. This process is called a margin call. Futures contracts initiate margin calls to cut losses when things spin out of control.

Typically, there are no fees associated with forward contracts. 

In contrast, every crypto exchange sets its maker and taker fees for futures contracts. The futures contract fees vary, depending on the crypto exchange. Apart from this, there are also margin fees and collateral requirements. Always check for fees on your crypto exchange before 

Arguably the greatest advantage of forward contracts is the ability for counterparties to customize an agreement however they like. These contracts can be as informal as they wish, and can also be drawn for just about any asset or price. For futures, the exchange determines the contract size, as well as the number of underlying assets to be delivered. The delivery agreements include the place and mode of delivery, both of which are also determined by the exchange. When specifying the delivery month, the exact period in which the delivery will take place must also be indicated. Also, 

 eliminate any counterparty risks that may arise.

The purpose of forward and futures contracts is to allow the negotiation, purchase and sale of any asset to take place in the future. These contracts are derivatives, because their price depends on the evolution of the spot prices of the property to which they relate — known as the “underlying.” Thanks to leverage, they can be used for two purposes: to make the most out of a profit opportunity, or to hedge your portfolio against a price risk at a lower cost. Derivatives markets allow an investor to speculate or hedge their risk without a large down payment, offering them the opportunity to open a position and liquidate it easily at a lower cost.

It is our hope that the information contained in this article will help guide you toward your decision. Ultimately, it’s your call regarding which of the two contracts to trade.

Forward Contracts vs. Futures Contracts: Which Should You Choose?

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